Wait wasn’t uswf Bill Watts?
No, you're thinking of the UWF. Towards the end of Bill Watts' Mid-South wrestling promotion, he changed the name to the UWF. Strangely, he did not copyright that name, so a couple of years later Herb Abrams (who was featured in a very informative episode of Vice's "Dark Side of the Ring" entitled, "Cocaine and Cowboy Boots") started his own UWF promotion.
This, of course, had nothing to do with any of the Japanese UWF orgs. The original UWF ran in Japan from 1984-1985, then relaunched from 1988-1990, and there was a Lucha- UWF from 1990-1993.
The most used acronym in all of wrestling.