After the sale of WCW to the then rival WWF, Hart and a close consortium of wrestlers and investors decided to create a wrestling organization—the Xcitement Wrestling Federation (XWF)—that would replace WCW as well as take wrestling back to early 1990s style of fun, family-oriented entertainment with minimal story lines and more solid wrestling. In 2002, Hart restarted his feud with Jerry Lawler by buying, for the XWF, part of the upstart Memphis Wrestling promotion. Hart would wrestle for Memphis Wrestling from 2003 to 2005. He lost to Jimmy Valiant in a Loser Eats Dog Food match on August 2, 2003.