World Wrestling Entertainment (WWE) kingpin Vince McMahon announced Friday that he is retiring amid an investigation into allegations of misconduct on his part.
“As I approach 77, I feel it is time to retire as WWE Chairman and CEO,” McMahon said in a statement.
“Over the years it has been a privilege to help WWE bring you joy, inspire you, delight you, surprise you and always entertain you. I want to thank my family for being so instrumental in our success, and I also want to thank all of our past and present “superstars” and employees for their dedication and passion for our brand. »
“Most importantly, I want to thank our supporters for letting us into your home and being your choice of entertainment each week. I have the deepest appreciation and admiration for our generations of fans around the world who loved, still love and in some cases love our form of sports entertainment. »
“WWE will continue to entertain you with the same passion, dedication and passion. I am extremely confident in the continued success of WWE and leave our company in the capable hands of an exceptional group of Superstars, employees and leaders – most notably, Chairperson and Co-CEO Stephanie McMahon and Co-CEO Nick Khan. As the controlling shareholder, I will continue to support WWE in any way I can. »
“I personally thank our community and business partners, our shareholders and our Board of Directors for their guidance and support over the years. »
McMahon closed the message with “Before. Now. Quiet. Together”, based on the slogan of the company he built.
McMahon resigned as CEO and chairman of WWE in mid-June pending an investigation into allegations of misconduct.
In early July, The Wall Street Journal reported that McMahon agreed to pay more than $12 million over the past 16 years to cover up allegations of sexual misconduct and infidelity.
Citing sources familiar with the matter, the Journal claimed that four women with WWE connections have signed agreements prohibiting them from discussing their interactions with McMahon.
Regarding the ongoing investigation, McMahon has previously said he is cooperating with it.
For decades, McMahon was the leader and one of the most important faces of WWE, founding, among other things, the flagship event WrestleMania and the WWE Network.
When he bought his father’s World Wrestling Federation in 1982, the fights took place in small arenas. Last year, WWE revenue surpassed $1 billion for the first time.
Wrestlers like Hulk Hogan, Dwayne “The Rock” Johnson, “Stone Cold” Steve Austin and John Cena have also become household names outside of wrestling.
WrestleMania 38 was held at Dallas Cowboys Stadium in April.
On July 30, Summerslam will be held at Nissan Stadium, home of the Tennessee Titans.
— Vince McMahon (@VinceMcMahon) July 22, 2022