Jim Cornette on AEW's Financial Estimate For 2023 

Tony’s not here to make money, he’s here to make friends.

Firing CM Punk and keeping the Elite is the equivalent of WWE firing John Cena and keeping the Spirit Squad.

I wouldn’t take so much joy in AEW’s failings if they weren’t so full of themselves. Between Tony’s Twitter, the wrestlers not taking advice, it’s culture chocked with loud and unearned arrogance. They need to be humbled if they’re ever going to improve.

All In at Wembley to Tony Khan is what 4 touchdowns at Polk High is to Al Bundy.

WBD: "Tony, how much money did we make." Tony Khan: "You can ask, but I don't want to talk about it."

In Anthony Bourdain's book Kitchen Confidential, he describes the worst kind of restaurant owner. I'll paraphrase. You take some guy who made a bunch of money in another business, like a dentist, for example. And he likes to cook and throws excellent dinner parties. And he has this dream of starting a restaurant. So he rents a space and buys a whole kitchen's worth of fancy equipment, and then he hires a chef, and then that chef staffs the kitchen with all of his friends who couldn't get hired anywhere else. And he starts comping meals for all the big restaurant reviewers and any kind of public figure he can get to come to the place to generate some buzz. Making money was never the #1 goal, or even the #2 goal. He wants to be be in the paper. He wants to have a little squad of cute waitresses to work his way through. He wants to be well liked by his employees. All of that matters more than the bottom line. Well, here we are.

When punk says he worked with a bunch of children i think he meant Tony himself

Somebody please ask Jim & Brian to do some Corny Awards for 2023.

"I'm here to make friends, not money." - Tony Khan

When Punk said I'm here to make money, not friends. I do believe this is exactly what he was referring to

And then last night Tony had another Twitter breakdown while hashtagging the TV channels he's trying to negotiate a new deal on. Brilliant bit of business.

"how did they expect to make anything?" Tony be like, "wait, we were meant to MAKE money? I thought we were meant to just spend it, we have so much"

Tony’s excuse for AEWs poor financials, “AEW is under attack” 🤦 😂

Tony ignored the warning signs and then increased ticket prices to make up for declining attendance numbers.....and now those extremely loyal fans have begun to walk away. And the merch is mud show junk -- which can't be helping the cash flow.

AEW's main source of revenue is Tony's allowance.

I’ll say it again the fact that Endeavor did a streaming deal with TNA instead of Aew should tell you how they view Aew as a whole

It turns out having Kenny Omega have control over a video game project was a bad idea. Who knew putting someone in a field they have no professional experience in wasn't going to pan out? Another Tony Khan decision that is costing AEW money at the expense of his "friends."

Biggest mistake AEW made was firing Cm Punk. They do not have any million dollar gate draw now. Not even close. They are so stupid. They chose to keep Jungle Boy.

"I have a lot of fucking money." - Tony Khan, 2022

It's crazy how AEW had so much buzz around them, had a promising video game on the horizon, some big stars. Now it's the drizzling shits, made actual names in the industry complete jokes, ran Punk off and unfortunately seems to b on the way of WCW. I love wrestling, I don't want AEW to fail, but Tony seems desperately determined to fail.

Antonio Khanoki: yeah AEW has consistently lost money every year but look at all the 5 stars Uncle Dave has given to our matches!

34 million down the drain and he couldn't pay for some public speaking course

AEW is going down the path that WCW went during the year 2000 all the way to their demise in March of 2001.

Meanwhile Tony is doing Twitter beefs with Disco Inferno. It's Great Guys the numbers are GREAT. TONIGHT RIGHT NOW TONIGHT!!😂😂😂😂😂😂😂

Shame WWE is no longer making DVDs and Blu-Rays. I think the Rise and Fall of AEW would look good on my shelf next to the Rise and Fall of WCW and ECW DVDs.

I’m only 10 minutes in and it sounds like Tony Khan is royally screwed if he doesn’t get that TV deal.

The only difference between Bischoff and Tony is: Bischoff was spending Time Warner and Ted Turner's money and Tony's spending his Dad's/families' money.

