“ACW would like to extend their deepest wishes to Preston Baxter, who today underwent arthroscopic ACL reconstructive surgery on his right knee. Initial medical reports link the ACL tear to Legends III and the closing moments of Baxter’s match against Iceman. Further reports have Baxter scheduled for arthroplasty (a total joint replacement in his right knee, due to his battle with avascular necrosis over the past ten years), although this cannot be confirmed at this time.
It is unclear when Baxter would return to action, although at 65-years of age, the Baxter family has contacted ACW share-holders, stating these produces would more than likely be career-ending.”
Taken from All-Star Championship Wrestling