On September 26, 2011, the U.S. District Court in Bristol, Connecticutt ruled in favor of Scott Levy in his lawsuit against the World Wrestling Federation and Vincent Kennedy McMahon. Scott Levy was awarded ten million dollars in damages on his claim that he was an actual W.W.E. employee instead of a private contractor during his tenure in the company as "Raven". The ruling sent shockwaves throughout the business as the W.W.E. quickly scrambled to sign new contracts of their superstars to make them actual employees instead of private contractors but they got some help as the effects of the lawsuit rippled throughout the industry.The lawsuit did more damage to Total Nonstop Action and other companies as they were forced to shutdown as they decided the company wasn't worth having to pay for full benefits to their roster. T.N.A. announced they would be closing after the 2012 Slammiversary show.This left the W.W.E. as the only real company in the U.S. and McMahon figured he could more less pay them what he seemed as fair.
When Chris Jericho received his offer from McMahon, he was insulted by the low ball offer and turned it down. Jericho decided to talk to other superstars and they revealed that they also received low offers from the W.W.E. Jericho decided to stay at home and get ready for his tour with Fozzy instead of wrestling at Wrestlemania.
While making his final preparations for the Uproar Festival Tour, Jericho was approached by concert promoter, John Reese and representives of LiveNation. They discussed the current professional wrestling industry with Jericho and asked him if he would be willing to invest and spearhead a new wrestling promotion that they will help back and promote. They asked Jericho to make some noise behind the scenes and see what kind of reaction a new company would have. Jericho questioned if they were serious but they proved it when they informed him that they already had a corporate sponsor in No Fear Clothing to name the promotion No Fear,a television contract with SpikeTV to fill the void of T.N.A. going out of business and a pay per view agreement with Dish Network and Time Warner cable to start off. They informed him that they had a studio ready for high definition television tapings set up in Charlotte, North Carolina and their plans to do live events through the regular line up of arenas used by LiveNation's many entertainment tours. Jericho agreed that he would see what he could do, thinking that nothing much would come of it. They put Jericho in charge of securing talent as the they concentrated on signing experienced wrestling veterans for the front office. They set the goal of getting the company up and running in a year with them starting up around January in 2013.
Jericho's first call was to his good friend Edge and asked him about the idea he was approached about. Edge thought of the pros and cons and then decided they would ask Christian to secretly see what was current superstars contract status with the W.W.E. was and to see who would want to abandon ship. Christian knew that most of the superstars contracts ran out after Wrestlemania, giving Vince the power to make changes after the biggest show of the year.
Jericho started making calls to T.N.A. stars and quickly had agreements with Jeff Hardy and Kurt Angle to come aboard with himself and Edge as investors in the company and to be on the current roster. Hardy and Angle was able to secure a lot of the big names from T.N.A. and the roster was quickly taking shape. Jericho vas a little upset when LiveNation signed Jeff Jarrett on their own and brought him onboard as an investor, citing that he was one of few people around that have successfully started a promotion from scratch. After a meeting between the two, Jericho walked away with the meeting feeling Jarrett would be an asset.
Christian said he was able to secure some superstars with Alberto Del Rio,Daniel Bryan, The Miz and Rey Mysterio being the biggest names. Mysterio and Del Rio had demands that they would be able to compete in shows in Mexico for their own personal gain and Mysterio wanted in as an investor. Jericho quickly agreed and the superstars no-showed the RAW after Wrestlemanina to the shock of Vince McMahon when their contracts expired.
A press conference was called the Monday after Slammiversary as No Fear Wrestling was announced to the public for the first time. The meeting saw John Reese,Chris Jericho, Edge, Jeff Hardy, Kurt Angle, Rey Mysterio and Jeff Jarrett fielding questions about the direction of the company and the announcement that wrestling legend, Sting has also become an investor. Sting informed reporters that he had no plans at this time to take part in an on-air role. The company announced the opening of their website where more details will be posted. People took notice of the company's big plans when well known names in the wrestling business had been hired to run the company such as former W.W.E. executives, John Laurinaitis and Bruce Prichard to run the talent relations with Chris Jericho while the creative team will be led by none other then Paul Heyman with writers Brian Gerwitz, David Lagana along with Edge. Retired wrestlers Chavo Guerrero Jr., Al Snow, Joe Legend and Lance Storm was listed as producers.
No Fear wrestling was taking shape and looked to be on their way to big things but with only five months before going on air there was still alot of work to do with the roster. They received a huge blow when it was revealed Edge would need neck surgery and be out for an unknown amount of time. The company was already facing a big problem as Edge was written in as being one of the company's biggest heels and Jericho won't be able to be a regular contributor yet because of Fozzy's European Tour. The company was getting a taste of how hard the wrestling business really is, when the unexpected happened...........