Reports say Vince McMahon has agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.
WWE Chairman and CEO Vince McMahon speaks at a news conference announcing the WWE Network at the 2014 International CES at the Encore Theater at Wynn Las Vegas on January 8, 2014
WWE’s Vince McMahon announced his retirement Friday amid sexual misconduct allegations and reports that he paid millions of dollars to women to silence them. "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," McMahon said in a statement. "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," he continued. "I hold the deepest appreciation and admiration for our generations of fans all over the world who have liked, currently like, and sometimes even love our form of Sports Entertainment."
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