Entertainment
Vince McMahon retires from WWE aged 76-Emily Bashforth-Entertainment – Metro
He vows to continue to support WWE ‘in any way I can’.
The wrestler still vows to support WWE ‘in any way I can’ (Picture: Getty)
Vince McMahon has announced his retirement from WWE ahead of his 77th birthday.
McMahon has been a longtime chairman and CEO of World Wrestling Entertainment but is now stepping back from his role.
The American star – who has faced allegations of sexual misconduct recently – announced the news in a statement that read: ‘As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of 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.’
He added: ‘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.
‘Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment. 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.’
The businessman continued that the global audience of WWE ‘can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always.’
The US star has faced allegations of misconduct recently (Picture: WWE)
McMahon said he is ‘extremely confident’ that WWE’s success will continue, saying he is leaving the company ‘in capable hands’, with Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan at the helm.
As the majority shareholder, he vows to continue to support WWE ‘in any way I can.’
‘My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years. Then. Now. Forever. Together’, he signed off.
McMahon acquired the company in 1982 when he bought it from his father, Vincent J. McMahon.
He’s been the face of the brand ever since, and was behind professional wrestling becoming mainstream during the Attitude Era in the 90s, with names like The Rock, Kane, Triple H and Steve Austin making the sport a phenomenon.
The businessman bought the company from his father in 1982 (Picture: Getty)
Then, in 2001, McMahon bought WWE’s biggest competitor, World Championship Wrestling.
News of his retirement follows reports that he agreed to pay over $12million (£9.98m) over the past 16 years to keep quiet about allegations of sexual misconduct and infidelity involving four women.
The executive has been embroiled in an investigation by the board of directors as they look into the claims.
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It followed an initial report from the Wall Street Journal claiming McMahon made a $3million (£2.47million) settlement with a former employee with whom he allegedly had an affair.
Now, the publication is reporting that he paid four women – all said to be formerly affiliated with WWE – who signed agreements stopping them from discussing their relationships with or potential legal claims against McMahon.
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