Vince McMahon announced his retirement as WWE chairman and CEO on Friday. "As I approach 77 years old, I feel it's time for me to retire as Chairman and CEO of WWE," McMahon said in his statement. "Throughout the years, it's been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you. 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. 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."
The announcement shocked the Wrestling Community as it trended number one in the early afternoon on social media. McMahon started the wrestling business in 1969 for Capitol Wrestling Corporation (CWC).
In the 1980s, McMahon purchased the World Wrestling Federation (WWF), now World Wrestling Entertainment (WWE), and expanded the business by promoting different areas outside the Northeast region. He recruited Hulk Hogan who became a megastar, expanded through the national mainstream on MTV programming, celebrities' involvement, and pay-per-views. The Golden Era impacted the first WrestleMania held in Madison Square Garden (MSG).
After the New Generation Era, WWE reached its highest peak in the Attitude Era. McMahon cemented WWE's top wrestling promotion by winning the Monday Night Wars against the rival World Championship Wrestling (WCW). WWE was victorious in the TV ratings and the downfall of WCW led McMahon to acquire the business. Later, McMahon would acquire the assets of another wrestling promotion called ECW, Extreme Championship Wrestling.
McMahon has accomplished so much in pro wrestling that he did other business dealings. In 2001, McMahan launched the XFL, a professional American football league. Due to low TV ratings, the league canceled. He tried again in 2020. However, due to the pandemic, the league filed for bankruptcy. The XFL was purchased by Dwayne "The Rock" Johnson, Dany Garcia, and RedBird Capital Partners. The XFL changed the outlook on TV broadcasting. Other sports, including the NFL, established new ways for viewers to see the games.
Lastly, McMahon established the WWE Network. It is a streaming service where the fans can relive the moments of the past, present, and premium live events.
McMahon has done so much in his impeccable career. But, no matter how many accomplishments were completed, he will be known as the person who retired amid probes into alleged sexual misconduct allegations.
***NOTE*** Reports from many, including the daughter, Stephanie McMahon, stated that McMahon retired as the CEO and Chairman. In McMahon's tweet, it is not in detail as to what he is retiring. Although he mentions his age, could he return? The man dedicated his whole life entertaining the world. He is responsible for making the WWE into the global phenomenon it is today.