World Wrestling Entertainment has severed all ties with Ohio Valley Wrestling. Effective immediately, OVW will no longer be a WWE developmental territory. Here are the details:

-- A meeting was held today with all contracted developmental talent. WWE's John Laurinaitis and Ty Baily made the announcement that all of the contracted wrestlers training at OVW there would be heading to Florida Championship Wrestling - which is now WWE's only developmental territory.

-- WWE wants all of their developmental talent in one place. From a logistical standpoint, it didn't make business sense to have their developmental talent in Kentucky, specially since so many WWE employees live in Florida.

- Talent was told that there will be no releases stemming from OVW shutting down and that they will all be relocated to Tampa after finishing a few more weeks in OVW.

- Talent was told the trainers in FCW would be Tom Prichard, Steve Keirn, former WWE star Billy Kidman

- FCW is slated to run its first official TV taping later this month and there have been plans in place to run a regular schedule of live events in Florida.

The move had been suspected for some time as the amount of contracted talents working in Louisville had dwindled greatly in the last year and morale in OVW overall had fallen. Over the years, OVW has groomed a number of WWE's biggest stars, including Brock Lesnar, Batista, John Cena and Randy Orton, among others.