For the past two months on their YouTube show Being the Elite, The Young Bucks and Cody Rhodes have been teasing a huge announcement for January 1.
They made their big announcement today and it is the long-rumored All Elite Wrestling (AEW) — a brand-new wrestling promotion by the wrestlers for the fans.
Cody Rhodes and Young Bucks announce All Elite Wrestling
The All Elite Wrestling announcement came — in no surprise — on the weekly Being the Elite YouTube show.
On top of announcing the new promotion, they also announced a follow-up to All In with their next major event Double or Nothing.
The promotion is backed by the son of Jacksonville Jaguars owner Shahid Khan. In the announcement, Tony Khan was officially named the president of All Elite Wrestling.
This is huge and is a major blow to Ring of Honor.
All Elite Wrestling will include The Young Bucks, Cody Rhodes, Hangman Adam Page, Christopher Daniels, Frankie Kazarian and Scorpio Sky.
The odd man out is Marty Scrull, who is still under contract to Ring of Honor Wrestling.
Dave Meltzer revealed that there are names already signed to All Elite Wrestling — but it does not include The Young Bucks yet, although that is likely to happen in the next day or two. In some huge news, talent is being signed to multi-year contracts.
The Khan family is worth a reported $6.3 billion — which is more than the McMahon family and might put All Elite Wrestling on the same level as WCW was when Ted Turner bought the company. Turner is only worth $2.2 billion.
According to Ryan Satin, Cody Rhodes will be the executive producer of the events and possible TV show and the Young Bucks will work as the bookers.
When will All Elite Wrestling start?
According to Meltzer, there is no television deal in place yet for All Elite Wrestling, but there are offers out there. Thanks to the huge success of the All In pay-per-view, networks are interested in this promotion.
On January 8, there will be a free Double or Nothing rally at TIAA Bank Field — the football stadium of the Jacksonville Jaguars. More information about the Double or Nothing event and All Elite Wrestling will be revealed there.
Interestingly, this is just a short walk from Jacksonville Veterans Memorial Stadium, which is where SmackDown Live will be holding their show that same night.
There is also word that All Elite Wrestling is in talks with New Japan about working together, although that is up in the air.