(NationalUSNews.com) — According to SEC filings, the creator of World Wrestling Entertainment (WWE), Vince McMahon, might be leaving the sports entertainment industry following the successful merger of WWE and Ultimate Fighting Championship (UFC). Both companies will join under the same umbrella and be known as TKO.
McMahon indicated in the paperwork that he intends to leave the business following the successful merger. McMahon’s potential exit from the company is a shocking development, given his past comments on remaining involved in the industry until his death. McMahon is the creator of one of the largest sports entertainment brands in history, and despite being an extremely controversial figure, he maintains a level of popularity amongst fans of the industry that few stars possess. McMahon isn’t clarifying if he’ll be leaving the business in the coming months, but his silence regarding the decision prompts speculation from industry members.
The wrestling promotion known as WWE was initially known as the Greater National Wrestling Alliance and was founded by Jess McMahon in 1952; Vince McMahon then took over for his father in 1971 and grew the company into the World Wrestling Federation. At the turn of the 20th century, McMahon changed the company name to World Wrestling Entertainment. Since McMahon assumed control of the company, the value of WWE skyrocketed into the billions of dollars. McMahon successfully ran the company for decades despite facing numerous controversies and currently owns stock valued at billions of dollars. Despite his success as the company executive, McMahon is now the subject of a federal investigation and might face criminal charges.
The FBI is investigating McMahon for sexual misconduct, according to reports, and he might face time in prison. The FBI also demanded documents from companies involved with McMahon, but McMahon wasn’t charged with a crime. The investigation into McMahon isn’t the first time accusations of sexual misconduct have been brought against the former executive, and it might hinder the successful merger if further legal action follows. The investigation into McMahon might be why TKO isn’t looking to keep McMahon involved in the business. Despite these assumptions regarding McMahon’s position within the industry, neither McMahon nor TKO commented on a potential departure.
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