A new ownership group has purchased a majority interest in the legendary Ohio Valley Wrestling promotion.

OVW announced today that Kentucky Sports Radio founder Matt Jones and former 21c Museum Hotels CEO Craig Greenberg have purchased the majority interest in the former WWE developmental territory, which has ran from Louisville, Kentucky since 1993. The ownership group also includes Dr. Jeffrey Tuvlin and Andrew "Hubby" Jefferson.

It was also announced that the legendary Al Snow will continue to run OVW's daily operations, while expanding The Al Snow Wrestling Academy. Working with Snow, the new ownership group will work to position OVW for continued growth in live events, online and broadcast events, and expanding the school.

To celebrate the new investment, OVW will run a free online event this Saturday, January 9 at 7:30pm. The 2021 Nightmare Rumble will feature a 30-Man Rumble Match, and a title defense featuring OVW National Heavyweight Champion Jessie Godderz. The event will air free on OVWrestling.com, live from the Davis Arena in Louisville.

Stay tuned for more on the new OVW investment. Below is the full press release that was sent to us today:

Matt Jones and Craig Greenberg Purchase a Majority Interest in Ohio Valley Wrestling

Wrestling Legend, Al Snow, Will Continue to Run The Historic Wrestling Company

New Ownership Group Offers Free Online Event to Celebrate

LOUISVILLE - The New Year is bringing new ownership and momentum to one of the nation's premier wrestling organizations. Today, Ohio Valley Wrestling (OVW) announced that two prominent Kentucky leaders, Louisville's Craig Greenberg and Kentucky Sports Radio host Matt Jones, will lead a group of investors who purchased a majority interest in the storied sports entertainment operation. The group plans to build on the rich legacy of Ohio Valley Wrestling and its Louisville-based training institute, grow the organization, promote and train the next generation of wrestling superstars, and bring exhilarating entertainment to wrestling fans locally and across the globe.

WWE legend Al Snow will continue to run Ohio Valley Wrestling day-to-day and focus on the continued success of the wrestling product. Working with Snow, Jones and Greenberg's group will work to position OVW for continued growth in live sports entertainment, online and broadcast events, as well as expanding the Al Snow Wrestling Academy, the only state-accredited trade school for professional wrestling and sports entertainment in the world.

Matt Jones is the founder and host of Kentucky Sports Radio, the largest radio show and website in the State of Kentucky. Jones is a New York Times bestselling author and part-time host on ESPN Radio nationally. Craig Greenberg is the former CEO of the award-winning hotel company, 21c Museum Hotels. The investor group also includes Louisville's Dr. Jeffrey Tuvlin and Lexington's Andrew "Hubby" Jefferson. In addition to Al Snow, the other existing owners, Larry Benz, Chad Miller and Joe Reeves, will remain active and involved in the company.

"With a leadership team combining business expertise and enthusiasm for local sports, we believe Ohio Valley Wrestling is poised for even more growth and we can't wait to see what the future holds for this outstanding Louisville-based organization," said Greenberg. "More importantly, during these challenging times, we understand that everyone could use some fun. As lifelong wrestling fans, Matt and I know OVW can play a huge role in delivering that."

"Craig and I are excited about building OVW's fan base and viewership, while showcasing the best wrestling in America," said Jones. "With a legend like Al Snow running the wrestling and our massive KSR fan base joining in, we believe we can take OVW to the next level and create one of the world's premier promotions right here in Kentucky. We're thinking big. This is only the beginning."

Since 1993, Ohio Valley Wrestling has been one of the premier training grounds for professional wrestling superstars. Some of the sport's biggest stars learned the ropes in Louisville including John Cena, Brock Lesnar, Cody Rhodes, Bautista, CM Punk, The Miz and many more. OVW's live shows have entertained generations of fans in Louisville and are shown every Tuesday live at 8pm on WBNA & 11am on Saturday, as well as digitally distributed to fans around the globe via YouTube, Roku, and many other platforms.

To celebrate the new ownership group's investment, Ohio Valley Wrestling is offering a free online wrestling experience this Saturday, January 9th at 7:30pm — the 2021 Nightmare Rumble. This event includes a 30 Man Rumble and a Championship Match featuring Jesse Godderz, Mr. Pectacular! The live event, which will take place at Louisville's Davis Arena, 4400 Shepherdsville Rd, will also be live streamed free of charge at www.ovwrestling.com.