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I wouldn't try and compete. That would just be a good way to spend money chasing a goal which ultimately other than prestige and bragging rights wouldn't actually do anything.
I'd try and keep a solid financial base, worrying much more about profit and turnover than ratings.
Starting point before even spending any money would be TV networks. I'd focus on pitching an idea before actually spending money on sets and contracts, although will need to sign a few 'bigger' names up to 'in-principle' style contracts. Possibly look at the UK market as there is potential to get ITV involved which would be a big score. Pitch would be at a 14+ product aimed towards an older audience than the WWE to find a slight niche in market.
Money would be invested significantly in production values to make for a high quality product as I think this is one of the biggest differences between WWE and other organisations. Ticket prices would be kept low to maximise attendance and atmosphere, with the aim of recouping money on merchandise. Aim would be to be live on UK TV. Bi-monthly 'PPV' type events would be free to air, but with a higher ticket price.
Would include an 'off season' to lower wrestler injury rates and allow them to raise their own profiles overseas (on a limited basis).
Would not be adverse to an arrangement which sees international distribution on WWE Network (not the UK though), though this would be subject to any other TV deals.
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