Editor’s Note: While this article is geared toward finance, it is also geared toward the love of wrestling fans. I should also disclose that I occasionally contribute (wrestling articles) to wrestling magazine 1wrestling since 1996.

In 1964, 55 years ago, there was, a fourth wrestling organization created, The World Wide Wrestling Federation (WWWF). Vince McMahon Sr., jumping in the split pot, created by the National Wrestling Alliance (NWA) in 1956 (which spurred three other organizations prior) became the fourth, by having former NWA two-time (and the first WWWF) champion Buddy Rogers, lose to challenger, Bruno Sammartino and as the story goes, the WWWF was born.

Thirty years later, all three wrestling organizations (WWWF, NWA, American Wrestling Alliance, known as the AWA) thrived, until 1989, as the wrestling story goes, until both, now Vince McMahon Jr. from World Wrestling Entertainment (WWE), and Dusty Rhodes from the NWA, wanted to take both of their products to a national stage.

By 1994, in only five years, the NWA and the AWA, for many reasons, were defunct. The NWA (later to be known as World Championship Wrestling) and Extreme Championship Wrestling (ECW) companies were born, and by 2001 the wrestling monster, now the WWE, ate them both up.

In the last 20 years, some new companies like Lucha Underground, Impact Wrestling and Ring of Honor have been created. Never heard of them? Well it’s hard to thrive or even survive if you have no television deal.

After all, most will say just follow the old model: Develop talent, get a TV deal, sell out arenas, Pay-Per-Views, and T-shirts.

But in 2014, 50 years later, just like in 1964, a new wrestling nucleus, a fourth organization, and a new wrestling TV channel was created. And voila: The new TV deal, the Internet; the New talent: The Jackson “Being The Elite” Brothers, Cody Rhodes, Chris Jericho, Kenny Omega, Joey Ryan, and Adam Page. The traditional TV deal: starting in September on TBS. Selling out arenas: this might be the most amazing part: 34,000 people, two shows, 35 minutes.

All Elite Wrestling (AEW) officially opened Jan. 1 2019, 30 years after the WCW organization.

And if you saw their most recent show last weekend, “Double or Nothing,” it was the perfect complement to their first one last year, called “All in.”

Last weekend, from many independent wrestlers on a first-time national stage, to the Dustin vs. Cody Rhodes bloodbath, which many say was the best match of the night, to The Jackson Brothers defending their Tag Team Belts against The Lucha Bros. to Chris Jericho putting on a stellar match with the former IWPG champion, Kenny Omega, AEW, went, as their Pay-Pay-View was called “Double or Nothing”. And they won!

How did Vince McMahon respond on his flagship TV Monday Night Raw, two days later?  He didn’t! Their fans did! Every time Monday Night Raw had a down moment, all you heard was “AEW, AEW” with the same passionate voices similar to” ECW, ECW” 20 years ago.

As of this writing, the wrestling world has an audience of 4.4 million. As of 2002, when we had the last re-shifting of the wrestling audience, to 2019, the audience viewership is:

WWE 75%
AEW   8%
Impact 7%NW
A  3%
IWPG 3%
Lucha 2%
ROH 1%

So at first look, you would think Vince Jr. would not be worried. Upon further look we see four things:

1. AEW’s 8% was not there before Jan 1.
2. Maybe, more importantly, the last 3 years of independent wrestling, which has captured this growth has mostly come from (collaboration). The other companies started to work together 2 years ago. ROH with NWA. NWA with Impact. Lucha with Impact. Lucha with AEW and so on.
3. AEW debuts on TV in September of this year on TBS.
4. AEW has a three-year funding commitment by the Khan Brothers, who own the NFL Jacksonville Jaguars. The idea brainers, The Jackson Brothers and Cody Rhodes have taken that money and have invested in future talent. At the end of the Double or Nothing show by AEW last weekend, like I said, Chris Jericho won the rematch against Kenny Omega and then Jon Moxley (Dean Ambrose from WWE) came out and destroyed both. Almost every person in the 14,000 attendance had a “Being an Elite” T-shirt, which has been selling like hotcakes, because of their widely successful you tube streaming channel that they have had the last two years. The price: $50.00 PPV views, 800,000.

They actually “copied” from new NWA owner (and singer) Billy Corrigan widely successful avenue of re-creating a wrestling company, via online streaming. Despite being around since 1948, the NWA, the first official wrestling organization has hit hard times since 1990, as stated earlier and literally went into bankruptcy both in 1999 and 2009. Billy, also a wrestling fan, bought the company in 2016 for literally nothing.

