WWE issued the following press release today:

February 7, 2008

World Wrestling Entertainment® announced today that Ohio Valley Wrestling (OVW) will no longer be affiliated with World Wrestling Entertainment as an official developmental territory, making Florida Championship Wrestling™ (FCW™) WWE’s official development training facility for talent around the globe.

“Ohio Valley Wrestling has been a tremendous partner with World Wrestling Entertainment through the years, and we thank them for their work in developing many of today’s WWE Superstars,” said John Laurinaitis, Senior Vice President of Talent Relations. “We look forward to Florida Championship Wrestling playing host to the next generation of WWE Superstars recruited from around the world.”

Last November, WWE announced the formation of Florida Championship Wrestling, a new training center for future WWE Superstars. The facility has four wrestling rings and approximately 35 contracted athletes, with plans to increase that number to more than 70 in the near future. The facility is now fully operational, as WWE undertook large-scale renovations to FCW in order to accommodate its training needs. The finished training facility is more than 10,000 square feet, including an arena that will seat nearly 300 fans. The new training facility will also host a weekly show in front of a live audience, to be broadcast for regional television.

FCW is owned and operated by Steve Keirn, a former professional wrestler and producer for WWE. WWE trainer Tom Prichard oversees all talent training at the facility.