A former WWE veteran has raised concerns concerning Tony Khan and the ownership structure of All Elite Wrestling (AEW). The issue came to light amid discussions about Warner Bros. Discovery’s stake in the company. This dispute centers on questions about how much ownership Warner Bros. Discovery holds and the transparency surrounding that information.
Earlier reports, including one from CNN, indicated that Warner Bros. Discovery maintained a minority stake in AEW, reportedly under 5 percent. Since 2019, the two organizations have collaborated on broadcasting AEW’s televised programming. This partnership has led to various speculations about Warner Bros. Discovery’s actual influence on AEW’s operations and ownership.
Eric Bischoff Questions Reported Ownership Figures
During a recent episode of his podcast, 83 Weeks, Eric Bischoff expressed skepticism over the reported size of Warner Bros. Discovery’s share in AEW. He suggested that the publicly stated ownership percentage was being understated and could potentially be closer to 20 to 25 percent. Bischoff pointed to industry practices where equity stakes can be presented in misleading ways.
“I mean, the spin, the distortion, the lies by omission — with regard to probably every wrestling organization at some point, and probably every business at some point — that’s just the normal course of business. I’m not surprised…It’s like the nonsense with AEW and the 5 million a year contract. Then you hear about whether Time Warner owned a percentage of AEW. Now it’s out that it’s under 5%. Here’s my other prediction: when it’s all said and done — and we may never know unless there’s a merger or acquisition that forces the issue — I suspect the equity is somewhere between 20 and 25%, not the 2% or 3% or whatever number has been released online for the internet wrestling community to run with.” — Eric Bischoff, Wrestling Veteran
While Bischoff did not fully commit to his estimate, he emphasized that accounting methods and business structures could obscure the real picture of AEW’s ownership. His experience at Turner, a major media company, contributed to his belief that more is happening behind the scenes than publicly disclosed.
“I think they own more than we’ve been told. Maybe it’s 5%, but we all know there are ways to structure things. There are generally accepted accounting principles — there are ways to account for equity in different forms. I don’t know anything for certain. But I know what I went through at Turner. I saw how things worked. We’ll see what happens. I’ve been about 98% correct so far. Maybe this is the one that takes me down. Who knows? We’ll find out eventually. Hopefully, we’ll find out.” — Eric Bischoff, Wrestling Veteran
Considerations on Sting’s Son Training with AEW
Separately, Bischoff also reflected on the pressures faced by Borden Jr., the son of legendary wrestler Sting, as he gains experience training and performing with AEW. Borden Jr. has been active on the independent wrestling circuit and has participated in dark matches for both AEW and Ring of Honor (ROH).
Bischoff shared his mixed feelings about the unique challenges Borden Jr. faces due to his family legacy, acknowledging the high expectations and difficulties associated with living up to his famous father’s reputation.
“It’s a lot of pressure though. I mean, I have mixed emotions about it. There’s going to, first of all, there’s so much pressure on anybody that’s going to step into this world and go out there and perform in your underwear. It’s just, you know, it’s a lot… when your dad is Sting, that’s a whole different level of pressure, different kind of pressure.” — Eric Bischoff, Wrestling Veteran
AEW’s Position Moving Forward Amidst Ownership Questions
AEW is currently positioned well entering 2026, but these unresolved questions regarding ownership and internal structure could pose challenges. The true extent of Warner Bros. Discovery’s stake in AEW remains uncertain, and possible future mergers or acquisitions might finally reveal the full picture. Until then, the wrestling world will continue to speculate on Tony Khan’s company ownership dynamics and the impact it could have on AEW’s future.
