Everything You Need to Know About AEW, a Potential Threat to WWE

AEW could be WWE's first legitimate adversary in a generation. But first, it'll take some time to grow.

Vince McMahon Wrestlemania Meadowlands 2012 Getty
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EAST RUTHERFORD, NJ - FEBRUARY 16: Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. (Photo by Michael N. Todaro/Getty Images)

Vince McMahon Wrestlemania Meadowlands 2012 Getty

AEW, the newest professional wrestling promotion starring Cody Rhodes, Chris Jericho, and more, is poised to make some noise.

It's been a little over two decades since the "Monday Night Wars," the competitive rivalry between WCW and WWE, which almost ended with a WCW victory. They paid their wrestlers more, and thus were able to poach many of WWE's best talents. For approximately two years in the mid-'90s, WCW's Monday Nitro beat WWE's Monday Night Raw in the ratings.

As distressing as this must have been for WWE at the time, it was a blessing in disguise in the long run. It forced the company into shark mode—advance or die. WWE pivoted away from the corny stories and the good guy/bad guy dichotomies, and instead embraced more realistic gimmicks, which were usually extensions or exaggerations of the actual performers' personalities.

And so, WWE won the war: WCW went bankrupt, WWE bought them out, and the company has dominated ever since, which some would argue has led to creative stagnancy—until now.

AEW could be WWE's first legitimate adversary in a generation, but it'll take some time to grow. Here’s everything you need to know about AEW, the brand new company poised to give WWE chairman Vince McMahon fits. The first pay-per-view under the AEW banner will broadcast live from Las Vegas on Saturday.

What is AEW?

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AEW stands for All Elite Wrestling. Think WWE, but with more of a sports/competitive emphasis than an entertainment emphasis. The new outfit is being bankrolled by the Pakistani-American Khan family, led by multibillionaire Shahid Khan, who also owns the NFL's Jacksonville Jaguars, among other ventures. His son, Tony Khan, will serve as AEW's president and CEO.

AEW will have four executive vice presidents, who will be wrestling competitively in addition to fulfilling backstage responsibilities. There are Matt and Nick Jackson, better known as the Young Bucks, a decorated, high-flying tag team best known for their work in Ring of Honor, TNA, and New Japan Pro Wrestling. Then there's Kenny Omega, widely known as the current best non-WWE wrestler in the world (now that A.J. Styles is a WWE Superstar).

Lastly, there's former WWE Superstar Cody Rhodes, who's going by "Cody" until the legal rights drama with WWE works itself out. The son of wrestling legend and WWE Hall of Famer Dusty Rhodes, Cody left WWE in 2016. At the time of his departure, he was performing as "Stardust," a fantastical, comic book-esque character inspired by his older brother's Attitude Era gimmick, Goldust. Despite multiple requests, WWE refused to let Cody retire this gimmick and go back to being himself.  

Cody has since been fulfilling his potential in smaller promotions; he was both Ring of Honor World Heavyweight Champion and NWA World Heavyweight Champion, the latter of which is the same championship Dusty first won in 1979.

Cody's wife, Brandi Rhodes, who was a ring announcer in WWE, is also an AEW wrestler and the company's chief brand officer. She envisions herself and others in on-screen roles that have long been missing in WWE.

"Personally, I’m a fan of valets and managers," Brandi said in an interview with Complex. "Not so surprising, because I am one for my husband, Cody. I was truly inspired by a lot of Sensational Sherri and Bobby Heenan’s work."

Are there other former WWE talents involved with AEW?

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Chris Jericho is signed with AEW; he will be fighting Kenny Omega at the upcoming Double or Nothing PPV. Pac, formally known as WWE Superstar Neville, is signed to AEW and was booked to take on "Hangman" Adam Page. It's recently been reported that he's pulling out of the event, but some observers have theorized that this is part of the show's storyline.

WWE Hall of Famer Billy Gunn, formerly of WWE's D-Generation X stable, will participate in a battle royal. Dustin Runnels, formerly known as WWE Superstar Goldust, also signed to AEW and will be taking on his brother, Cody.

One particularly interesting signing is that of legendary wrestling commentator Jim Ross, who was the voice of WWE for many years, including during their acclaimed Attitude Era. J.R. will also serve in an advisory capacity for the new promotion.

If you follow non-WWE wrestling, most of the other names on the Double or Nothing card will look familiar. But of particular note are two of the finest current luchas: Pentagón Jr. and his brother, Rey Fénix, also known as the Lucha Bros. Christopher Daniels, Frank Kazarian, and Scorpio Sky are also part of the active roster; Daniels will additionally serve as the head of Talent Relations for the fledgling company.

