Breaking news. Vince McMahon has resigned from all of his positions in WWE and the TKO Group.

He released a statement to deadline.com on Friday

“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,” McMahon said this evening of the scorching lawsuit against him filed earlier this week. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name. 

“However, out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately,” the WWE co-founder added.

Nick Khan sent an email to all WWE employees

“I wanted to inform you that Vince McMahon has tendered his resignation from his positions as TKO Executive Chairman and on the TKO Board of Directors. He will no longer have a role with TKO Group Holdings…”