Vince McMahon, the former World Wrestling Entertainment (WWE) CEO, recently hit the Internet with his retirement news. On July 22, Friday, Vince voiced his plan for retirement amid the sexual misconduct allegations. The reports flooded over the internet that the CEO paid $12 million quietude money to many women. In his statement about retirement, Vince, 77, had not mentioned anything about the allegations filed against him. The CEO was keenly focusing on delivering his words on his retirement story.
WWE’s Vince McMahon Resigns Amid Sexual Wrongdoing Probe
Vince McMahon, the founder, and owner of Alpha Entertainment, brilliantly turned an undersized wrestling company into a renowned worldwide entertainment business. He unwrapped his plans and said he is stepping out from WWE and was no longer the chairman and CEO. But before concluding, he even pointed out that he still holds the authority and remains the majority shareholder.
His decision to take a break from the chairman and CEO of WWE came out in mid-June, and it was due to the investigation he was alleged into for misconduct.
In the very latest news release, it points out the fact that McMahon has agreed that he set to pay $12 million to mask the allegations filed against him connected to infidelity, and sexual misconduct.
McMahon addressed the public by saying, it’s time for him to get into a relaxed phase of life, retirement. In his world, he also mentioned his sincere thanks to the WWE. He then shared a post on Twitter with the very same wordings. In such a move, he keenly gave attention not to disclose anything related to the ongoing investigations. Not even in a single statement does McMahon mentions the investigation surrounding him.
This seems to be a brilliant move from his side, and he only focused on and highlighted his retirement and afterlife.
Vince McMahon who tied the knot to Linda Marie McMahon in the year 1966, shares a son, Shane, and a daughter, Stephanie. Recently, McMahon shared his words about the future of WWE. He said that his daughter who is now adorning the role of interim CEO and chairperson in WWE will hereafter get into the role as main along with Nick Khan. She joined the company in the year 2020.
His words were not limited to WWE, they crossed the boundaries and reached the fans. He never overlooked sharing his thanks for the die heart fans of WWE. He said that the worldwide audience can be at ease that WWE will continue its entertainment with the same spirit, devotion, and dedication. He thanked the fans of all generations who stay in every hooks and corner of the world.
On the WWE official website, they published the statement shared by McMahon. It shows that, for long notable years, It’s been a privilege for McMahon to assist WWE in bringing all the fans joy, thrill, surprise, and evergreen non-stop entertainment. He then said that his family who showered their mighty contributions helped WWE to be on the track to success. He also thanked all the present and past Superstars and staff for their unconditional dedication and passion for the WWE brand. He kept it highlighted which is the thanking part to the fans for making WWE attain its heights by allowing the show into their homes weekly and for choosing the show as their means of entertainment.
In late July, the allegations encircling McMahon popped up, and everyone started to know a hint about it from the Wall Street Journal report. The report which put forwarded by the journal indicated many allegations against the former WWE CEO Vince McMahon. In the report, it was well showcased that he paid $12 million as hush money for not less than four known women to step back from shooting the allegations of infidelity and sexual misconduct.
Further info related to the hush money unwraps the case that it was paid over sixteen years. The claims against McMahon were really shocking. A wrestler said that she was forced for oral sex, and then she was taken to a lower position as a punishment. She said McMahon then decided not to revive her contract when she further resisted sexual encounters from his side.
Other payments were done in the years 2006 and 2008. It was connected to the unbidden nude photos in which the CEO kept himself, mum. Until 2022, McMahon served as the CEO and chairman of WWE and was the personification of WWE, the largest professional wrestling promotion, for decades.
He is a successful businessman who has run WWE since late 1982. He was very passionate about his business and had done his best to perform the operations to bring out such a well-famous entertainment, WWE. According to the reports, the company’s revenue in the year 2021 exceeds the amount of $1 billion.