United States Wrestling Association The United States Wrestling Association or USWA was a professional wrestling promotion based in Memphis , Tennessee . It was founded by former CWA owner Jerry Jarrett . History . Foundation . The USWA was founded as an attempt to create a third national promotion , alongside Jim Crockett Promotions / WCW , and the WWF ( now known as WWE ) . The USWA was created through a merger of the WCCW ( from Texas ) and the CWA ( based in Memphis ) . It originally promoted shows , usually headlined by Jerry Lawler , in both Tennessee and Texas . WCCW withdraws . The Dallas promotion ( formerly WCCW ) , which was 40 percent owned by the Von Erich family , withdrew from the USWA in September 1990 due to a revenue dispute . According to Skandor Akbar , there were lawsuits involved , most notably when Jerry Jarrett was sued by Kevin Von Erich . That promotion reverted to the World Class name , but ceased operations two months later due to lack of revenue . Jerry Jarrett and Jerry Lawler brought the USWA back to Texas , but only on a limited basis , while promoters Joe Pedicino , Max Andrews , and Boni Blackstone were getting the new Global Wrestling Federation ready for a spring 1991 debut at the Sportatorium . Several of the former World Class and USWA Dallas wrestlers joined the new GWF , while others from the old CWA remained with the USWA . Talent exchange with the WWF . In 1992 , the USWA began a talent exchange with the WWF , which saw Lawler sign on to Vince McMahon ' s federation , while several high profile WWF stars appeared in the USWA . Dallas wrestler Gentleman Chris Adams spent a few months in the USWA in an angle involving Brian Christopher and Toni Adams , splitting his time between Memphis and Dallas ' GWF during this time frame . Status as the last full - time wrestling territory in the United States . The USWA survived for years . Despite being the last full - time wrestling territory in the United States after the national expansion of the WWF , the USWA was able to reinvent itself as a territory for young , up and coming wrestlers to make their names in professional wrestling , to one day perhaps work for either the WWF or World Championship Wrestling ( although their working relationship with the WWF is better known , the USWA also had a brief working relationship with WCW in 1995 ) . Struggling to stay relevant during the " Monday Night Wars " . The wrestling landscape changed in 1995 - the Monday Night Wars began , with WWF and WCW battling for cable television supremacy on Monday nights each and every week . Unfortunately for the USWA , their biggest crowds came every Monday night at the Mid - South Coliseum in Memphis , Tennessee . With a growing wrestling viewership on Monday nights that could watch pay per view - quality wrestling matches for free on television , the live attendance at the marquee events for the USWA began to dwindle . A move to Thursday nights did not help what was becoming inevitable - the demise of the USWA . Closure . A combination of a poor line up , sub - standard venue , lack of talent and holding the show on a Thursday night led to a show on October 3 , 1996 drawing the smallest crowd in the history of Memphis wrestling : just 372 fans , paying $ 1 , 800 , to the Big One Flea Market . The future of the promotion was being questioned , following the previous week ' s resignation of general manager Randy Hales . The Louisville and Nashville crowds had stayed consistent , but the Memphis crowds , which in the past had carried the promotion , had fallen over the past few months . In addition , the Big One ( Flea Market ) pavilion was less than inviting , the zigzag roof of its original owner ( The Treasury Stores ) causing its major leaking problem . Although Lawler was working for the WWF , he and Larry Burton ended up buying the USWA from Jarrett and immediately selling it to businessman Mark Selker ' s company XL Sports Ltd . in early 1997 , and the USWA went out of business by November of that year , resulting in a nasty lawsuit between Burton , Selker , and Lawler . In a civil RICO trial , a Federal District Court jury in Cleveland , Ohio eventually returned a verdict on which judgment was entered . The jury determined that Larry Burton and his son Jason Bertman had engaged in racketeering and awarded XL Sports treble damages in the amount of $ 2 , 595 , 000 . The jury also determined that Mr . Burton was liable for fraud and conversion , and awarded XL Sports $ 235 , 000 in compensatory damages and $ 3 , 300 , 000 in punitive damages . The United States Court of Appeals for the Sixth Circuit upheld all these judgments .