On June 5, 1982, Titan Sports Inc., owned by Vincent K. McMahon acquired the operations of Capitol Wrestling, owned in part by his father, longtime promoter Vincent J. McMahon. Vince Jr. moved the company headquarters to Greenwich, Connecticut.
Vince, Jr. and wife Linda took a huge risk in purchasing the assets of Capitol for more than $1 million. Designed to be paid in four installments, if any there was a default in any payment, ownership of the assets would return to the four principle owners of Capitol, Vince, Sr., Robert Marella (Gorilla Monsoon), company secretary-treasurer Phil Zacko and retired wrestler and manager Arnold Skaalad. As well, the four men would keep all of the money that had been paid at the outset of the deal.
Vince Jr. transformed the northeastern-based territory into a national (and, eventually, worldwide) promotion.
