Vince McMahon officially retires from WWE in the midst of allegations of misconduct

Cheryl E Preston

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Vince McMahon retires from WWEWashington Post

Vince McMahon has officially retired from the WWE after “voluntarily” scaling back his duties last month in the midst of allegations that he "agreed to pay $3 million to a former employee with whom he had an affair." The WWE’s board of directors launched an investigation into McMahon as well as John Laurinaitis,a former wrestler who is now the head of talent relations for WWE. Stephanie McMahon was named interim CEO after the allegations against her father surfaced. She will now become co-CEO along with WWE president Nick Khan.

 The Wall Street Journal reported this story citing sources “familiar with the board inquiry.” as well as documentation. McMahon is said to have used his own money, which was to be paid to the unnamed employee in increments over a five-year period. He has not addressed the allegations but had plenty to say regarding walking away from his empire. WFXR TV indicates that the wrestling mogul said the following.

"I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment.”

"As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE,” McMahon wrote in a statement published by the WWE. “Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand.”

He also thanked the legions of fans in the WWE Universe who continue to allow McMahon's world to come into their homes.

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I write, about breaking news, and current events. I wrote a newspaper column from 1997 to 2007 and have written for various online platforms since 2012 including Yahoo Contributor Network, Hubpages, and Vocal Media.

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