Protecting The Legacy

The following letter is dated February 28th, 2021

Ladies and Gentlemen who may read this letter, My Name is Paul Heyman. I was the Executive Director of the Extreme Wrestling Alliance. The reason I am writing to you that I was the Executive Director of the Extreme Wrestling Alliance is because as of today, February 28th, 2021, I hereby announce that I am resigning as the Executive Director of the Extreme Wrestling Alliance. While I appreciated the opportunity to be given the keys to the kingdom for a few months, you learn very on, that it is hard to recreate the magic that once was, the Extreme Wrestling Alliance. You can only bank on the core values of the EWA for so long.

I reflected back on my history and how people for years have tried to recreate the brand of violence that I created and I didn’t want this brand of violence to be filled with walking zombies and naked oiled up dudes running around. This brand of violence deserved better and I feel as though I can not bring the best out of this brand like I had originally hoped.

Thank you everyone who gave me the keys to the kingdom. I am forever grateful. Hopefully we meet again down the road.

Sincerely,
Paul Heyman

PS. We ran out of money.

One Year Later

A Zoom Conference Call was held with members of the EWA Board of Directors. A text summary of the conversation was made available to the public.

After many months of our accountants going through all of the books looking through all of the expense reports that were filed and trying to track down all of the expenses that Mr. Heyman made during his brief period of time as the Executive Director of the company, while we can not prove that Mr. Heyman stole the remaining money that was available to fund the company during the time he was running the day to day operations, it is pretty much clear that Mr. Heyman spent the money in ways that the company would not have approved of, including spending money on high price talent that never actually appeared for the company.

As of result, after many attempts over the last few months after receiving the letter from Mr. Heyman, which while dated in February, never arrived until May, we were unable to get a hold of Mr. Heyman to get answers to what happened to all the money, we as a board, have had to make a very difficult decision.

As of August 30th, 2022, the Extreme Wrestling Alliance will be filling for bankruptcy to help with the financial hole that Mr. Heyman has put the company in. Also as a result of what happened, we as a board of directors have decided that in the best interest for the legacy of this company, that we will be listing the company for sale.

In the sale process, we will be looking for someone or a group of people who are interested in maintaining the legacy of the promotion. We are not seeking someone who is looking to start up another wrestling promotion, as the legacy of the Extreme Wrestling Alliance is too important to the board of directors to let that happen.

We will be doing our due diligence to make sure that the EWA’s legacy is upheld to the fullest extent, despite what has happened thanks to Mr. Heyman.

Please stay tuned for more updates in the coming months.

Historical Timeline

August 30th, 2022 – The Extreme Wrestling Alliance filed paperwork to declare Chapter 11 Bankruptcy to restructure the debts of the company in the process of an upcoming sale.

January 1st, 2023 – The Extreme Wrestling Alliance Board of Directors officially put the EWA up for sale.

After two months, the EWA Board of Directors met via Zoom Conference Call on April 4th, 2023 to discuss the offers they had received up to that point.

With a variety of offers on the table, the EWA Board of Directors could not reach a majority decision, which resulted in the meeting put in recess for a couple of weeks, in which the board would meet in person on May 1st to come up with a decision.

On May 1st, 2023, the EWA Board of Directors gathered in person in Atlanta, Georgia to talk about the upcoming sale of the Extreme Wrestling Alliance. The board of directors were able to reach a majority decision and decided to accept an offer that they all deemed was fair and would keep the EWA’s legacy intact.

The board of directors contacted the interested party and told them their intention of accepting their offer. Over the next few weeks, the Legal Team representing the EWA and the new interested owner went back and forth working out all of the details of the sale process, which included all the rights to the history of the EWA and how the legacy would be maintained after the sale. Clauses were put in place to make sure that the legacy of the EWA would not be tarnished after the sale.

After three months, the legal teams for both companies were ready to announce the sale of the promotion. However, like most things do, details began to leak on Social Media of who the new owner of the Extreme Wrestling Alliance would be, resulting in chatter amongst historians and observers alike.

This also made former EWA talent and management aware.

A press conference was scheduled for September 6th, 2023 in Chicago, Illinois. To represent the Extreme Wrestling Alliance, the board of directors sent its legendary announce team of Mark and Rhino to announce the sale of the company to the media. The press conference was streamed worldwide on Youtube and Twitch on the EWA’s official channels.