All In was a massive independent wrestling showcase organized and promoted by Cody and The Young Bucks in September 2018. Wrestling journalist Dave Meltzer claimed that Ring of Honor would be unable to sell 10,000 tickets to an arena-sized live event. Cody took that as a challenge; he and the Bucks began putting together an arena show at the Sears Centre in Chicago. Tickets sold out in 30 minutes.

The event, which featured 11 matches, was an unprecedented success, and was attended by over 11,000 people. More importantly, it demonstrated that non-WWE wrestling could be successful and profitable in the United States, and served as the proof of concept for an upstart wrestling promotion. The Young Bucks began conversing with Tony Khan, and from there, they brought on Cody. Things snowballed from that point.

On Jan. 1, 2019, AEW announced its inception and the promotion's first PPV event under the AEW umbrella: Double or Nothing, which will take place on Saturday, May 25.

How is AEW different than WWE?

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Right before WrestleMania 35, political humorist and analyst Jon Oliver hosted a segment concerning WWE's historical mistreatment of its employees, from steroid accusations, to problems paying for healthcare and necessities, to long term, post-career injuries among former wrestlers, including post-concussion syndrome.

Cody Rhodes claims that AEW will pay for 100 percent of all necessary medical costs and treatments. He also claims that AEW has raised the salary floor for wrestlers, so that they can pay for necessities on their own. He falls short of supporting a union for wrestlers, although Cody does seem determined to raise the quality of life for his performers.

AEW plans to emphasize television rather than live "house shows," which means that wrestlers will have more time for themselves and their families after TV tapings and live broadcasts are complete. Unlike WWE, AEW won't have scripted promos; everyone will be responsible for getting him or herself over by delivering their own words, from the heart. AEW will also prioritize the non-verbal storytelling happening in the ring over backstage drama.

"AEW is all about the bell to bell action," Brandi said. "You’re going to get more wrestling and less soapy backstage drama. Of course, we have compelling characters that people will love and identify with. But the actual athleticism and action, the diverse roster, the fresh faces mixed with the familiar—that is what you will truly appreciate."

Although the company will not have an "off season," they plan on cycling talent in and out to reduce wear and tear. It seems like a great deal; why not work with a company that's paying more for less work? But AEW is not encouraging WWE wrestlers to jump ship, either, and had this to say to contracted wrestlers who want to work for AEW:

"Honor your contract," Brandi said. "You signed it for a reason, whatever that may have been, so just see it through. You never know what may happen in time. When you reach the end of it, hopefully you’ll have enough time and experience to make the next best choice for yourself personally."

Correct. The company inked a deal through Turner to produce a weekly television show on TNT (which used to broadcast WCW back in the day). The day and time of the weekly TV show have yet to be announced.

When Triple H (who serves in real life as WWE's Executive Vice President of Talent Relations) was roasting AEW signee Billy Gunn during this year's WWE Hall of Fame ceremony, he joked, "Apparently if you put Executive Vice President in front of anyone’s name, it makes them feel important.” He later made this remark about Vince McMahon:

"Billy, let’s be honest. He will buy that pissant company just to fire you again!”

Cody did not take the comment well.

WWE is so dominant that they can weather most storms, especially from an upstart company like AEW, and emerge on the other side still intact. WWE has been running hundreds of shows for decades; AEW, for all its promise, hasn't run a single show yet. It is way too early, and silly, to discuss WWE's possible foreclosure.

WWE's main concern right now is to re-sign their talent so that they don't jump ship and embarrass the company. To do so, they've been offering their performers massive raises of $100,000 or more. But even that is no guarantee of compliance; The Revival members were offered $500,000 a year, each, to re-sign, and Scott Dawson and Dash Wilder both turned the offer down. Dean Ambrose turned down the terms of his new contract as well, and allowed his old one to expire. Whether these performers will sign with AEW, however, is still unknown.

To be fair, AEW's brass are keeping realistic expectations; they've all said, in many different ways, that they have no interest in competing with WWE. And that's a good thing, because there's no possibility of them winning that war in the near future.

But we, the consumers, vote with our wallets and our time. And even if WWE doesn't go belly-up, the company will hurt, even in small ways, from AEW's success, both in the court of public opinion and in its merchandise and ticket sales. Though it may not be a killing blow, it could hopefully shake WWE out of the creative rut they're stuck in.

Where can I watch the "Double or Nothing" show, to see how this all goes down?

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The event, which will be held at the MGM Grand in Las Vegas, sold out in four minutes. But you can still watch the show from home, on B/R Live if you live in the United States, and on Fite TV if you live outside of it. Double or Nothing starts at 8 p.m. ET on Saturday.

When asked to discuss a legendary match or storyline that encompassed what AEW wants to aspire to, Brandi demurred.


"We have a vast group of talent," Brandi said. "It would be impossible for me to pinpoint one match that can represent what AEW will be. The best I can say is watch Double or Nothing this weekend. That will be a true insight on what you can expect going forward."

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