AEW has been in business for almost five years but now a new report has suggested there could worrying financial news for the company.
All Elite Wrestling was announced to the world by The Young Bucks, Adam Page, and Cody Rhodes on New Year’s Day 2019 to great excitement. Tony Khan financed the pursuit which saw The Bucks, Rhodes, and Kenny Omega named as Executive Vice Presidents while Page, Britt Baker, PAC, SCU, Jim Ross, and Chris Jericho were among the company’s first talent signings.
Five years on the company has held the biggest paid attendance wrestling show in history when over 81,000 tickets were sold for Wembley Stadium at All In and has established itself as the number two promotion in the world, however, there have been many challenges as well.
Perhaps AEW’s darkest hour came right after its brightest when CM Punk was fired by Tony Khan for his part in a backstage altercation with Jack Perry at All In. That was far from Punk’s first transgression in the company as he became involved in a fight with The Elite at All Out in 2022.
Tony Khan Faces Worrying Financial Situation For AEW
Now Brandon Thurston of Wrestlenomics has given his take on AEW’s finances for 2023. Unlike WWE, AEW remains a privately owned company so much of the report is estimates based on what is known.
The report notes that AEW’s net revenue for 2023 will be around $154 million which is up significantly from the $100 million estimate from the previous year. AEW’s deal with Warner Brothers Discovery is believed to make up the bulk of that figure at $68 million to show Dynamite, Rampage, and Collision.
However, the situation regarding the company’s expenses means that despite the whopping amount of money brought into the company, even more is going out. $85 million is estimated to be what the company pays talent over the year and other operating expenses are believed to bring AEW’s total outlay for 2023 to $188 million. That gives AEW a loss of $34 million for the year before EBITDA.
Things may not be as bleak as the numbers might seem, however, as it is noted an increased rights deal from WBD could make AEW profitable from 2025.