TL;DR: Vince McMahon has resigned from his executive positions at WWE and UFC owner TKO Group Holdings following allegations of sexual misconduct and trafficking. The allegations stem from a lawsuit filed by former WWE employee Janel Grant, implicating McMahon and John Laurinaitis in violating the Trafficking Victims Prevention Act. McMahon has denied these allegations, calling them baseless, but chose to resign to respect the stakeholders of WWE and TKO. This isn't the first time McMahon has faced such allegations; in 2022, he was involved in a scandal concerning a separation agreement with a former employee and had temporarily stepped back from his WWE roles.

Resignation from Key Roles in WWE and TKO

Vince McMahon has stepped down from his positions at WWE and UFC owner TKO Group Holdings, where he served as the executive chairman. This decision follows allegations of sexual abuse and trafficking directed at McMahon. The allegations, which have led to a lawsuit against him, involve claims of violation of the Trafficking Victims Prevention Act. The lawsuit, filed by former WWE employee Janel Grant, accuses McMahon and former WWE head of talent relations John Laurinaitis of exploiting Grant for personal gain and to secure deals with potential wrestling recruits.

McMahon's Denial and Resignation Statement

In response to these allegations, McMahon has issued a statement vehemently denying the claims, describing them as "baseless" and expressing his intention to defend his name vigorously. He also mentioned his decision to resign was made in consideration of the stakeholders, employees, and fans of WWE and TKO Group Holdings. McMahon's resignation is a significant move, considering his long-standing influence and leadership roles in both organizations.

Previous Allegations and McMahon's History with WWE

This is not the first instance of McMahon facing allegations of misconduct. In 2022, reports surfaced about McMahon's involvement in a separation agreement and a $3 million payout to a former female employee with whom he had an affair. Additional reports suggested more such agreements with other women. Following these allegations, McMahon had temporarily stepped back from his roles at WWE, only to return to the board in January 2023. His latest resignation marks another pivotal moment in his career amidst recurring allegations of misconduct.