January 30, 2012
Vince McMahon opens Raw with an explosive announcement, after much thought and discussion with his family he has decided that after WrestleMania- the WWE will be shutting down. The reason he explains is that after 40 years of working 18 hour work days, 40 years of traveling almost 300 days a year, after 40 years of missing his children’s birthdays, missing Little League games, missing high school graduations, missing his children getting married, missing the birth of his grandchildren- in short he has missed his children’s entire life for the WWE, but it was when he realized that he had missed the birthday of his grandchild Declan and that he missed his first Little League game that he was not going to let the lives of his grandchildren pass him by. Vince McMahon says that not all that happened in the past 40 years was bad- he did build to most powerful sports entertainment company in the world, but that was not enough to stay in the fight. In talking with his wife and children he realized that his family had all moved beyond the WWE and that without a McMahon in charge, it just would not be the WWE- therefore he has already begun the process of shutting down the WWE and after WrestleMania- all wrestlers will be released from their contracts and that all entities under the WWE umbrella will be sold off.
February 12, 2012
Fred Waring is a 28-year old and a junior executive looking to move ahead at his present company, he is seconds away from making his biggest presentation- a presentation that could either make him a superstar or see him run the mailroom. He enters the boardroom and surveys the scene 12 men and women of various ages, ethnic backgrounds- the only thing they have in common is they are all staring at him and waiting for his presentation. At the head of the long table is the man himself the CEO, his green sweater is unzipped and he sits back his cold blues eyes staring right at Fred- Fred tries not to show it but he is intimidated by the legendary figure. Fred begins explaining that he has a new revenue stream for the company…professional wrestling. There are a few snickers amongst the executives but Fred continues. The company would own 100% of the product they could control everything from who wins to who loses; they could place the logo and guarantee it would be seen on television every week. One of the executive says that they already have that with their partnership with leagues such as the NBA, NFL and Major League Baseball. Fred is ready for this and responds that is true but when ESPN shows highlights of the Carolina Bobcats on their way to the worst record ever for an NBA team and our logo is visibly shown- does that really help? Professional wrestling, they would control everything! A guy is scripted to lose ten matches in a row- the logo disappears, a guy is scripted to gon and become the underdog darling of the fans and win the championship- will then we slap our brand all over his gear- built in commercial. Fred also mentions that professional wrestling appeals to all the demographics they desire he explains that professional wrestlers are known worldwide and better the sport of professional wrestling is as traditional as football and baseball, a fact that is highlighted by the fact the during the early days of television the Dumont Networks premier show was Wrestling from the Marigold. But the athletes that compete are performing the types of moves and showcase the type of athletic ability that the “extreme sports fan” enjoy. Professional wrestling is the perfect vehicle to promote their brand. The CEO says who would head such a promotion-who would be the ‘Vince McMahon’ behind this new entity? The young executive says he has just the guy. The CEO says he will think it over but he adds that the young exec better get someone who can promote the product - better yet get someone who wants to promote the product. Rich shocks the entire board room by telling them that he would run the promotion. He cues the IT tech to bring up the first slide.
GWF Business Model
How would the GWF make money?
• Live Events
o 52 smaller venues- television broadcast
o 12 pay per views
o 12 PPV per year.
o The GWF would need to avg. roughly 400,000 buys @ $20- this would generate roughly $100 million dollars
How would the GWF maintain competitive advantage?
• Unconventional Leadership
o Offer the athletes’ medical coverage; this one ‘carrot’ would entice the wrestlers to take less money.
o Unconventional leadership Fred Waring someone who is ultimately a fan of the sport, passionate about it, and not necessarily “Business School trained”
• High barrier for entry
o Wrestlers would only be signed to one year contracts, this would free the GWF from being saddled with ‘dead weight’
• Strategic alliance with the CW Network
The GWF would slowly expand to include clothing, DVDs, action figures, video games, etc. rather than just tickets sales to fights.
Fred turns to the board of directors, they seemed…impressed. He waits then the CEO finally speaks and tells Fred that he is impressed and then addresses the boardroom, “ladies and gentlemen, it seems that Nike is in the wrestling business.” Fred Waring remains calm, on the outside, on the inside he is jumping for joy he had just convinced Phil Silver to invest in professional wrestling- then it dawned on Fred, that was the easy part- now comes the real work.
February 14, 2012
CNN reported that WWE Studios was purchased by Universal Studios for $450 million dollars.
February 15, 2012
CNN reported that WWE Music Groups was purchased by Facebook / Spotify for $27 million dollars.
