WWE: Vince McMahon resigns from executive chairman position in TKO Group after horrific accusations

After heinous allegations over Former WWE Chairman Vince McMahon surfaced over social media, dark clouds began to surround the wrestling promotion. Mr. McMahon has been slammed with multiple allegations by a former WWE employee. To defuse the situation, Vinny Mac has pulled himself out from the TKO Group Holdings, the parent company of WWE and UFC.

3 things you need to know

• Vince McMahon led the company for several years
• Endevaour bought WWE and formed TKO Group Holdings
• Mr. McMahon has resigned from his position in TKO Group 

Also Read: 'Send video of herself urinating': Brock Lesnar named in Vince McMahon sex trafficking lawsuit?

Vince McMahon steps down from TKO Board of Directors group 

A statement issued late on Friday stated that McMahon has resigned from the board of directors of TKO Group Holdings, the parent company of WWE. Following the case brought by Janel Grant, who was an employee of the company's talent and legal departments, he persisted in his denials of any misconduct.

“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,” Mr. McMahon said in a statement as per Deadline.com. 

“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,” he added.

Also Read: Former WWE Champion has an absurdly interesting proposal for a match-up in stage like WrestleMania

According to the lawsuit, McMahon, who is currently 78 years old, allegedly pushed Grant into a sexual connection in order for her to obtain and maintain employment and distributed explicit images and videos of her to other men, including other WWE staff members.

For many years, McMahon led WWE and was its most recognisable figure. Wrestling events were held in modest venues and aired on local cable channels when he bought the World Wrestling Federation from his father in 1982. WWE has a substantial international fan base, and its matches are currently hosted at professional sports arenas.