It was formed by Yoshiaki Fujiwara, Masakatsu Funaki and Minoru Suzuki after the collapse of the second incarnation of the UWF.
The company had the financial backing of eyeglass brand Meganesuper Co., Ltd executive Hachiro Tanaka who was also funding Super World Sports (SWS).
[2] One of its most successful shows took place at the Tokyo Dome on October 4, 1992, headlined by Funaki versus Maurice Smith, which was attended by a record 40,000 fans.
[3] Legendary wrestler Karl Gotch acted as the face of the company, much like Lou Thesz did for fellow promotion UWF International.
In December 1992, Suzuki, Funaki, and Fuke left the promotion over Fujiwara's decision to send PWFG wrestlers to appear for SWS, Universal Lucha Libre and W*ING.