September 6th, 2023

Mark:Ladies and Gentlemen, members of the media and all of the fans of the EWA watching worldwide on both our official Twitch and Youtube, welcome to one of the most historical moments in the history of the Extreme Wrestling Alliance.

While the company has not run an official event since 2020, with our last scheduled event scheduled to take place in February of 2021, we are happy that you all have gathered with us here today.

Rhino:The one thing I can tell everyone here today, that just like in the past with this company, anything you expect to happen, probably won’t and the unexpected ultimately will.

Mark:While that may be true, we would like to inform everyone here today, that as of today, the sale of the Extreme Wrestling Alliance has been finalized and that the interested party will be coming out here in mere moments to sign the contract and become the new owner of the company.

Rhino:I think everyone here is very much aware of the rumors that have been leaking on message boards.

Mark:You mean twitter.

Rhino:Oh yeah, its twitter now or X, something like that.

Mark:Yes, something like that. Moving on, it gives us great pleasure to introduce to you, the new owner of the Extreme Wrestling Alliance, Chicago’s own… TONY KHAN!

(Round of applause from the media as Tony Khan takes a seat)

Tony:Thank you Mark and Rhino for coming out here today to represent the great brand that is the Extreme Wrestling Alliance and it is my honor right now to officially say that after many months of back and forth negotiations with the EWA’s board of directors, that it is my true honor to be the new owner of the Extreme Wrestling Alliance.

I know there were a bunch of rumors on social media like these gentlemen just talked about and I know there are a bunch of you who have a bunch of questions for me as well, but let me just state that I take great pride in the legacy of the professional wrestling business. I have been to many EWA shows in the past, watching greats like William McConnell and Purgatory compete all around the world. Men like them paved the way for talents all around the world with many different skill sets to shine.

It is one of the reasons that AEW was started years ago, was to take some of the things the EWA once did and put it on a grander scale and now that a day like today has come to life, we can now put those letters out there and showcase the EWA’s legacy.

Mark:Before we get too far along, lets open it up to the media and what questions that they have for Tony.

Tony:Please, lets do it.

Mark:Lets pass the microphone around and get the first question.

Dave:My Name is Dave Meltzer with the Wrestling Observer, Can you go through the details of the process and what led to you buying the promotion?

Tony:Sure Dave. Like many, I had heard what was happening as I try and keep my ear to the ground to know whats going on at all times and everyone knows I am very big on social media and I was hearing the rumblings of what happened with Mr. Heyman and what state the company was in and I thought it would be an unique opportunity to see if I could help the company and help further the legacy.

After many months of talking and doing all of my research, I saw my opportunity and put an offer in and the board of directors were really nice to work with, as they were just looking out for the best interest of the company’s legacy, which I completely understand, I would also look out for the best interest of my companies if something like this was taking place. So after those many months, we came to an agreement and now here we are. We just came off huge events for AEW and now we are here today to sign the contract and have a huge celebration tonight on AEW Dynamite to announce to a worldwide audience this major announcement.

Mark:Alright, next question.

Mike:This is Mike Johnson with PWInsider. Tony, what would you say to the people who see what you have done with Ring of Honor these last few months and how it will relate to what happens with the EWA?

Tony:Good question Mike. If you look at it on a per number basis, the Ring of Honor Pay Per Views are doing some of the best numbers that the promotion has ever done. While many could argue about certain things, which many have and will continue to do, Ring of Honor is a top priority for myself and for many wrestling fans out there.

In regards to what will happen with the EWA, right now, is not to really do anything with the brand in the next few months.

I see you all raising your hands with questions based on that statement. Let me clarify, we are going to be taking the next few months and coming up with a full plan to map out what we will be doing with all of the assets of the EWA and build out what we truly believe will be the best version of the company.

And what I mean by that, is we are probably going to be building a platform to showcase everything that the company has to offer. We are going to use the archive to showcase its best matches, its most historical moments and celebrate its legacy on social media.

We are in the process of hiring an entire production team and a social media team to help us produce content showcasing everything in the archives, which is why its going to take us a few months before we get everything off the ground.

Mark:Next question.

Sean:Sean Ross Sapp of Fightful, do you have any plans to run any EWA events.

Tony:Good question Sean. As of this moment, we have a long…

???:I can answer that one.

Tony:What are you doing here Shane?

Shane:Did you really think that I would let this happen?

Tony:This really has nothing to do with you with all due respect.

