The co-founder of the modern WWE, Vince McMahon’s resignation as executive chairman of TKO Group, the parent company of the professional wrestling promotion, suggests the first time no blood member of the McMahon family is enjoying executive powers in the WWE, thus ending a long-standing reign that began in the 1950s. It all started in 1953 when Vincent J. McMahon, his son, and Jess McMahon founded the Capitol Wrestling Corporation.
The news of McMahon’s withdrawal was made public following a lawsuit filed by Janel Grant, a former employee, in which she accused the media mogul of s*xual assault and trafficking. Previously, McMahon left his position as chairman and CEO of WWE in 2022 while the organization carried out an investigation focused on claims of alleged hush-money payments paid by the businessman to former workers who accused him of s*xual misconduct.
The McMahon family’s more than 70-year powerful run has reportedly concluded with the news of this resignation.
No Blood Member Of The McMahon Family Currently Enjoys A Position Of Power In The WWE
According to recent reports, following Vince McMahon‘s resignation from TKO Group (via Variety), none of the McMahon family’s blood members are currently working in executive positions for WWE for the first time. Among the most renowned families in pro wrestling history, they are well-known for having relished their roles as WWE’s founders, owners, and promoters.
The above 70-year-old run began in the 1950s when pro-wrestling and pro-boxing promoter Jess McMahon and his son Vincent J. McMahon (also known as Vince McMahon Sr.) founded the Capitol Wrestling Corporation. The CWC later became the World Wide Wrestling Federation. Eventually, Vince McMahon, Vincent McMahon’s son from his first marriage, purchased the promotion. Before the latter’s retirement, the company was renamed the World Wrestling Federation (WWF) in 1979.
After he purchased the WWF from his father, the company reached new heights under Vince’s leadership. He and his wife, Linda McMahon, founded Titan Sports (former name of World Wrestling Entertainment, Inc.) in 1980. Here, she served as president and later CEO until 2009. Subsequently, the company rebranded to World Wrestling Entertainment (WWE) in 2002.
Vince and Linda’s children, Shane and Stephanie McMahon, have also had roles to play in the promotion. The former started working with WWE at the age of 15, where he eventually became a wrestler. The fourth-generation wrestling promoter initially announced his resignation from WWE in 2010 before joining again in 2016.
Related: Horrifying Details From Vince McMahon-Janel Grant Lawsuit
In 2022, however, reports (via F4W/WON) surfaced amid controversy that he was quietly dismissed from his father’s company. It was unclear at the time if his talent deal had been dissolved. He eventually made his return in April 2023 at WrestleMania 39. Many speculate Shane McMahon still has a talent contract, with no known confirmations of its expiration. Nevertheless, reports allege he doesn’t enjoy a crucial executive role in his father’s company.
As for Stephanie McMahon, before resigning from the promotion, she held several positions inside the WWE from 1998 until 2023, including Chief Brand Officer, chairwoman, CEO, and more. She is married to Paul Levesque, aka Triple H, which technically makes him a McMahon family member, just not by blood association. He remains an active part of WWE as chief content officer and head of creative.
With Vince McMahon’s recent controversial exit, the McMahon family’s legacy appears tainted.
Vince McMahon’s Statement After TKO Resignation
According to Deadline, in light of his recent TKO Group Holdings resignation, the business magnate had the following to say about his abrupt departure that was sparked by former WWE employee Janel Grant’s detailed jaw-dropping s*xual assault suit that was filed earlier this week:
“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.”
He then explained the reason behind the resignation:
“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, effective immediately.”
Further reports revealed that TKO board member and WWE President Nick Khan broke the news of McMahon’s departure to employees in an internal email, stating that he “will no longer have a role with TKO Group Holdings or WWE.”
Vince McMahon’s representative previously affirmed to the outlet that the WWE founder “will vigorously defend himself” in court. Grant’s lawsuit seeks various monetary damages. It also demands the voiding of the nondisclosure agreement that the former WWE employee was compelled into signing.
Reps from TKO Group Holdings confirmed they would be investigating the matter internally.
It leaves to be seen what developments unfold in the coming days.
