Jaguars owners backing new All Elite Wrestling

Shad and Tony Khan of the ownership group of the Jacksonville Jaguars and Fulham FC are financially backing a new professional wrestling organization called All Elite Wrestling.

Tony Khan, the senior vice president of football administration and technology for the Jaguars, will be an officer in the organization. He is the son of Jaguars owner Shad Khan and together they serve as the chief investors of AEW, which enters an industry dominated by World Wrestling Entertainment.

They are partnering on this venture with some of the biggest names in professional wrestling who are not signed to WWE contracts, including former WWE superstar Cody Rhodes, Matt and Nick Jackson (known as The Young Bucks) and "Hangman" Adam Page. Collectively that group is known as "The Elite."

"I am the lead investor, a supporter and a backer of All Elite Wrestling, and I anticipate great things today and into the future for AEW and everyone who has worked passionately on this week's launch," said Shad Khan in a press release obtained by ESPN. "I know AEW will be welcomed by wrestling fans here in the U.S. and throughout the world who are ready for something new and authentic. AEW will work hard to deliver on that promise."

Shad noted that AEW will operate as an organization completely independent from his other business interests and will not divert attention or resources from any other teams, projects or investments. Tony Khan will serve a leadership role in the new company, while also continuing to serve in his current capacities with the Jaguars and Fulham FC.

"AEW will launch with a roster of the top wrestlers in the world," said Tony Khan. "While they'll clash in what will be some of the most intense and fast-paced contests ever sanctioned in the squared circle, they'll also share a common goal: to make this the true golden age, to make this the greatest time ever to be a wrestling fan."

In September 2018, Rhodes and the Jacksons spearheaded an independent wrestling event called "All-In" that attracted more than 11,000 fans to the Sears Center outside of Chicago.

No details have been announced in regard to the timing of their first event, although the event name "Double or Nothing" and corresponding logo has been released on social media by the organization.

There will be a formal news conference announcing the organization Tuesday afternoon in Jacksonville.