OVW Secures New Investment, Al Snow To Remain In Charge Of Wrestling Side Of Business

Ohio Valley Wrestling has secured new investment, with the promotion announcing they have entered a strategic partnership with Genvec Ventures. This will ensure the financial stability of OVW moving forward, according to the press release on the new deal. 

Ed Payer will become the CEO of OVW as part of the new partnership. Al Snow will remain in charge of the wrestling side of the business, while Matt Jones will remain the head of the majority ownership group.

OVW issued the following press release:

"OVW IS EXCITED TO ANNOUNCE THAT IT HAS SECURED A NEW INVESTMENT AND STRATEGIC PARTNERSHIP WITH GENVEC VENTURES. THE AGREEMENT ENSURES OW'S FINANCIAL STABILITY GOING FORWARD, ADDS GENVEC VENTURES AS A NEW MINORITY OWNERSHIP GROUP AND BRINGS ED PAYER ABOARD AS OUR NEW CHIEF EXECUTIVE OFFICER IN CHARGE OF DAY-TO-DAY BUSINESS AFFAIRS.

"THIS STRATEGIC PARTNERSHIP MARKS A PIVOTAL MOMENT IN OVW WRESTLING'S HISTORY. IT'S A FUSION OF FINANCIAL STABILITY AND A SHARED VISION FROM GENVEC VENTURES THAT PROMISES TO ELEVATE OUR BRAND AND THE WORLD OF PROFESSIONAL WRESTLING. AS THE NETFLIX SHOW "WRESTLERS" SHOWED THE WORLD, OVW IS A SPECIAL PLACE, WITH AMAZING WRESTLING LEADERSHIP IN AL SNOW, TREMENDOUS TALENT IN OUR LOCKER ROOM AND A FANBASE THAT IS UNMATCHED. WHAT WE NEEDED WAS RESOURCES, AN INFUSION OF TIME/EXPERTISE AND A SET OF INDIVIDUALS POISED TO ELEVATE THE COMPANY FROM A BUSINESS PERSPECTIVE. THIS PARTNERSHIP GIVES OVW ALL THREE.

"MATT JONES WILL REMAIN THE HEAD OF THE MAJORITY OWNERSHIP GROUP THAT INCLUDES A NUMBER OF OTHER PARTNERS IN THE KENTUCKY AREA AND WE ARE ALL EXCITED ABOUT BRINGING GENVEC'S NEW INVESTMENT AND IDEAS TO THE TABLE. MATT WILL STILL CONTINUE WORKING ON OV'S FUTURE TOURING IN KENTUCKY AND FOR THE FIRST TIME IN 2024, AROUND THE UNITED STATES. HE WILL ALSO FOCUS ON TELEVISION AND DISTRIBUTION RIGHTS TO TAKE OVW TO A WIDER AUDIENCE.

"OUR NEW PARTNERS ARE COMMITTED TO OUR ETHOS OF DELIVERING EXHILARATING WRESTLING ENTERTAINMENT AND NURTURING EXCEPTIONAL TALENT. AS NEW HEAD OF DAY TO DAY BUSINESS OPERATIONS, ED PAYER BRINGS A WEALTH OF BUSINESS EXPERIENCE TO OVW WRESTLING AND HIS OWNERSHIP GROUP BRINGS CORPORATE AND DIGITAL EXPERTISE FROM AROUND THE WORLD. HIS LEADERSHIP AND VISION ARE ALIGNED WITH OUR GOALS TO INNOVATE AND ENHANCE THE WRESTLING EXPERIENCE FOR OUR FANS. WITH ED AND HIS PARTNERS, A LARGE INFUSION OF RESOURCES AND UPGRADES HAVE ALREADY OCCURRED AND WE ARE POISED TO REACH NEW HEIGHTS AND EXPLORE EXCITING POSSIBILITIES.

"AS WE EMBARK ON THIS JOURNEY, OUR DEDICATION TO OUR FANS AND THE INTEGRITY OF OVW WRESTLING REMAINS STEADFAST. PREPARE FOR A THRILLING RIDE INTO THE FUTURE OF WRESTLING ENTERTAINMENT, WHERE TRADITION MEETS INNOVATION. THANK YOU FOR YOUR CONTINUED SUPPORT AND BE READY FOR MORE EXCITING ANNOUNCEMENTS IN THE VERY NEAR FUTURE."