Who're Triple AAA Wrestling and Why Has WWE Acquired Them?

World Wrestling Entertainment has recently completed the acquisition of a 51% stake in the Mexican wrestling promotion, Triple AAA. This prompts the questions: who is Triple AAA, and why has WWE decided to pursue this strategy?

Who're Triple AAA Wrestling?

Lucha Libre AAA Worldwide is a Mexican wrestling promotion, distinct from an American insurance company sharing a similar name.

Triple AAA was established in 1992 by Antonio Peña, who parted ways with Mexico’s largest and the world’s oldest wrestling promotion, CMLL. Peña aimed to feature faster-paced, younger, non-heavyweight wrestlers, contrasting with CMLL's focus on heavyweight main events. Juan Herrera, CMLL's head booker, prevailed in this creative conflict, prompting Peña to create his own promotion.

 Peña attracted numerous young talents from CMLL, whom he believed deserved more prominence, contrary to CMLL's traditional preference for established heavyweights as main attractions. This divergence in vision was something Paco Alonso, CMLL’s then-owner, never forgave.

Triple AAA is largely credited with introducing the high-flying Lucha Libre style to American audiences, a style now prevalent in global promotions such as WWE and AEW. Notable figures who have emerged from Triple AAA include Eddie Guerrero, Rey Mysterio Jr., Psicosis, Juventud Guerrera, Konnan, Vampiro, and La Parka.

Triple AAA has consistently collaborated with other promotions, particularly in the United States. In 1994, it partnered with World Championship Wrestling to host "When Worlds Collide," which showcased future WCW cruiserweights to American audiences. The promotion also collaborated with the then WWF, now WWE, allowing its talent to participate in the 1997 Royal Rumble.

In the 1990s, Triple AAA ascended to become Mexico’s premier wrestling promotion, surpassing CMLL and contributing to the 1995 bankruptcy of the Universal Wrestling Association (UWA), a 1975 CMLL offshoot.

The booking approach of Triple AAA differs significantly from CMLL. Triple AAA is often described as an Americanized version of Lucha Libre, characterized by chaotic, crash TV akin to WWE’s Attitude Era, which concluded in 2001/02. Conversely, CMLL has maintained consistency in its booking, featuring the same prominent names. While its storylines can evolve slowly, CMLL has recently been regarded as better-booked, often considered the best wrestling product outside WWE, surpassing New Japan and AEW.

Why has WWE acquired a Mexican promotion?

WWE’s parent company, TKO Group Holdings, which also owns the UFC and various smaller sports promotions, is continuously seeking growth opportunities. They view Triple AAA as a gateway to the Latin American market. Additionally, Mexican talent is highly sought after due to the Lucha Libre style's influence on the 1990s pro-wrestling scene. Triple AAA could serve as a developmental promotion, similar to WWE's NXT brand, or as an alternative venue for talent not currently featured in main WWE storylines, akin to their strategy with the American promotion TNA.

Could this strategy succeed?

If TKO secures investment from a wealthy state, WWE could dominate the major pro-wrestling markets in the United States and Mexico. While Triple AAA may not currently be Mexico's leading promotion, WWE’s financial backing could soon restore its preeminence.

What are WWE & TKO’s potential future moves?

Considering the TKO portfolio, a potential acquisition of Dwayne “The Rock” Johnson's 50% stake in the United Football League could be plausible. Alternatively, WWE might invest in another professional wrestling market, such as Japan. WWE already collaborates with promotions like Pro Wrestling Noah and Marrigold. However, Noah is securely owned by CyberFight, and Marrigold is a relatively new entity founded by the former booker of Japan’s premier women’s wrestling promotion, Stardom.