Shane:Respectfully, it does. Tony, you and I both know, you have no plans to do anything with this company. This is just another one of the major announcements for your television show.

Tony:I disagree.

Shane:You would. When I heard that you were one the one attempting to buy this company, I had to step in and see what was truly going on here and after doing my research, I learned exactly what was going on and I can’t let it happen.

Tony:Well Shane, I am sorry you feel that way. I have big plans for the EWA.

Shane:Sure you do Tony.

Tony:Oh trust me, I do. You will see.

Shane:Problem is, we won’t.

Tony:What do you mean by that?

Shane:You know exactly what I mean by that Tony. Nothing is official until the name is on the contract.

Tony:Ha ha, real funny Shane, let me guess, you are just going to randomly sign this contract and claim that you are the new owner of Extreme Wrestling Alliance just like you became the owner of World Championship Wrestling.

Shane:While I wish I could outright say that the name on the contract does in fact read Shane McMahon, like I did many years ago when I bought WCW, I can tell you, that your name is in fact on the contract as the one buying the company and you can go ahead and sign that contract.

Tony:Well Okay then, I will.

(Tony signs the contract)

Tony:There you have it everyone and sorry for the disruption. I am officially the owner of the Extreme Wrestling Alliance.

Shane:Hold up a second. Now, I did say that your name is on the contract as the one buying the company, it doesnt mean that you are the one who will oversee the company to make sure the legacy of the Extreme Wrestling Alliance doesn’t just become something that sits on the sidelines to never be heard from again.

Tony:You really have no say in the matter Shane.

Shane:Well, you my friend, are incorrect.

Tony:What do you mean?

Shane:Well, the moment I found out that you were the one who was buying the EWA, I decided to make a few phone calls and talked to my friends on the board of directors. I watched what happened with Mr. Heyman and I am not going to let it happen again Tony.

Tony:Well, as much as I appreciate your opinion Shane, there is nothing you can do about it.

Shane:You would think that, but I sure do. During your entire negotiations with the EWA’s Board of Directors, the one thing you agreed to is to allow the final act of the EWA’s Board of Directors to be, to name someone as the sole protector of the brand, someone who will make sure that the company would maintain its integrity, which is where I come in.

The Board of Directors last night voted unanimously, that as their final act, that I would be that person. A persons whose name is in fact on that contract that you just signed. Go take a look Tony.

(Tony looks through the contract and slams it down)

Shane:As you can see Tony, while you may own the company, the protector of the EWA’s legacy is infact, in my hands.

Tony:We will see about this Shane, I will see you in court.

(Tony Khan walks off stage)

Shane:Thank you everyone for coming. It appears that we will have a legal battle in our hands.

Historical Timeline

Court Documents were filed over the next few months with attempts to remove Shane McMahon’s name from the contract. During this time, Tony Khan would place all plans he had on hold for the company, including the celebration he had planned for the night of the original announcement.

After many months of back and forth court cases, the judge ruled that everything in the contract is legal, as agreed upon previously by Tony Khan and his legal team. Tony Khan was furious knowing that a McMahon would be running the company he ended up purchasing, Tony Khan decided that the headache was no longer needed and would end up selling the company to Shane McMahon at a fraction of what Tony had originally paid for.

As of September 1st, 2024, after a year-long legacy battle, Shane McMahon would become the owner of the EWA. Shane McMahon took to the EWA’s streaming platforms to deliver an announcement.

Live Via Youtube & Twitch

Shane:Whats going on internets, Shane O’ Mac here to officially announce that as of today, the legacy of the Extreme Wrestling Alliance is OFFICIALLY back in my hands. As the name on all the contracts does in fact now read, Shane McMahon.

Now I know people are wondering exactly what does this all mean? Well the answer is simple.

WE ARE BACK!

To present something that is twenty five years in the making. A first of its kind mega event, that will be streamed for FREE live across the world, via the EWA’s official Youtube and Twitch Channels, along with Facebook, X and whatever other platforms the social media guys can get working in time.

This event will be something that will truly honor the legacy of the Extreme Wrestling Alliance. Some could even say that this event will even be… GLORIOUS!

Later this year, the Extreme Wrestling Alliance will present EWA 25: A historical tribute to the EWA.

What will happen on that night, we will hold a first of its kind hall of fame celebration honoring those who have paved the way, showcasing their biggest moments and matches.

We know the clock is ticking away. We are on a rush to the deadline.

We will see you all for EWA 25.

(Feed Ends)