Vince McMahon has resigned from TKO.
As we reported earlier this evening, the longtime executive stepped down from his position in TKO Group following the latest sex-trafficking allegations and lawsuit filed against WWE.
In an update, McMahon issued a statement to Deadline.com commenting on the story.
“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,” McMahon said in the statement. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.”
He added, “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, effective immediately,”
We will keep you posted as additional information surfaces regarding this story.