Since then, by bringing back “the tradition of the NWA,” creating new stars and using rising stars effectively, like current NWA champion Nick Aldis (formally Magius in Impact) representing, rebranding and defending what has now been called “The Ten Pounds of Gold,” in both, the U.S. and abroad. And by collaborating with other organizations and showing the matches—on the Internet—Billy has slowly brought the company back to life.

Collaboration was essential and created wonderful magic when Cody Rhodes fought Nick Aldis for the NWA Title, at ALL IN, funded by no sponsors, just the independent wrestlers themselves!

Having Cody fight for Dusty’s NWA title, packed the house. And yes, Cody won.

And the interest was heighted when Billy decided to have a “rematch” later in the year at his “first paid” event in Chicago. The place was packed, nostalgia came all night, from former NWA tag team champion, Animal (Road Warriors) to NWA champions, Ricky Steamboat and Jeff Jarrett. Sadly, Cody lost. But of course, he was supposed to. Now, with it being tied, many wonder where the third match will be?

So, with AEW, fully-funded, having a TV channel soon, having great established and independent talent…and, oh by the way, did I mention like former WWE wrestlers and trainers Dean Malenko, Billy Gunn, and good ole’ JR, Jim Ross as the announcer.

But the real moral of this story beyond wrestling is the theory and practice of competition of any product or service, in this case wrestling. Wrestling, the last 20 years, has been a monopoly. It has gotten way up in price with the wrestling stale. Competition, if done correctly, brings the value and choice back, into the product and service and if that is on par– then the price of wrestling will actually come down!

Former WWE star and oldest son of Dusty Rhodes, Dustin, gave a magnificent performance, albeit a loss to his younger brother Cody last weekend. I can still hear the standing ovation after the match and seeing both Cody & Dustin crying. Why? Because it was pure storytelling wrestling. This story, in short, as said above, was between the Dusty (NWA) and Vince (WWE) wars of the 1980s. When the NWA split into WCW, Dusty, sold as, “the son of a plumber, a common man,” since 1972 was offered and accepted a deal to work in the WWE in 1989.

Vince turned him into the yellow polka dot man. It lasted three years and every bit was ugly and vengeful. Why did he stay? Well, his son Dustin (wrestling for WCW in 1989) came to WWE in 1995, as Goldust, yellow-colored species. Some took it as an embarrassment to the Rhodes family. Dustin said he needed to get away from the Dusty persona and try something different.

Twenty-five years later, Goldust walks into AEW to confront his brother Cody. Cody wants to destroy the “Attitude Era,” which he says turned Dustin into Goldust. An hour and ten pints of blood later, you can hear the Dusty chants all over the arena, again and again and again. Dusty is in heaven now (and I have no doubt he would have been proud).

During the post interviews, someone asked Dustin, how he felt Vince should take the new wrestling company. His answer was simple: “They have great wrestlers, a rising young passionate fan base, and just got a TV Deal. If I was Vince, I would watch my ass.”

If we can get wrestling to be cheaper, with better quality, like many say it was during the days of the 60s, 70s 80s and 90s again, I’ll join his infamous Vince Jr. “kiss my ass” club!

Professor Anthony Rivieccio, MBA PFA is the founder and CEO of The Financial Advisors Group, celebrating its 20th year as a fee-only financial planning firm specializing in solving one’s financial problems. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Bronx News, thisisthebronx.com and The Bronx Chronicle. Mr. Rivieccio is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University. For financial assistance, Anthony can be reached at (347) 575-5045.  Feel free to visit their FACEBOOK Business page for past Financial Focus articles:  www.facebook.com/iwantmytaxmoney

admin

Welcome to the Norwood News, a bi-weekly community newspaper that primarily serves the northwest Bronx communities of Norwood, Bedford Park, Fordham and University Heights. Through our Breaking Bronx blog, we focus on news and information for those neighborhoods, but aim to cover as much Bronx-related news as possible. Founded in 1988 by Mosholu Preservation Corporation, a not-for-profit affiliate of Montefiore Medical Center, the Norwood News began as a monthly and grew to a bi-weekly in 1994. In September 2003 the paper expanded to cover University Heights and now covers all the neighborhoods of Community District 7. The Norwood News exists to foster communication among citizens and organizations and to be a tool for neighborhood development efforts. The Norwood News runs the Bronx Youth Journalism Heard, a journalism training program for Bronx high school students. As you navigate this website, please let us know if you discover any glitches or if you have any suggestions. We’d love to hear from you. You can send e-mails to norwoodnews@norwoodnews.org or call us anytime (718) 324-4998.