WWE Chairman Vince McMahon had an opportunity to buy NWA but he did not. The owner of NWA Billy Corgan had no other option but to close down during the pandemic unlike other major wrestling promotions. Now, gradually they are gaining the strength to once again hold the shows.
Why did Vince McMahon denied the offer?
Billy Corgan recently spoke on Talk Is Jericho, and revealed that WWE turned down an offer to buy the NWA from its previous owner. John Cena Challenges Raw Star At SummerSlam?
He said that nobody wanted it because it was so devalued. It was Corgan who jumped in and brought Jim Cornette the mix but he had a brief run in the promotion. He also spoke about the revamped NWA which it is today. It has gone through several changes since Corgan took over.
“And then I purchased NWA. Crazily enough, it was owned by one person. It was so devalued. He tried to sell it to everybody. Nobody wanted it, as far as I know. He certainly offered it to WWE. They thought it was so worthless that they didn’t even just buy it just to take it off the market.”
“Then when I bought it, Jim Cornette and other people, and I loved Jim. ‘What the hell did he buy? He might as well have bought air. He bought three worthless letters.’ A lot of that type of stuff and certainly I sat around at one point and thought, ‘Well, if I started, Billy Corgan Wrestling or SP Wrestling’, and I thought, no, I want the history. I’ll take that history. I’ll take that on. I like the challenge of that.”
Recently, the NWA Women’s Title was defended at AEW Double or Nothing, but then Serena Deeb lost that title to Kamille a week later at the When Our Shadows Fall pay-per-view.