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[PWInsider] VINCE MCMAHON RESIGNS FROM TKO, WWE (pwinsider.com)

submitted 9 months ago* (last edited 9 months ago) by [email protected] to c/[email protected]

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“I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth. I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name. However, out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effectively immediately."

Edit: Nick Khan statement to Employees:

"I wanted to inform you that Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors. He will no longer have a role with TKO Group Holdings or WWE."

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[–] [email protected] 5 points 9 months ago

Honestly, I have a hard time believing he walked away, I think it was more likely a "you either leave, or we make you leave" situation. Vince was able to force his way back into the WWE because he owned about 80% of its voting power, with TKO he only has like 10-15% of the voting power and wouldn't be able to stop himself from being fired.