February 17, 2012
The CW begins airing television spots on the debut of the GWF on April 4th
February 20, 2012
GWF.com goes online and list the first five dates of the GWF Full Throttle.
April 4 – Manhattan Ballroom [New York, New York]
April 11 – Frontier Fieldhouse [Chicago, Illinois]
April 18 – Grand Olympic Auditorium [Los Angeles, California]
April 25 – War Memorial Auditorium [Fort Lauderdale, Florida]
May 2 – George R. Brown Convention Center [Houston, Texas]
Which all lead to the 1st ever GWF pay-per-view, GWF Inception.
May 6 – Madison Square Garden [New York, New York] GWF Inception
February 21, 2012
Fox Business reported that WWE Home Video, and all contents of the fabled WWE video library, were purchased by Netflix for $200 million dollars.
February 23, 2012
Fred Waring relocates the GWF offices from his office in the Nike offices in Beaverton, Washington to a small office in New York. The office space located at 817 Broadway, is small and old- but Fred stands in the middle of the space and looks around- the first thing he needs to do is…got to Staples and but a desk and chair.
February 23, 2012
The CW Network announces that they have found enough sponsorship deals for a year’s worth of programming- the number deal belongs to Kia Automobiles who agree to a 4-year 8 million dollar sponsorship deal.
March 6, 2012
Bloomberg News reported that WWE Books would be purchased by Apple-and that all future WWE books will purchased exclusively through the Apple Store, for a 110 million dollars.
March 8, 2012
Fred Waring sits in his office in the sparse GWF office in New York City, the only other employee is Meredith, a sixty year old grandmother of five; who took the job at the urging of her grandchildren; so she could get autographs of the wrestlers. She is the lobby receptionist; Fred hears the door open and Meredith greets the individuals and escorts them to the meeting room where Fred is waiting. In walks Jim Cornette, Dutch Mantel and Gabe Sapolsky- three of the greatest minds in professional wrestling.
After some small talk, they get to business- Fred wants to bring them on as his ‘support staff’- they would run the wrestling aspect of the GWF and he would run the business aspect of the company. Jim mentions that he is under contract with Ring of Honor. Fred explains that while he enjoys Ring of Honor and feels they have the best roster today- they just can’t seem to get out of their ‘bingo hall’ mentality- Fred tells Cornette that he should be on the national scene- showcasing quality wrestling to the millions of wrestling fans worldwide instead of the hundreds at the arena. Cornette, surprisingly, is speechless. Fred then explains that he wants the GWF to return to the tried-and-true formula of heels and faces, the main difference from the WWE would be the idea of moving the various angles along by either matches or interviews and try to reduce the number of segments. Fred likens it to the old World Championship Wrestling show from the 80’s. The one thing that Fred is very serious about is cost, this is not Ted Turner’s blank check and he is not Eric Bischoff- this is Nike putting down 5 million towards salary- therefore forget John Cena, The Undertaker, Hulk Hogan- we need to sign younger talent and turn them into main event talent. They talk into the wee hours of the night till the four men sit and stare at the white board and the roster for the GWF…maybe.
March 9, 2012
PWInsider.com reported that the Global Wrestling Federation has signed Dave Marquez & Matt Striker to be the lead announce team for the fledgling fed which will debut on April 4. Josh Matthews was also signed to handle interviews. GWF President, Fred Waring explained the decision to sign Marquez & Strikers. He explained that the GWF needs announcer who can tell a story and explain the action in the ring, not read off a list of scripted sayings or shill the merchandise- tell a good story and the merchandise will sell itself.
March 23, 2012
Fred Waring & Jim Cornette hold a press conference at the ESPN Restaurant in New York to introduce the roster for the GWF. Jim Cornette had the honor of introducing the men and women that will revolutionize wrestling.
Samoan Island Team [Jey Uso & Jimmy Uso]
The High Flyers [Paul London & Brian Kendrick]
The Rotundos [Windham Rotunda & Taylor Rotunda]
The Motor City Machine Guns [Chris Sabin & Alex Shelley]
The Latin American Exchange [Carlos Colon Jr. & Homicide]
The Briscoe Brothers [Jay Briscoe & Mark Briscoe]
The All-Americans [Charlie Haas & Shelton Benjamin]
The American Wolves [Davey Richards & Eddie Edwards]
Southern Comfort [Isaiah Cash & Roscoe Jackson]
The Canadian Bulldogs [Harry Smith & Tyson Kidd]
Chavo Guerrero Jr.