Tony's list of healthy wrestlers grows shorter by the day. Kenny "Don't Tell Me How to Wrestle" Omega was just about shot already, and who knows when or if he'll be back.

According to Tony Khan, Everything is great, really great. So great. Attendance is great (it's not), Ratings are Great, (they are not), and Buy rates are great (They are not). But Wembley! The locker room is happy, everyone is getting along, and clearly, WBD will give AEW a new deal. Meanwhile in Reality. AEW is in a lot of trouble. If Daddy Khan wasn't flipping the bill for everything. then Tony would really have problems.

"Daddy can i have some more pocket money? Dada, please!"- Tony "Bubble Boy" Khan.

Yep corny is exactly right. If they land a big tv deal , you don't think Jericho and moxley are going to be the first ones knocking on Tony's door for a raise. And the profits will be EXACTLY where they are now

Vince losing 6 mil in roughly '94 would be like losing 12 mill today. Tony losing 34 mill this year would have been like Vince losing 16 mil in 1994. Can you imagine what Vince would do if he had lost 16 mill instead of 6?

34 million from PPV means 760,000 buys for the entire year at 50 dollars a pop. Mania 28 did like 1.25 million buys on its own, while each Saudi show brings in $50m. Damn, WWE really is on a different level

If I lost $30+ million, I'd be freaking the F out. Meanwhile, Tony keeps getting cash from the First National Bank of Shahid Khan.

Dark Side Of The Ring: The Rise And Fall Of AEW is starting to feel realistic. I wouldn't be surprised if the reboot of TNA start competing with AEW when it comes to ratings alot sooner than later. Plus Cody Rhodes being a pipeline for AEW stars to get to WWE doesn't make things better. That was the start of things to come. But nah, Tony put all his trust in his 3 toys. Kenny Omega (hurt) and The Young Bucks (Children).

An estimated 400k on talent. Jesus christ. I assume that is counting all the people who no one could identify on dark and ROH. They called Bischoff ATM Eric back in the day and it was nowhere to this level. Should we call him Tony the Teller cause everyone pulls up and withdraws on a regular basis? Really fascinating segment here.

A video game can easily make hundreds of millions and billions if its actually REALLY GOOD and has enough content for said audience. The issue is Kenny and all his friends are marks for "WWF No Mercy" a game from 2-3 decades ago and tried to emulate that... WHICH NOBODY ASKED FOR!

We need Jim and Brian to react to ROH Final Battle 2023 media scrum asap.

The AEW fan base is just as delusional as Tony. I commented on a WhatCulture Wrestling video talking about AEW was dying and was on borrowed time. That as long as Tony is in control then it will continue to fail. And they were bringing up the gate for All In and Wembley. Talking about how no company is profitable for upwards of 10 years after being founded. They called me an WWE fanboy. Like I don’t watch them either. I’m a realist and see the writing on the wall. They cannot see the trees because the forest is in the way.

His father makes billions in profits every year, so Tony losing money is a tax write off... It's literally real life action figures to him🤦🏻‍♂️

I so look forward to the entire season of Dark Side of the Ring they’ll be able to make after AEW collapses. Not saying I want AEW to collapse, but those episodes will be very entertaining

Sounds like this company would potentially be profitable if he released all the wrestlers that are sitting at home doing nothing and booked venues that they can actually fill with an audience.

Just imagine how much money they lose because Tony don't listen to Regal, Arn, Tully, but listen to Omega and Bucks

This sounds like a concert promoter booking an arena for a pub band. 10,000 seats for an event that would draw 1,000.

AEW is like every other startup, burn a lot of money up front in hope of striking a large deal. The problem is Tony screwed himself by prioritizing the Elite over properly booked wrestling.

Tony entrusting the care of a multimillion wrestling franchise to the Young Bucks and Omega tells you how much he knows about wrestling, which isn't much. But hey, he knows a ton about Japanese wrestling tournaments and some indie rasslin plus he has contacts with network people so..

