January 8, 2001 Wrestling Observer Newsletter: Paul Heyman considering selling ECW, more on Wrestler of the Year, more

Citing a number of factors, including the enormous pressure he’s been under over the past year, the large company debt and what he sees as the future landscape of the business, Paul Heyman said he was in serious negotiations to sell either a majority share or all of Extreme Championship Wrestling.

Heyman, who said his views have changed greatly over the past three months, said that he’s recognized the company, at the size it currently is or even in the shape it was, couldn’t survive the rapidly changing pro wrestling landscape, saying it’s a world of big boys and the independent operator simply can’t compete.

Heyman, who had talked as recently as a few weeks ago about scaling down the company, cutting back on payroll and running a regional promotion, said the economics of doing what would amount to old-school territorial wrestling don’t work today because of the rising costs of television.

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