Longtime WWE sponsor Slim Jim has made the decision to pause its promotional activities with the wrestling company following allegations against its leader, Vince McMahon. McMahon, who recently resigned as executive chairman of Endeavor-run TKO Group Holdings, has been accused of disturbing misconduct in a lawsuit filed by a former employee.
In a statement provided to Deadline, the Conagra Brands division, the parent company of Slim Jim, expressed its commitment to integrity and respect in all partnerships. Citing the recent disturbing allegations against McMahon, the statement announced the pause in promotional activities with WWE. This decision, according to Slim Jim, reflects their dedication to brand values and responsibility to the community.
Slim Jim gained widespread recognition during the 1980s and 90s when professional wrestler Randy “Macho Man” Savage starred in a series of its commercials. The jerky maker’s association with WWE goes back several decades, making this interruption in sponsorship all the more significant.
The allegations against McMahon came to light in a lawsuit filed by former employee Janel Grant. The suit includes explicit accusations such as sex trafficking, sexual abuse, and assault. McMahon has vehemently denied these claims, and a spokesperson for TKO Group Holdings stated that the matter is being dealt with internally.
Sponsorship and brand partnerships play a crucial role in WWE’s revenue streams. Slim Jim’s decision to pause its promotional activities comes at a particularly crucial time, just before the Royal Rumble, one of WWE’s high-profile events in Saudi Arabia. The outcome of this situation could potentially impact WWE’s financial stability and future partnerships.
Coincidentally, just one day before the explosive lawsuit, Netflix finalized a historic 10-year agreement with WWE, acquiring exclusive rights to air Monday Night Raw on linear TV. This groundbreaking deal, worth $5 billion, emphasized the value and marketability of WWE’s content. However, the allegations against McMahon now cast a shadow of uncertainty over the future of this partnership.
TKO Group Holdings, the parent company of WWE, merged with the UFC last year. This partnership aimed to create a formidable sports marketing portfolio and provide brands with access to an extensive network. However, Slim Jim’s decision to pause sponsorship raises questions about the stability and reputation of the TKO umbrella company.
The allegations against Vince McMahon and Slim Jim’s subsequent pause in sponsorship activities mark a tumultuous time for WWE. As the company navigates through these challenges, it must uphold transparency, address the claims with diligence, and actively work towards regaining the trust of its sponsors, partners, and fans. The resolution of this situation will undoubtedly shape the future of WWE and its ongoing relationships with major brands.