VINCE McMAHON RETIRES AMID MISCONDUCT ALLEGATIONS
AFTER REIGNING ATOP the wrestling industry for four decades, Vince McMahon’s tenure as the chairman and CEO of WWE came to an abrupt and disgraceful end in 2022, following allegations that he paid several former employees millions of dollars to keep quiet about sexual affairs between McMahon and his subordinates.
In June, the Wall Street Journal broke the story of the WWE Board of Directors investigating charges that McMahon had paid $3-million in “hush money” to a former paralegal with whom he was romantically involved. During the investigation, McMahon, who has been married to former WWE exec Linda McMahon for 56 years, temporarily stepped aside as WWE CEO. But he remained publicly defiant, even appearing on Friday Night Smackdown to deliver a cryptic message, in which he reminded fans of his company’s mantra: “Then. Now. Forever. Together.”
However, in subsequent weeks, the pressure grew for McMahon to resign from WWE altogether. News surfaced of financial settlements with at least three other women—including a former wrestler—to keep quiet about alleged affairs and other misconduct involving the third-generation promoter, who had led WWE since buying the company from his father in 1982. In total, McMahon doled out nearly $20-million in previously undisclosed payments, according to later reports.
On July 22, Vince McMahon, age 77, finally announced his retirement. In a public statement, he said, “Throughout the years, it’s been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you.”
With McMahon’s departure, Nick Khan, who’d served as WWE president since 2020, would share the role of co-CEO with McMahon’s daughter, Stephanie. Hours after her father announced his retirement, an emotional Stephanie McMahon opened Smackdown by leading fans in a chant of “Thank You, Vince.”
Despite having no formal role in the company, Vince McMahon would remain WWE’s largest shareholder.
Long regarded as the most influential wrestling promoter in American history, McMahon left behind a complicated legacy of success and controversy. His vision for a “Rock ’n’ Wrestling Connection”—and his decision to feature Hulk Hogan as his top star—led to a national expansion that eventually put his competitors out of business and made the World Wrestling Federation the most dominant pro wrestling brand on the globe.
But McMahon, famous for his outsized ego, ran into his share of trouble over the years. In 1993, he was indicted on federal charges of conspiring to distribute illegal steroids to his wrestlers. He was acquitted following a two-week trial in the summer of 1994.
McMahon faced other major challenges during his career, including his failed venture into professional football, the XFL, and losing ground to Ted Turner’s World Championship Wrestling in the mid-1990s. But McMahon almost always landed on his feet, as he did after “double-crossing” Bret Hart at the 1997 Survivor Series. Ever the opportunist, Vince parlayed the episode into the creation of his “Mr. McMahon” character, which became a central figure during WWE’s most successful business period.
RECORD-BREAKING ’MANIA BRINGS HIGH-STAKES MATCHES, BIG RETURNS
of WrestleMania featured record numbers of viewers, long-anticipated returns, historic title changes, and epic showdowns. And it helped create the
