5 Facts About WWE's Vince McMahon Who Quit Amid Sexual Misconduct Charges

Wrestling icon Vince McMahon resigned from WWE's parent company, TKO Group Holdings, on Friday. The move comes in the wake of a federal lawsuit filed by former employee Janel Grant, accusing McMahon and another former executive of serious sexual misconduct. 

Grant alleged that McMahon, 78, coerced her into a sexual relationship as a condition for her job and shared explicit content of her with others, including WWE employees.

McMahon, denying any wrongdoing, cited his resignation as a gesture of respect for WWE. "I stand by my prior statement that Ms. Grant's lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth. I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name," he said in the statement, according to Business Insider.

Here are some facts about Vince McMahon:

-Vincent Kennedy McMahon, born on August 24, 1945, is a prominent American businessman known for co-founding WWE, the world's largest professional wrestling promotion.

-He graduated in business from East Carolina University in 1968 and acquired the company from his father, Vincent J. McMahon in 1982.

-Vince McMahon, who started as a commentator in WWE, adopted the character of "Mr. McMahon" in 1997, becoming a memorable, villainous figure known for his catchphrase, "You're fired!"

-Vince McMahon's leadership almost monopolised the wrestling industry, leading to the creation of the annual spectacle WrestleMania, one of the world's most successful professional wrestling events.

-Beyond wrestling, McMahon has also been a part of other sports ventures, founding the World Bodybuilding Federation and the XFL, an American football league.