From the game introduction:
Ever watch a wrestling show and say to yourself "I can write a better storyline than that!" Well, now is your chance to prove it. Kayfabe draws you into the wrestling industry like no other game has before. Set up your own wrestling shows, while at the same time dealing with all the personal issues and drama that takes place behind the curtain. The premise behind Kayfabe is that you and the other players have set up your own independent wrestling promotion in hopes of one day rising to the top of the wrestling industry. Smart wrestling fans know that there is far more to the world of professional wrestling than two guys getting in the ring and beating each other up. There is a lot that goes on behind the scenes and in the ring that isn't apparent to the casual wrestling fan. Kayfabe takes into the account all of the behind the scenes intrigue, negotiating and drama that no one sees, as well as the actual wrestling we all watch on television. Players take on the roles of the writing staff and wrestlers throughout a series of televised shows and a climactic Pay Per View event.