Beloved professional wrestling promotion Ring of Honor (ROH) has announced that following the Final Battle pay-per-view in December, it will be going on hiatus for at least the first quarter of 2022."Throughout the pandemic, our top priority was to keep everyone healthy and safe, and despite not producing any live events over 18 months, we were able to keep everyone fully contracted," ROH said in a statement shared to its official Twitter account. "We now find ourselves at a time where we need to make changes to our business operations and are planning a pivot for Ring of Honor, with a new mission and strategy.RELATED: Ring of Honor's Danhausen Tackles What's Next for the Wrestling Star

"The year will culminate with a Final Battle in December, and we will be taking the first quarter of 2022 to work internally to reimagine ROH," the statement continues. "ROH has the most dedicated fans in the industry, and we appreciate their loyalty and patience as we reconceptualize ROH. We anticipate returning to live events in April for the Super Card of Honor with a new fan-focused product and provide a unique experience for wrestling fans."

According to both Sean Ross Sapp of Fightful.com and Dave Meltzer of the Wrestling Observer Newsletter, all ROH wrestlers will be released from their contracts as of the end of 2021. "Based on who I've spoken with, ROH releases are effective at the end of the year. If a contract goes beyond that, they're paid until March 31," said Sapp, who added, "ROH talent was told to contact [Sinclair Broadcast Group General Manager] Greg Gilleland if they want to work elsewhere, and if they're under a deal they'll work on making that happen."

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Bryan Alvarez of the Observer provided additional details on the matter, tweeting, "ROH will do tapings in November and then run Final Battle on PPV. Nobody's contract will be renewed, but everyone under contract will finish out the year. They are, however, able to work anywhere they want immediately. We are told rumors Sinclair canceled the show are not true."

ROH was originally founded by Rob Feinstein in 2002, with Cary Silkin serving as owner from 2004 until 2011. Long considered the premier promotion in the American independent wrestling scene, ROH has been home to more than its fair share of industry superstars over the years, including CM Punk, Samoa Joe, Bryan Danielson (aka Daniel Bryan), AJ Styles, Tyler Black (aka Seth Rollins) and Kevin Steen (aka Kevin Owens), among many others. Mind you, ROH is a subsidiary -- rather than an indie promotion -- these days, having been acquired by the aforementioned Sinclair Broadcast Group in 2011.

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ROH took a five-month hiatus in 2020 amid the coronavirus (COVID-19) pandemic, with the promotion ultimately returning to hold events in empty arenas. The first ROH show to feature a live crowd in 18 months was the Best in the World PPV, which aired this past July. 2021 went on to become a breakout year for ROH's women's division, with Rok-C being crowned the inaugural ROH Women's World Champion at the Death Before Dishonor PPV in September, having emerged victorious in a six-week tournament featuring 14 other wrestlers.

Ring of Honor Final Battle 2021 is scheduled to air on pay-per-view on Dec. 11.

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Source: Twitter