In confessional, Richard Fisk recounts his rise as the masked Rose to a priest. The legacy of Ned Leeds, and his stint as Hobgoblin, continues to haunt Spider-Man.
Richard Fisk's best friend Alfredo is in his flat with Fisk's girlfriend, Dina. Fisk believes Alfredo is dead and has gone missing. Fisk is at a church, confessing. (Cue flashback…)
He used to have a place in the Hamptons and one summer, Ned Leeds comes calling. He was doing a story on Richard's dad – the Kingpin but Richard warns him off. Ned follows Richard incessantly. Meanwhile back in NY, the Kingpin's wife convinces him to give up crime but she is abducted by Kingpin's lackeys who aren't happy about this. Daredevil rescues her but uses her as a tool to get the Kingpin to drop his support of a crooked politician.
Ned is still pushing Richard to talk, meanwhile and Fisk eventually gives in – agreeing that he wants to take down his father. Ned reveals himself as the Hobgoblin to Fisk and Alfredo. Fisk buys off some cops to spy on his father and Ned gets himself a reputation committing crimes as the Goblin.
Between them, they come up with the Rose identity for Richard. Things were going well in their empire but Ned gradually becomes obsessed with Spider-Man and defeating him. He frames Flash Thompson after finding out his affair with Betty and begins to go mad.
Rose begun to distance himself from the Hobgoblin. He used Alfredo's skills to spy on his father, who was in a constant battle with Daredevil himself. When he lost the battle, he moved to Europe – sparking the Gang Wars. Rose then moves in to try and take control. This is when he killed a policeman – the first and only time he actually murdered himself. He says that bullet killed him too because a part of him died then also.
Back in the present and Richard has run from the confessional. The next scene is at the top of a skyscraper with his Dad – the Kingpin. He agrees to work for him.