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Photo Courtesy of AEW

Last year, Vince McMahon of World Wrestling Entertainment announced he was spending an exorbitant amount to revive the XFL, his nostalgia-riddled failed football league from the early 2000s.  Well, it looks like Tony Khan, the billionaire co-owner of the Jacksonville Jaguars, will be doing the opposite this year.

Khan, who also owns the Premier League’s Fulham F.C. and is believed to be worth somewhere in the neighborhood of $6.3 million, announced earlier this week he will be the president of All Elite Wrestling (AEW), a potential rival to McMahon’s WWE over time.  With what we presume will be a nice financial backing from Khan, the AEW will be the first threatening competition for the WWE since 2001, when the company purchased the assets to World Championship Wrestling.  But, a wrestling company is really only as good as the talent on the mat – don’t worry, the AEW has been busy making phone calls.

While Khan might be spearheading the project, he will also be joined by former WWE superstar Cody Rhodes, the son of the legendary Dusty Rhodes.  He will likely serve as a headlining wrestler.  Rhodes knows the scene pretty well, producing an independent event – with the help of Matt and Nick Jackson of The Young Bucks – called All In last September, the first non-WWE wrestling event to sell over 10,000 tickets in close to two decades.  The only problem right now for the AEW is that it doesn’t have a television contract, though we have a feeling that might change in the not too distant future, thanks to rumors that several parties have put in offers.  It will also compete for talent with Ring of Honor, though WWE Hall of Famers Chris Jericho and Jim Ross could be involved.

There are still a lot of variables that are unknown at this time, however a new professional company could be good for wrestling, as competition can really only breed success from a fan’s perspective.  A little push-back on the WWE could go a long way to enhancing the product, though AEW will need to fill major arenas to do so.