No matter how often Tony Khan flaunts the depths of his wallet, no amount of money can save AEW from its current course toward self-destruction. After a month of awkward storylines, backstage rumors, and outright suspensions, the AEW All Out pay-per-view unfolded on September 4th with minimal complications and a surprising amount of success. When it came time for the new champions to participate in the AEW media scrum following All Out, however, that success turned sour.
All Out saw a new Interim Women's Champion crowned when Toni Storm emerged victorious against Jamie Hayter, Hikaru Shida, and Britt Baker. Later, in the main event of the AEW pay-per-view, CM Punk defeated Jon Moxley and reclaimed the World Championship after losing it on the 24th of August. At the end of the action, it was also revealed that MJF, a former rival of Punk, had finally returned to the company. Fans were left with plenty of reasons to be excited about the future. Unfortunately, those reasons were quickly overshadowed by media interviews and the subsequent fallout of various athletes' comments.
Despite what Tony Khan might believe, neither the booking issues exhibited in AEW's product nor the personal grudges held by some talents can be resolved with the mere addition of money. After ending Jon Moxley's AEW title reign, CM Punk became the most striking example of this as he sat down at the All Out media scrum and began questioning the competency of AEW viewers, the media, and the EVPs of the company. When Punk was challenged about this backstage, a fight reportedly broke out that saw one member of the AEW locker room struck by a chair and another bitten by a member of the AEW team. In the time since this collision, it's been announced that the major stars who participated in the fight have been suspended. AEW suddenly finds itself without Kenny Omega or the Young Bucks. CM Punk is also rumored to be facing serious repercussions.
The AEW Formula Is Already A Failure
While these comments and confrontations reflect the lack of structure in AEW, they also highlight another issue that has been holding the company back. Tony Khan has already opened his wallet many times to encourage the growth of AEW as a brand. Nonetheless, big AEW signings like Cesaro, Bryan Danielson, and CM Punk have failed to consistently propel the company beyond their million viewer ceiling. It's easy to see that signing big independent talents and licensing new music isn't going to be enough to help AEW endure this period of turmoil.
WWE Hall of Famer and current AEW wrestler Billy Gunn recently elaborated on AEW's real issue in that the business structure feels like the "Wild West." If Tony Khan truly has resources to spare, they should be spent on adding stability to AEW's locker room. Khan insisting on being present for these media scrums without ever demonstrating influence over his talent makes it seem like he has no control in his own company. As it stands, the eruption of AEW egos like CM Punk's is dominating headlines even while the less recognized athletes are putting on incredible performances. This isn't going to change without investment in accountability.
There's no denying that AEW has had an incredible run since premiering in October 2019. Tony Khan and athletes like Kenny Omega and the Young Bucks successfully shifted the landscape of professional wrestling. As WWE evolves, however, AEW falls increasingly behind its own standards each time that it commits to the drama and rumors that orbit the product. Until Tony Khan and AEW can return the significance of AEW to the events that unfold within the ring itself, it's unlikely that the company will halt in this descent.