Cowboy Bill Watts becomes new WCW Boss

'Cowboy' Bill Watts has been appointed to the position of Executive Vice President of World Championship Wrestling. The bombshell announcement came at the beginning of June 1992. Watts had been out of wrestling since the mid-1980s, after his Mid-South promotion (renamed UWF in its later years) had been bought by Crockett Promotions. Watts is viewed as a tough, no-nonsense figure, who can create excellent episodic wrestling television. He has a disliking for the cartoonish aspects of current wrestling, and it's believed his intention is to cut out some of the over-the-top nonsense that has plagued the WCW product over the last few years. Watts' booking committee will be headed by Dusty Rhodes, Jim Ross, Tony Schiavone and Jim Barnett, who will all directly report to Bill Watts. In turn, Watts will report to his boss, Bob Dhue. Watts first creative decision as new WCW boss is to bring back Ole Anderson in an on-air role, as a troubleshooting babyface referee, and in an off-air role, as a road agent. Previously, Ole Anderson had a spell as a controversial, deeply unpopular, and ultimately unsuccessful booker in 1990.

Watts' predecessor, K. Allen Frey (pictured left), has been removed from his hands-on position with the product, and becomes Vice President of WCW Business Affairs. A change had been in the works for a few months, partly due to the declining house show business, but also partly due to the feeling that although Frey was a nice guy, and a good administrator, he wasn't necessarily a man with the correct amount of wrestling knowledge to affect a turnaround. The wrestlers viewed Frey as a vast improvement on Jim Herd, as Frey motivated the wrestlers by offering a cash bonus to the wrestler or wrestlers who had the match of the night on a Clash of the Champions tv special or pay-per-view event. He rarely appeared on-screen during his time at the helm, although he was a prominent figure in helping to repair the relationship between WCW and the NWA, leading to the upcoming NWA World Tag Team title tournament, and the NWA World Title tournament, to be held later on this year.

Speaking in WCW Magazine (September 1992 issue), Bill Watts said that this change in the hierarchy signified a new start for WCW:

"WCW will not be a second rate poor imitation of the WWF," Watts said. "In fact, WCW will not be anything like the WWF ever again. We are returning to the solid roots of pro-wrestling, and fans will see matches filled with solid pro-wrestling action."

"If you can't wrestle," Watts added, "then get out of WCW or go to the WWF, because WCW is going to consist of the toughest, roughest wrestlers I can find."

Watts has already begun making roster changes. J.T. Southern and Tommy Rich have been released, whilst Richard Morton and Mr Hughes have been informed that their contracts will not be renewed when they expire in a couple of months' time - although they will be retained on a per nightly basis.