Just for reference 2K22 made $87,368,116.22in gross revenue since its release. Out of this, the developer had an estimated net revenue of $25,773,594.28. Call of Duty: Modern Warfare II became the fastest-selling Call of Duty game of all time. The game earned US$800 million in revenue in its first three days of release, and US$1 billion within 10 days. Rdr2 23 million copies sold in 2018, generating US$1.38 billion in revenue. Wrestling doesn't seem to make a ton. I will look, but but I saw wwe 2k22 my have a net of amost 5 million.

Omega is out with injuries & an illness. The Bucks are off TV while they reconfigure their gimmick. Hangman is a midcarder. Jericho is long past due to retire. Moxley has lost the plot. MJF is flailing.

Jim jokes about giving Pockets a raise but he is the 1guy Tony has put on every damn show. So based on that Pockets actually deserves a raise.😂😂😂😂😂

AEW feels like it could be a successful and sustainable ECW but is trying too hard to be WCW

Can we get an audio clip of Dave Meltzer defending AEW's financial losses to Brian Alvarez please?! 🤣

AEW FINANCIALLY: Daddy keeps signing checks... Next issue please

This reminds me... things have gone awful quiet on the *_Kast Media / Colin Thompson_* front...

188?!!!!! On the roster?!!! That's crazy!!

Now Kenny is out for god knows how long with diverticulitis. You know the disease that almost killed Brock Lesner.

When AEW came to Saskatoon, Saskatchewan in July I intended to go. When I went to purchase tickets, the prices ranged from $110 to $1200 per ticket. When I saw those prices I said “Fuck that” and didn’t end up going. If the prices were cheaper, Tony would get more people attending which looks and sounds better for TV. Tony would also make more money due to increased ticket and merchandise sales.

Fight Forever is a game I have had fun playing, but it lacks in everything. Barebones match types, half the roster isn't there and they're asking too much money for the season passes that don't include enough content or include content that should have been free.

A trend I've noticed, as far as action figures, they dump huge amounts into the stores after the wrestler leaves. Specifically, delux editions of Punk and Cody. Before they left, you could only find them on secondary markets. After WWE signing, boom. Dozens of figures in the stores. Guess you gotta make money when you can.

The weird thing, that's just how it is, Tony Khan and his net worth is around $5billion+ At this point, if he actually has a huge business in the side, if his accountants are smart, he can always put AEW losses as a tax writeoff like those Hollywood movies not releasing movies and stuff

What gets me is how stupid people are when it comes to economics. People think AEW is doing fine because they are bringing in more money than in the past. What they are too stupid to understand is that they are spending a lot more money so they aren’t making more profits. If they have a bigger roster with bigger contracts, have more shows and a video game then yes they are going to be bringing in more money. They might make $100 million dollars off their video game but guess what? If they spent $100 million then they didn’t make a profit. They are doing more PPVs and shows but they also have to spend more money to have those shows and pay the talent more. They might make more money off merch but that’s because they are making a lot more merch.

Hogan made more doing the finger poke of doom than aew is doing now, can't wait for tony to show up on raw as the GM for 3 years

The way Brian says "WOOIIINNNNGSS!!!" is so damn funny and spot on! 🤣

Been waiting for this one

I just did a quick search and the number 1 game of the year cost $150M to make and made $1B.

People say "competition is good" to validate AEW's existence, but what's the end result of a competition? There's a winner and a loser. Businesses who compete against each other are trying to win. They're not trying to make sure that the other guy sticks around. No one lets another business catch up to them because it's "good for the consumer." These fans are getting exactly what they asked for. WWE is competing against AEW. Nick Khan smells blood.

It's not about the millions Tony has wasted, but the friends he's made along the way.

I can’t wait for AEW to get cancelled. 2024 is there last year on tv

This is a clusterfuck of epic proportions. Your highest merch seller is now the biggest star on WWE. Hilarious.

I'd be more curious to know if there are any Tax benefits for AEW running at a loss. Because some of these decisions lately are so ridiculous it almost seems to be on purpose.

How could you lose money? Rent 10000 seats arena, when you sell 5000 tickets. Pay wrestlers and not use them.

