#1 Jerry Lawler

When it comes to kings of wrestling, it is difficult to argue that anyone is more synonymous with that identity than Jerry Lawler. Lawler won his crown in Memphis, before going on to reign with his royal identity for decades. You can add onto that a reign as AWA World Champion, and select appearances for other promotions and territories before he made his way to WWE in the early 1990s.
Lawler was far enough into his career, and established as not only a wrestler, but a promoter by the 1990s that WWE seemed to recognize more value in him as a color commentator than as an in-ring performer by that point. He did work several upper card programs, often opposite legends or guys on their way into or out of the world title picture. However, Lawler wound up finding himself most at home hosting his Kings' Court interview segments, as well as sitting beside Vince McMahon, Michael Cole, or, most famously, Jim Ross as a key voice of Monday Night Raw and other WWE television offerings.
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Lawler would have a second life in the sports entertainment business in this role, with a newer and larger audience of fans coming to know him as the king of wrestling based on his mic work. While Lawler may not have accomplished as much in WWE as other kings, he is nonetheless inextricably linked to that identity forged well before he ever stepped into the WWE Universe.
The crown always accompanies Lawler either in the ring or in the commentary table.