"It is absolutely not true. FCW is not closing," Triple H said. "I don't know how the rumor started but I believe it's a situation where the 'dirt sheets' want to believe they have the scoop on everything. If anything, we are in the process of ramping up our entire developmental system. It's the lifeblood of our company. It's what feeds our future and in no way are we going to close it down."
Triple H went on to note that the territory may be relocated, or the TV tapings may be moved out of Tampa, and promised a major announcement about their developmental system after WrestleMania.
The report went on to take a swipe at Dave Meltzer of The Wrestling Observer, who initially broke the story, calling him "an unreliable online news source." However, Meltzer reported that WWE ended their relationship with television partner Bright House Network, which appears to be the case.
Meltzer's report from yesterday also did not state that WWE was doing away with developmental altogether, and noted that a developmental promotion may open in Connecticut and a second undetermined location. He also stated that Triple H wants the company to have a better system with significant improvements, which Triple H himself is saying.
"WWE's developmental system is being revamped, not shut down," said Triple H. "If anything, it's going to get bigger and better than ever."
Triple H also didn't deny that FCW would be moved, so obviously if FCW is moved out of Florida, then FCW in its current form would be closing. However, PWInsider.com reported today that the league may be moved somewhere else in Florida, likely to The Full Sail University in Winter Park. So while there may be some holes in the original report, to simply blast the original report as completely "erroneous" seems faulty.
Stay tuned for further updates on this story.