Longtime WWE Chairman/CEO- Vince McMahon announced his retirement

Vince McMahon attending a UFC event with his daughter, current CEO- Stephanie McMahon, his son in law- Triple H and with Pat McAfee

It’s the end of an era, Vincent Kennedy McMahon has been the boss and majority owner of the WWE (former WWF and WWWF) since he purchased the company from his father 4 decades ago. But now it’s officially the end of an era as he’s announced his retirement amid misconduct allegations. He released the following statements.

“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. “

“Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment.”

“Our global audience can take comfort in knowing WWE will continue to entertain you with the same fervor, dedication and passion as always,” the statement 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 remains the majority owner of the company, and though no longer officially on the board will of course still hold a lot of clout in the company. This retirement follows allegations that McMahon paid $12 in hush money to suppress multiple affairs with women within his company.

Announcing that Khan will join his daughter as co-CEO is interesting because the very unproven rumor mill has suggest Khan himself is responsible for those leaks and had the most to gain from such. But that is all just popular speculation with no proof ever being presented.

Vince McMahon also indirectly played a huge role in the growth of MMA. When WWE Raw was on SpikeTV, he had control of shows that followed his and lead in. He gave permission for a new reality show called “The Ultimate Fighter” to immediately follow Raw. A lot of raw viewers stayed tuned in to the UFC show, and never left. TUF itself presented incredible growth to the UFC.

And Vince was also responsible for making two of UFC’s biggest stars into stars. Ken Shamrock left a dying UFC in the mid 90’s to go to the WWF, and when ken returned the ratings were massive, setting an all time PPV record for the UFC as well as an all time TV ratings record in losses to Tito Ortiz. This star power stayed with Ortiz who went on to break that record against Liddell.

And in 2008 former WWE champion – Brock Lesnar made his debut in the UFC, and he became the biggest box office attraction in mma history at the time, and still second to only Conor McGregor. He drew 1 million or more buys in 5 fights that he headlined for the company and still main event we the largest PPV in history that didn’t feature McGregor.

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