$450,000+ average for talent is bonkers

The estimated average yearly pay is absolutely ridiculous if that amount is somehow true. They're just milking Tony. They're making a fool of him.

Did he say 85 million just to pay the roster?

Well another way they've lost $34 million is the renting of huge arenas; that for example have a 22,000 seat capacity but only 4,000 tickets selling thus leaving 18,000 empty seats 😂

As a video game expert, the game has completely bombed, and has safely lost 10-15 million minimum

400,000 average for compensation HOLY SHIT, im switching careers now

In comparison, EA SPORTS made 1.4 billion dollars from Madden 24 football video game sales this year. EA SPORTS spent double the amount Tony did and made 10× more in profit. That's what happens when you let actual professionals make the video games and not wrestlers.

$85 million on a talent roster of 188 WTF? Vince spent $9 million on talent roster in 96-97 and that's having Bret HBK Taker and Austin

AEW's massive financial backing is getting them short term wins. But many wrong business decisions hurting them longterm.

Video games are similar to movies where the general rule of thumb is the movie or game needs to make roughly double its production cost to be considered profitable. That is because the production cost usually doesn't account for marketing costs, distribution costs, and other costs that might be tacked on as well. So in the example of the AEW game if it did cost $50 million to make then it needed to make roughly $100 million in sales to be profitable... which apparently it didn't.

"Pockets". It makes me laugh every. single. time. LOL.....

I've been hoping for a video like this 🙏Praise Allan.

Punk: I’m not here to make friends I’m here to make money. Tony: I’m not here to make money I’m here to make friends.

I remember Jim Ross was on Austin’s podcast and Austin asked if he’d ever be a promoter and Ross said,and I quote “If I ever decide to go into the wrestling business as a promoter,get your one your shot guns and blow my f*cking brains out!”

These illustrations are awesome 😂😂😂

Just imagine how much he lost during the pandemic. He hired almost every out of work indy wrestler while not selling tickets.

I'll always say (or type in this case) that when WWE released that first batch of talent a few years ago and AEW signed up whomever they could was the start of their financial mess ... and they KEEP doing it: WWE releases a mid-card talent, the talent's fanbase explode with OMG TONY SIGN HIM/HER! HE/SHE IS CHAMPION MATERIAL!, and AEW signs the talent to go with the previously-released WWE talent they already signed, let alone their 'home-grown' roster. Not to mention AEW buying up ROH and partnering up with other companies and need to give screen-time in-ring, promos, stories and vignettes to whomever they want to push? No wonder that AEW wants to go a 'work-rate' style because that could take away a lot of head-aches of anything that doesn't happen in-ring.

TK might as well give Rudy Giuliani $150 million since he's literally giving money away... 🤣

The cheapest ticket here in Dallas this past weekend was $80 on Seat Geek & TM. I paid $35 for lower level seats in the past & $90 for All Out. I passed on going this time.

They are losing wayyyy more then 34 million this year

Thanks guys.

"Yukes is the sound you make before your game bombs." ☠️☠️☠️☠️☠️

Did they include Tony's Coke habit in the loss of profit as well?

Does this estimate take into Tony's Adderall/Cocaine addic... I mean "prescription"?

Now I wonder who's cooking the books with the Jaguars.

It's funny how people want Tony and AEW to continue signing a bunch of mid card wrestlers just to stick it to WWE when they're already spending an estimated 85 million on the current roster. The sad part is you know the estimate is below the actual value because they have wrestlers who wouldn't accept 450k a year and would want over a million dollars.

Are we all that shocked that a son of a billionaire doesn’t know the value of a dollar? Tony doesn’t know what a quarter is.

Never underestimate the incompetence of television executives. Fox overpays WWE for the "SmackDown" rights so much, they apparently never made a cent in profit off it and are not going to for the rest of the deal's length. Despite it being the most-watched programme of its kind in the US. Anyway, once again with feeling: AEW is a hobby, not a business. Hey Jim, don't mock the $85 million for the roster, you heartless bastard! You can't put a price tag on _friendship._ Friendship is magic, dontchaknow?

Thanks guys

What happened to the opening music to the shows on the podcast? They made my day!