In early 1986, the professional wrestling promotion Jim Crockett Promotions announced that they were hosting a 2-show, 24-team tag team tournament with teams from various National Wrestling Alliance territories.

The Jim Crockett Sr. Memorial Cup Tag Team Tournament (commonly known simply as the "Crockett Cup"), named in honor of JCP owner Jim Crockett Jr.'s father, "Big Jim" Crockett Sr. and The Crockett Foundation, a non-profit organization founded by Crockett Sr. in 1933.

The first Crockett Cup was held in New Orleans, Louisiana in collaboration with Bill Watts' Universal Wrestling Federation who normally promoted shows in New Orleans. The 24 team event was split over two shows, held at the Superdome, split between one show in the afternoon and another in the evening.