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BREAKING NEWS: Vince McMahon resigns from WWE and UFC parent company TKO Group Holdings

Aaron Rift

It was reported on Thursday by The Wall Street Journal that Janel Grant, a former WWE employee, filed a lawsuit against WWE, Vince McMahon, and John Laurinaitis in a Connecticut federal court. McMahon was accused of sex trafficking in the complaint.

On Friday night, Deadline.com obtained an official statement was issued by McMahon…

“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. ”

“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, effectively immediately.”

WWE President Nick Khan sent out the following e-mail to employees…

“I wanted to inform you that Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors. He will no longer have a role with TKO Group Holdings…”