Tag: Vince McMahon

Vince McMahon Announces Retirement From WWE

Vince McMahon has decided to call it a career amid investigations.
Vince McMahon has officially retire from his role as Chairman and CEO of WWE.
McMahon took to Twitter on Friday afternoon to make the announcement. This decision comes a month after he stepped away from his duties after investigations launched into alleged payoffs to former employees.

At 77, time for me to retire.Thank you, WWE Universe.Then. Now. Forever. Together. #WWE #thankful
— Vince McMahon (@VinceMcMahon) July 22, 2022
“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. 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,” McMahon said in a statement.
Vince McMahon shared that Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan would be taking over the reins. Additionally, McMahon took the time to thank the viewers for helping build what turned out to be a billion-dollar company.
“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.”

In June, McMahon decided to step away from his post as investigations went on about alleged payments to female employees. According to The Wall Street Journal, McMahon paid a total of $12 million to multiple women to keep quiet about alleged affairs and misconduct.
Vince McMahon enjoyed a career with WWE that spanned over five decades. He took control of the company during the 1980s from his father, Vince McMahon Sr. During his time, McMahon appeared as a broadcaster and on-screen talent, along with running the company from the top.
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Vince McMahon Steps Down As WWE CEO, Chairman Amid Investigation Into Alleged $3M Payoff To Former Employee

Vince McMahon has stepped aside one day after WWE board opens inquiry about alleged $3 million hush payment.
Vince McMahon has stepped aside as CEO and chairman of World Wrestling Entertainment after an investigation into an alleged hush money payment to a former employee. The report says that McMahon paid this employee $3 million over an alleged affair.
McMahon is cooperating with the inquiry and the WWE says he will “retain his role and responsibilities related to WWE’s creative content.” Stephanie McMahon will take over as the interim CEO and chairwoman.
“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,” Vince McMahon said in a statement.
A special committee of WWE’s board has begun an investigation into McMahon. the investigation is into money that was paid to a former employee that McMahon allegedly had an affair with. According to The Wall Street Journal, this agreement from January prevented the employee “from discussing her relationship with Mr. McMahon or disparaging him.”
The WWE released a statement saying:
“Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation.”
The company is taking these allegations “very seriously” and will work with an independent legal service to help with the review. A third party will also “conduct a comprehensive review of the company’s compliance program, HR function and overall culture.”
WWE said there is no other comment expected until the investigation is complete. Vince McMahon bought this company from his father, Vincent J. McMahon, back in 1982. Since then, he has built the WWE into a powerhouse and has helped create superstars such as The Rock, Hulk Hogan, and Stone Cold Steve Austin.
WWE is a publicly traded company where McMahon holds a majority of shareholders’ voting power. Shares have risen more than 30% year to date but did slide 4% before the opening bell on Friday.
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Vince McMahon On Threats Over The Years: ‘I Don’t Know How Many Rivers I’m Supposed To Be At The Bottom Of’

Vince McMahon has heard the outside noise but does not let it get to him.
It is unfortunate but threats are common to those in a position of power, especially when they do not do something that the public likes. In the case of Vince McMahon, he created the WWE taking some of the top professional wrestlers from all over the sport and making one league. Since purchasing the WWWF from his father during the 80’s, McMahon has received plenty of death threats.
This is not surprising given the fact that McMahon has built the WWE into a multi-billion dollar corporation that does not seem to be slowing down anytime soon. McMahon, who’s net worth is $2.2 billion according to Forbes, has seen the threats and is unphased. He recently sat down with Pat McAfee and discussed this topic.

“I don’t know how many rivers I’m supposed to be at the bottom of,” McMahon said.
“Death threats are what they are. I always felt like if you can know off the president of the United States, I’m easy to get to. I’ve never had a bodyguard or any of that stuff.”
Vince McMahon explained that this was part of the territory for testing the system. He took a chance and combined professional wrestling leagues, which aggravated promoters, but it ended up turning into a massive success.
This did not stop the threats and Hall-of-Fame analyst Jim Ross even stumbled upon a conversation before his days with the company. Ross was in a bathroom stall when he overheard some men discussing how they were going to put a hit on McMahon.
“They were talking about how they were going to off me. ‘This guy knows this guy. I know a guy who can do this. This guy has done this. It was really impressive.’ They all know people, so they’re talking about who was going to off me,” McMahon explained.
“So imagine Jim Ross. He doesn’t give a shit about Vince McMahon. He’s thinking about himself. He’s on the throne. He hears this and thinks he’s gonna be an accessory to murder. He takes one foot, puts it on the seat. Takes the other one, puts it on the seat, so now they can’t see his feet below the stall. And of course, Mother Nature is calling at the same time.”

During the interview, Vince McMahon even offered Pat McAfee a match at Wrestlemania 38. This would come against McMahon’s protege Austin Theory. It is unknown if unknown if this is confirmed just yet but McMahon would kick off the feud between the two. Of course, McMahon knows a thing or two about stepping in the ring.
McMahon has not competed at Wrestlemania since his street fight against Bret Hart in 2010. It is unlikely that the 76-year-old will take on a huge role in the ring but he has been able to keep himself in tremendous shape over the years.
Vince McMahon is an owner who always has something up his sleeve. This is how he has been able to turn the WWE into a billion-dollar corporation. As for any outside noise or threats, it just comes with the territory.
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