WWE founder Vince McMahon resigns following sexual assault and sex trafficking allegations

(NBC, KYMA/KECY) - Vince McMahon, the founder of the World Wrestling Entertainment (WWE), has resigned.

McMahon served as the executive chairman of the board of TKO Group holdings in addition to being the founder of wrestling giant WWE.

He resigned his positions at both companies Friday in the wake of allegations against him of sexual assault and sex trafficking. McMahon has denied the allegations.

He issued a statement saying his resignation was "out of respect for the WWE Universe," the TKO business and its board members and shareholders.

The latest allegations against McMahon were in a lawsuit filed by Janel Grant, who alleges McMahon directed her to have sex with a WWE "Superstar" and other men.

Grant's suit seeks to void a non-disclosure agreement she said she reached with McMahon in early 2022.