Report: WWE is shutting down developmental territory Florida Championship Wrestling

This is why we can't have nice things.

Despite my recent gushing over Florida Championship Wrestling's (FCW) product, F4WOnline.com broke the news late last night that the developmental territory is shutting down effective immediately.

The writing had been on the wall as my Cageside colleague Keith Harris wrote on Sunday. He predicted a major shake up spearheaded by the firing of longtime developmental executive Ty Bailey. It just wasn't known how abrupt the actions take would be.

Two words come to mind: swift and final.

The word coming out of Tampa is WWE alerted Bright House Network there would be no further FCW productions beyond what has already been taped which takes the promotion to the middle of April. As it stands, Seth Rollins will be the final Florida Heavyweight Champion, Richie Steamboat will be the last Jack Brisco 15 titleholder and Raquel Diaz will go down in the record books as the final Queen of FCW and Divas Champion. The team of Jake Carter and Corey Graves won the tag straps on the episode set to air on April 1, the day WrestleMania 28 goes down in Miami.

So where will all the aforementioned champions and other stars like Dean Ambrose, Antonio Cesaro and newcomer Kassius Ohno go?

Everyone affiliated with FCW will shack up in Stamford, WWE's homebase until a decision is made. The feeling is a new developmental promotion will spring up in WWE's backyard with a possible second promotion being created in the near future. Once thing is for certain, Ohio Valley Wrestling (OVW), the only developmental promotion with a good track record of producing Superstars, won't be in the running for FCW's now vacant job. OVW is now creating stars of TNA, WWE's main competition.

Of course, they might cull the FCW roster and put what remains on NXT and Superstars. One advantage to working those shows is big arena experience, something not available inside the relatively small FCW Arena.

If you're a fan of FCW like I am, soak it in while you can, Cagesiders. It will be a distant memory in a month.