Vince McMahon is a sports icon, having taken the former World Wrestling Federation to a global sensation, in what is now the WWE or World Wrestling Entertainment. The WWF and WWE was built on the backs of big personalities like Hulk Hogan, The Rock, “Stone Cold” Steve Austin, Triple H, Kurt Angle and many others.
McMahon has basked in the glory of his billion-dollar corporation but is currently embroiled in sexual misconduct allegations. With McMahon facing such damaging allegations to the brand, the soon-to-be 77-year-old is calling it a career.
Here’s what McMahon said via press release.
“Throughout the years it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you.”
— Vince McMahon (@VinceMcMahon) July 22, 2022
McMahon wasn’t done.
“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, passion as always. I am extremely confident in the continued success of the WWE and I leave our company in the capable hands of the extraordinary group of superstars, employees and executives — in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. I will continue to support WWE in any way that I can. My personal thanks to the community and business partners, shareholders, and the Board of Directors for their guidance and support through the years. Then. Now. Forever. Together.”
McMahon’s retirement comes a month after allegations of this lewd and lascivious behavior leaked out.
McMahon Under Investigation For Paying Women To Keep Sexual Misconduct Ways Silent
In June, reports rang out that McMahon paid a former female employee $3 million for her silence following an alleged affair. At the time it was also revealed that McMahon has been under investigation since April. Per The Wall Street Journal, there were NDAs from other former WWE female employees as well.
“The board’s investigation, which began in April, has unearthed other, older nondisclosure agreements involving claims by former WWE employees of misconduct by Mr. McMahon and one of his top executives, John Laurinaitis, the head of talent relations at WWE, the people said. The journal couldn’t determine how many previous agreements were being scrutinized.”
WWE’s board is investigating a secret $3 million settlement that longtime CEO Vince McMahon reached with a former employee with whom he allegedly had an affair, according to documents and people familiar https://t.co/FXdiFlpfiq
— The Wall Street Journal (@WSJ) June 15, 2022
In July, the Journal also reported that McMahon has paid over $12 million in the past 16 years to keep those women quiet.
It’s very interesting that McMahon’s top executive mentioned is Laurinaitis, who decides if prospective employees are talented enough to make the cut for WWE. This sounds like a pay-for-play for setup, where McMahon and Laurinaitis used their hiring power to the fullest extent, and not in a good way.
McMahon Purchased It 1982 From Father For $500K
In 1982, McMahon purchased the WWE from his father. He would go on to turn it into the global phenomenon you see today. While it’s the end of an era, it’s one that was needed following McMahon’s poor decisions as it pertains to female employees of his company.
Now his daughter and her partner are going to be tasked with keeping things running smooth, while dad is still under investigation from the company board.