Since CM Punk’s departure from AEW following last year’s ALL IN event in London, the company has faced significant challenges in maintaining its momentum in the pro wrestling industry. While AEW remains a powerhouse, the absence of a true number one star has left a noticeable void, one that even the influx of top-tier talent like Adam Copeland (formerly Edge in WWE), Mercedes Moné (formerly Sasha Banks), Will Ospreay, and Ricochet has struggled to fill.
The issue isn’t a lack of talent—AEW boasts one of the most impressive rosters in the wrestling world. However, since the exits of both Cody Rhodes and CM Punk, the company has been plagued by lackluster storytelling and inconsistent continuity in its storylines. This has been compounded by underutilization of their extensive video library, which could be a valuable tool in enhancing narratives and building deeper connections with the audience.
The effects of these issues are evident. AEW’s once stellar reputation has taken a hit, leading to declining attendance at live events and a dip in TV ratings. The company’s leader, Tony Khan, is undoubtedly passionate and dedicated, but there is growing concern that his desire to oversee every aspect of AEW may be spreading him too thin. The time has come for Khan to place more trust in his team and to consider bringing in experienced voices to help steer the ship.
Enter Shane McMahon—a name synonymous with wrestling royalty and business acumen. McMahon’s potential addition to AEW could be the catalyst the company needs to turn things around. His experience in both on-screen roles and behind-the-scenes business operations could provide the guidance AEW sorely needs. McMahon’s presence would not only add star power but could also help to solidify AEW’s business model, aligning it more closely with sustainable growth and profitability.
Fans are becoming increasingly cynical, especially as they’ve watched stars like Ethan Page and Sean Spears jump ship to WWE, while others have opted for TNA. The tribalism between WWE and AEW fans is intensifying, and without clear direction, AEW risks losing the loyal following it has built since its inception.
With ALL OUT just one week away, AEW has a critical opportunity to capitalize on the momentum generated by recent standout performances from talents like Swerve Strickland, Hangman Adam Page, Bryan Danielson, Jack Perry, The Young Bucks, and The Acclaimed. The company undoubtedly has the financial resources and the talent to succeed, but it needs a more focused direction to regain the trust of its fanbase.
CM Punk once remarked that AEW’s business model was unclear—was it about delivering five-star matches or making money? It’s a question that still lingers. The collaboration between Shane McMahon and Tony Khan could be the game-changer AEW needs, but the outcome remains uncertain. Will it lead to a resurgence in AEW’s fortunes, or will it further complicate an already delicate situation? Only time will tell, but one thing is clear: AEW stands at a crossroads, and the decisions made in the coming weeks could define its future.