It’s the end of a legendary era.
On Friday, Vince McMahon announced that he is retiring from WWE amid an ongoing investigation being undertaken by the company’s board of directors into his alleged history of sexual harassment and inappropriate behavior.
“At 77, time for me to retire. Thank you, WWE Universe,” McMahon tweeted this afternoon.
“Then. Now. Forever. Together.”
The decision comes after McMahon stepped down in June over a handful of sexual misconduct accusation.
It’s believed he paid upwards of $12 million to four women over the last 16 years in an effort to keep these allegations from going public, the Wall Street Journal reported earlier this month.
All four women were formerly associated with the company and signed nondisclosure agreements to prevent them from discussing their relationships with McMahon.
Along with the above Tweet, the 77-year old released a lengthy statement.
“As I approach 77 years old, I feel it’s time for me to retire as Chairman and CEO of WWE,” McMahon 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.
“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.”
Upon McMahon stepping down a few weeks ago, his daughter Stephanie McMahon assumed the duties of interim CEO and board chairman.
She will continue to serve in this capacity until a replacement is found, with assistance from Nick Khan.
“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication, and passion as always,” Vince McMahon continued.
“I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan.
“As the majority shareholder, I will 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.”
McMahon purchased the parent company of the then-World Wrestling Federation (WWF) from his father, Vincent J. McMahon, in 1982.
He morphed it from a regional pro wrestling organization to a national draw in the 1980s and eventually turned WWE into a multi-billion dollar, global business.
McMahon also became known for his appearances onscreen as the villainous Mr. McMahon character, who famously feuded with Stone Cold Steve Austin during WWE’s so-called Attitude Era.
He’s very good friends with Donald Trump, as well.
