Fans were distraught to learn that on Sunday, all events would be canceled, tickets refunded, and their favorite superstars would no longer be under contract.
The major hit was when fans tuned into PSE last night for Victory only to be met with a marathon of "I Love Lucy."
Not many details have emerged to how the largest promotion in the world suddenly ceased to operate overnight... until now.
There is a rumble that the UTA brand, all equipment, and contracts have been undergoing evaluation by an interested firm for quite some time. The writing off of James Wingate several months ago is now being said to have happened for him to facilitate the deal which we are finding out was finalized last Friday.
The new firm sent notices to the roster on Saturday. A few of the superstars who had clauses in their contracts, are said to have made a pretty penny from a silent buy out. But no one is talking.
Wingate made the first strides toward the deal being signed when he notified PSE that the Wrestleshow and After Hour brands would be ceasing. Victory was due to be renewed on PSE today, but the companies decided to walk away after the deals were finalized.
So, what is the future of the UTA? That is uncertain for now. An anonymous private equity firm holds the rights to what just last week was the largest and most profitable company running. Will they find the right mixture and resurrect the UTA, or is this the nail in the coffin at the end of a true legacy?
Only time shall tell.
For now, and maybe for the last time.. This is Rumor Man Stan Davis saying it has been a pleasure to bring you all of the hottest scoops, news, and rumors the UTA has had to offer.
"I NEED CHEESEBURGERS"
- Kentucky Tarzan