Today, former WWE CEO Vince McMahon has announced his retirement from the wrestling dynasty he has presided over for more than four decades.
McMahon suddenly announced his retirement on Twitter, saying that at the age of 77, it was time for him to retire from WWE. After thanking the World Wrestling Entertainment universe, McMahon signed his tweet with the WWE tagline, “So then. The current. Forever. Together”—followed by the hashtag “ #thankful ”.
Update 7/22/2022 6:45 p.m. ET: In a new statement, McMahon explained his departure:
As I neared 77 years old, I felt it was time for me to retire as the Chairman and CEO of WWE. Throughout the years, it has been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and keep you entertained. I would like to thank my family for their enormous contribution to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion. their to our brand. Most importantly, I want to thank our fans for allowing us to come to your home every week and be your entertainment choice. I have the deepest appreciation and admiration for the generations of fans around the world who have liked, are now liking and even sometimes loving our form of Sports Entertainment.
Our global audience can rest easy knowing WWE will continue to bring you the same enthusiasm, dedication and passion as always. I am extremely confident in the continued success of WWE and I leave our company in the hands of an extraordinary group of Superstars, employees and executives – in particular, both the President and Co-Directors. Executives Stephanie McMahon and Co-CEO Nick Khan. As a major shareholder, I will continue to support WWE in any way I can. I personally would like to thank the community and business partners, shareholders and the Board of Directors for their guidance and support throughout the years. Afterward. The current. Forever. Together.
McMahon’s retirement announcement comes at an auspicious time considering he is currently under investigation by the WWE for alleged affairs with multiple former WWE employees. Back in June, McMahon “ voluntarily back“Given his roles within the company amid the ongoing investigation into one of the alleged incidents, according to The Wall Street Journalinvolved a secret $3 million deal between McMahon and former employees.
The $3 million settlement barred the complainant, a former WWE attorney, from discussing her relationship with McMahon or disparaging him. An internal investigation conducted by a special WWE committee revealed that McMahon had reached similar non-disclosure agreements with three other female former WWE employees. Employees have brought allegations of misconduct against both McMahon and WWE head of talent relations John Laurinaitis, according to reports. a while later WSJ report.
In total, McMahon paid four women $12 million to keep quiet about his alleged relationships with them. McMahon and WWE have previously stated the relationship revealed in the first report is consensual.
Although his daughter, Stephanie McMahon, has replaced McMahon as interim CEO and President of the company, McMahon remains retain creative control through the WWE storyline.
Since the investigation began, McMahon has made numerous live appearances with the strange character on the WWE show. In the first appearance Friday night Smackdown after WSJMcMahon’s initial report reiterates WWE’s motto of “So then. The current. Forever. Together,” before tossing the microphone and leaving the ring. (Later, a WWE employee reportedly witnessed McMahon scream “Fuck”, seems to be about the accusations.) On the next episode of Monday Night RawMcMahon has teased the return of John Cena, which fans have come to know through WWE commercials.
The big question is what happens now. Fallout seems to have begun, with Wrestling Observer Writer Bryan Alvarez tweets where former Universal champion Brock Lesnar departed Smackdown. In a follow-up tweetAlvarez added, “Brock’s lines are some derivative of, ‘If he goes, I’ll go.'”
Early this morning, Paul “Triple H” Levesque tweeted that he will officially return to his role as the talent relations wrestling organization’s EVP. Time will tell whether Levesque will return to his old role as head of WWE’s development program, NXT, or even branch out into creative control over ongoing WWE storylines. .