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Vince McMahon Steps Out of WWE Ring During Investigation

Vince McMahon Steps Out of WWE Ring During Investigation

Vince McMahon, the 76-year-old head of World Wrestling Entertainment and face behind one of the more entertaining memes commonly spotted online, announced on Friday that he is stepping back from his leadership role while the company investigates misdemeanor claims. His daughter, Stephanie McMahon, who happens to be married to the WWE Superstar Triple H, has assumed the position of interim CEO and chairperson. 

McMahon, who has run the organization for 40 years, and is a third-generation wrestling promoter, is accused of spending $3 million in hush money payments to cover up an affair with an employee. There have also been allegations made against him of sexual assault in the past, which he has denied.

WWE, a publicly traded company, listed revenue over $1 billion in 2021.

In a statement, Stephanie McMahon said “I love this company and am committed to working with the Independent Directors to strengthen our culture and our Company; it is extremely important to me that we have a safe and collaborative workplace.”

The same day news of McMahon’s decision to step aside was made public, the official social media arm of WWE announced that he would be appearing on the same night’s longstanding program SmackDown on FOX.

McMahon will retain his role relating to “creative content” (they shall always smackdown, never smackup!) as the investigation continues. 

In a statement of his own, he said, “I have pledged my complete cooperation to the investigation by the Special Committee, and I will do everything possible to support the investigation. I have also pledged to accept the findings and outcome of the investigation, whatever they are.”

In April last year, WWE finalized a $1 billion deal with Peacock for streaming rights that included its annual Wrestlemania event, as well as developing new content strategies. 

At a Wrestlemania event in Detroit in 2007, McMahon was held down in a chair and had his head shaved by the future President of the United States, Donald Trump, in a match dubbed The Battle of the Billionaires.

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