2022 has been a year of shocking events in the world of wrestling so far. One of the appalling revelations of this year was when Vince McMahon announced his retirement in late July. His retirement came from a series of allegations against him. Vince McMahon is the man who revolutionized the wrestling business. The company’s global success is attributed to Vince’s hard work for four decades. Today, WWE is the most giant wrestling company in the industry.
McMahon inherited the gift of making WWE, what it is today, from his father, a wrestling promoter. In the 1970s, Vince started his career as a ring announcer for his father’s wrestling promotion, Capitol Wrestling Corporation (CWC). After buying the company from his father, Vince turned the WWE into a blend of sports and entertainment with outlandish storylines and backstage drama.
Why did Vince McMahon retire?
Vince McMahon’s retirement stemmed from his history of having sexual affairs with multiple women. A report from Wall Street Journal in June revealed that the former chairman was involved in paying hush money to multiple women to cover up his sexual affairs.
Amid the allegations, McMahon was under investigation by the board of directors. Out of the multiple women, McMahon reportedly had an affair with a former paralegal who was also given to John Laurinaitis “like a toy”.
McMahon’s downfall also meant the end of the career of the then Head of Talent Relations, John Laurinaitis.
On June 17, days after the investigation, McMahon stepped down from his role as the CEO and put his daughter Stephanie McMahon in charge as the interim CEO. Despite stepping down as CEO, Vince McMahon still had creative control.
Following further investigations, it was revealed that Vince McMahon paid around $12 million in non-disclosure agreement settlements.
The follow-up article from the WSJ was the last nail in the coffin for Vince as it forced him into retirement. He officially announced his retirement on July 22 when he took to Twitter to celebrate the four decades of his life that he spent with the WWE Universe.
Interestingly, in his official statement of retirement, Vince McMahon no-sold the sexual allegations against him.
What happened after Vince McMahon’s retirement?
Following the sacking of former EVP of talent relations John Laurinaitis, Triple H assumed control as the new Head of Creative on July 22. On the other hand, Stephanie McMahon became the Co-CEO along with Nick Khan serving at the helm of the company.
McMahon’s exit resulted in a turbulent new beginning for WWE. The alleged misconduct affected WWE’s ability to sell sponsorship. However, the company was able to find its way back on an even keel.
The creative direction under the new management of Triple H is never seen before. The Game has already implemented a lot of changes since Vince McMahon’s retirement.
The most noteworthy recent change was introducing the WarGames match at Survivor Series last month. Vince McMahon has been laying low since his retirement and it is highly unlikely that he would make an appearance in WWE soon.
Click here for more wrestling news.
