Fans react to Vince McMahon’s resignation after TKO expansion, In the wake of a shocking lawsuit brought by Janel Grant, a former employee of WWE, McMahon resigned from all positions at TKO, including Executive Chairman and Board of Directors. Grant claimed McMahon was complicit in a s*x trafficking and abuse scandal.
According to Grant, Vince McMahon forced her into having s*x with him and other men, and he sent graphic pictures of the victim to people inside and outside the business. Executives moved into damage control mode after the lawsuit targeting the founder of WWE was filed following the company’s $5 billion acquisition with Netflix.
On January 23, Vince McMahon entered the New York Stock Exchange to commemorate what was expected to be a victory for TKO Group Holdings, the company he served as executive chairman of, and the owner of the WWE, the professional wrestling organization that McMahon built into a multibillion-dollar enterprise.
Also Read: Joe Rogan Exposes the Downfall of WWE’s Vince McMahon- “Something Insane”
Damage Control Measures Against Vince McMahon
The corporation was set to stage one of its flagship yearly events, the Royal Rumble, at Tropicana Field in Tampa, Florida on January 27, to finish off the week. However, devastating litigation and a crucial choice made by a significant sponsor altered the firm’s trajectory.
As news of Vince McMohna’s resignation went viral on Instagram, WWE fans expressed their happiness towards the decision after TKO Expansion.
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By the time the Royal Rumble commenced, McMahon had left TKO, apparently permanently, as the company tried to disassociate itself from the man’s supposed past wrongdoings, prioritized employee safety, and addressed financial concerns.
Vince McMahon has sold some of his ownership in WWE & UFC parent firm TKO Group, marking the third time in the last five months that he has done so and the second after he resigned following allegations of sexual abuse in a lawsuit filed by former WWE employee Janel Grant.
As per the TKO filing that was made public on March 28, with the U.S. Securities & Exchange Commission, McMahon just sold 3,484,006 of his firm shares. Through the deal, he received “approximately $100 million” from an undisclosed bank.
Also Read: TKO: UFC and WWE’s Parent Company Loses Stocks of Vince McMahon in Latest Development
