Vince McMahon abruptly retires from WWE
No matter what you think of professional wrestling, the current state of the business has largely been shaped by the insights and risks taken by longtime World Wrestling Entertainment owner Vince McMahon. Over several decades, McMahon elevated the niche business into a powerful moneymaker, signing major network deals, setting trends and turning unknown faces into household names. This success did not come without scandal and controversy. After 40 years at the helm of WWE, Vince McMahon has decided to retire.
Vince McMahon took to Twitter to announce his retirement from WWE at age 77. McMahon’s legacy will be hard to pin down. McMahon’s many successes were announced. One of his obvious accomplishments is his ability to turn Wrestlemania into a frenzied weekend for fans, beaten only by the Super Bowl. McMahon revolutionized the way people watched professional wrestling in the ’90s, delivering a more action-packed presentation that included brighter lights and sounds and sharper personalities. This success turned McMahon into a billionaire thanks to network television deals and WWE’s public grab.
But Vince McMahon’s retirement isn’t about old age, it’s probably scandal-related. According to the Wall Street Journal, McMahon is being investigated by WWE’s board of directors for a series of payments he made to women for misconduct McMahon allegedly perceived against them. Some of these silent payments are said to be in the millions of dollars. After the Wall Street Journal’s initial findings were revealed, more allegations emerged, forcing McMahon to walk away from the company he worked tirelessly to build into a juggernaut.
McMahon leaves behind a company that remains the world leader in sports entertainment. WWE’s slogan for years has been “Then. Now. Forever.” Although the card is subject to change, the show will continue to go on.