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Vince McMahon resigns from TKO a day after ex-employee’s lawsuit

Vince McMahon, one of the co-founders of WWE (World Wrestling Entertainment), has resigned from his position as TKO (TKO Group Holdings) executive chairman and from the TKO board of directors following a lawsuit accusing him of sexual misconduct. Janel Grant, a former employee in WWE’s legal and talent departments, filed the lawsuit, alleging that McMahon coerced her into a sexual relationship for job security and distributed explicit content of her to others. The lawsuit also implicates WWE and John Laurinaitis, the company’s former head of talent relations and general manager.

Despite vehemently denying the allegations, McMahon has chosen to step down immediately out of respect for the WWE Universe and the TKO business. This development follows similar accusations in 2022, leading to McMahon’s resignation as WWE’s CEO during an investigation.

Grant had previously signed a nondisclosure agreement in 2022, receiving $3 million from McMahon. However, she claims that he stopped payments after providing $1 million. The lawsuit aims to void the NDA and seeks unspecified financial damages. Grant’s attorney expressed her hope that the legal action would prevent other women from experiencing similar victimization.

McMahon’s resignation coincides with Dwayne “The Rock” Johnson joining the TKO board, and WWE finalizing a significant streaming deal with Netflix. McMahon, a multibillionaire recognized for revolutionizing professional wrestling, orchestrated the merger of WWE with UFC (Ultimate Fighting Championship) last year, forming the $21.4 billion sports entertainment entity TKO Group Holdings.

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