You Only Live Twice was a professional wrestling internet pay-per-view (iPPV) event produced by the Chikara promotion, that took place on May 25, 2014, at the Palmer Center in Easton, Pennsylvania. The event marked Chikara's fifth iPPV and first event since Aniversario: Never Compromise in June 2013.

You Only Live Twice featured eight professional wrestling matches involving different wrestlers from pre-existing scripted feuds, plots, and storylines that will be played out on Chikara's monthly house shows and on blog entries written on the promotion's official website. Wrestlers will portray villains (rudos in Chikara) or heroes (tecnicos in Chikara) as they follow a series of events that build tension, and culminate in a wrestling match or series of matches. Chikara follows lucha libre traditions and is known for its colorful characters and gimmicks and family-friendly content.

Following June 2, 2013, and the Aniversario: Never Compromise internet pay-per-view (iPPV), Chikara went inactive for a full year, following a storyline development, where the Titor Conglomerate, the storyline owners of the promotion, shut it down in order to cover their tracks regarding their dark past involving a paramilitary group named Condor Security. The Titor Conglomerate then supposedly put the Chikara brand, its related intellectual properties and remaining physical assets on sale, reducing the promotion to ashes. During the rest of the year, a group of Chikara wrestlers, led by Icarus, began holding fan gatherings and "guerrilla events", trying to revive the promotion. This led to the Flood, a group of rudos from Chikara's past, coming together and starting to shut down Chikara's several smaller sister promotions in order to destroy its final remnants. The storyline culminated on February 1, 2014, during the National Pro Wrestling Day, when the two groups collided. After the Chikara wrestlers had prevailed, Icarus announced that Chikara was coming back on May 25, ending the promotion's one-year-long hiatus. In storyline, the return was made possible by former Chikara wrestler Robbie Ellis winning an auction and becoming the promotion's new owner. The name of the return event was later revealed as "You Only Live Twice", making it one of several Chikara shows to be held in 2014 named after James Bond films. Tickets for the event were sold out within days with no roster or matches announced. On April 1, Chikara announced that You Only Live Twice would be broadcast live on iPPV through Smart Mark Video. As part of Chikara's return weekend, the promotion presented "LuchaBowl", a fundraiser for a local chapter of the Make-A-Wish Foundation, on May 24 and "Expansion Pack", an interactive fan fest, before the iPPV on May 25. Also on May 24, Chikara's sister promotion Wrestling is Fun! (WiF!) presented the finals of the 2014 Tag World Grand Prix, a tournament held by Chikara from 2003 to 2013.

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