BIG NAMES, DREAMS DUO READY TO GO.

Byline: Gerry Gittelson Staff Writer

PALMDALE - Love and money are supposedly life's greatest motivators. For fledgling professional wrestling promoters Doug Anderson and Doug Heldt, the Palmdale-based Professional Wrestling Association is definitely more about love.

For now.

The partners have big plans, even though they're struggling to break even with a format featuring big-name - and expensive - talent in small venues.

For instance, former WWF champion Greg ``The Hammer'' Valentine faces Doink The Clown in the main event of PWA's next venture, the Valentine's Day Brawl at Antelope Valley College at 6 p.m. on Feb. 19.

``We're really not looking to turn a profit. I just love wrestling,'' said an honest Heldt, a former professional football player. ``However, on this next show, we should pretty much break even.''

Heldt and Anderson are building the PWA from the ground up, relying for the moment on sponsors and volunteers. Eventually Heldt said they'd like to construct an indoor sports arena in Lancaster that would house wrestling shows on a monthly basis. They also have plans to broadcast a weekly television show, highlighting PWA matches and hyping future events.

Last month, the PWA's event at Schooners in Lancaster sold out. Antelope Valley College is a bigger venue - Schooners held just 300 - and the promoters said they'll be happy if they sell half of the 2,000 tickets available.

There's no way the PWA can compete with the World Wrestling Federation, which is more popular than ever. In fact, when tickets went on sale last week for a future WWF card at Staples Center, the event sold out in less than an hour.

Anderson said the PWA is taking a different course. He isn't worrying about pay-per-view events, signing Hulk Hogan to a long-term contract or doing 500 arena shows per year.

``We just want to put on promotions that are ethical, and we want to build our reputation that way,'' Anderson said. ``We'll never bounce a check. This is going to be a lot different than when I was a professional wrestler. Back then, it was such a cut-throat business. Basically, I was always `cheated and mistreated.' Promoters would make agreements, then pay me only half of what they said, or I would get into town and realize my hotel wasn't provided after all, and it would end up costing me money to work.

``By being sincere, we know our reputation will filter, and our headliners will talk to people, and let them know that we do what we say we're going to do.''

By the same token, the promoters realize they can't take shortcuts when it comes to talent. They must have impressive headliners, or the venture won't work. That's why they've booked the best `independent' wrestlers available: wrestlers who have built international reputations but are no longer under contract with the either the WWF or the Ted Turner-owned WCW. On the first two cards, the PWA featured Valentine, Yokozuna, Fatu, George ``The Animal'' Steele, Doink The Clown, the Iron Sheik, the Bushwackers and Jimmy Snuka. They're negotiating with King Kong Bundy, Nikolai Volkoff and others.

``I think the PWA has a real good shot,'' said Valentine, 47, who wrestles independently now because he said he was ``burned out'' from wrestling in 21 cities per month for 15 consecutive years. ``The key is to put in effort and hire some name talent. You really need to have have some wrestlers that fans know from TV. If you're just promoting a lot of young talent, it gives new guys a chance, but there's no way it's going to be successful.''

Valentine, who lives in Seminole, Fla., said he always looks forward to returning to California because he started his career at the Olympic Auditorium in 1972, part of the old NWA.

``I was 19 years old and pretty green back then, and Los Angeles is where I had my first break,'' Valentine said. ``My father Johnny Valentine had been a wrestler in the Carolinas, and eventually I came there to fit in his shoes. That was a big step up because they made me a tag team partner with Ric Flair. . . . Eventually I went to New York and won the WWF intercontinental title in 1985.''

Valentine said wrestling independently gives him flexibility and affords him a chance spend more time with his wife and two daughters, both in college now.

``If you've got a big enough name as an independent, you can write your own ticket,'' Valentine said. ``I'm going to Australia, Arabia, Japan, Spain and Germany. In the U.S., I mainly just work on weekends. For me, it's not about working every night of the week anymore.''

Heldt and Anderson think they're providing a pretty good show for $15. At Schooners, many fans who didn't get there early enough were turned away. Inside, ``there was electricity in the air,'' Heldt said. ``Oh, it was great. When George `The Animal' Steele ate the turnbuckle, kids were running up and collecting pieces of the foam so they could take it home. Even George Steele said he had a great time. He called us up from Florida the other day and said, `When can I come back?' ''

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Photo: (1 -- 2) Drawing names like ex-WWF champion Yokozuna (above), the fledgling Palmdale-based Professional Wrestling Federation created by (below) Doug Anderson, left, and Doug Heldt is off on the right foot.

Jeff Goldwater/Staff Photographer