Jericho returns to AEW

Yesterday, I penned an article about the WWE playing the John Cena card as the host to try to boost Wrestlemania ticket sales, and explained that not nearly enough time had passed for his appearance to truly make an impact or move the needle. I explained a few different examples from different eras based on the Jim Cornette philosophy, "how can we miss you if you won't go away?" to illustrate when it can or can't be effective.

One of the examples I used was Cody Rhodes' ambitious exit from the WWE in 2016, his role in the launch of All Elite Wrestling, and ultimately how that time away allowed him to not only reinvent himself, but also build up the demand for him to become the top guy that he is today. I also mentioned that with rumors of Chris Jericho's possible return to WWE that the eight years away from the organization created an anticipation for a final Y2J run on the big stage before he hung up his boots.

Despite it being April Fool's Day, which you can't really count anymore because the entire world is a joke, the notion that Chris Jericho would be back in AEW circulated online just a few hours before Dynamite was set to broadcast live from his original hometown of Winnipeg. Sire, it made sense on the most superficial level as somewhat of a "homecoming," but since he had been kept off of television for a year, it looked like it was another case of Tony Khan paying someone to stay home to avoid giving them any exposure before they left the company, which is what happened with a slew of other talents before they arrived in the WWE.

Chris Jericho did, in fact, return to the company in the opening segment of the television show last night, but there are still more questions than answers surrounding his status going forward.

Jericho proclaimed that he was "home" in AEW, implying that he will be there for the long haul, and at 55, it's reasonable to assume that would translate to eventually retiring from in-ring competition at some point under the All Elite banner. As fitting as it would be for him to have his career conclude in WWE because of the nearly two decade run that he had there, Jericho has always tried to think outside of the box, in terms of avoiding being typecast by the corporation. Ironically, that's what prompted him to work for New Japan in 2018 and eventually ink a deal to be on the ground floor at the start of AEW. That's why while it seems like an almost automatic decision for him to choose a WWE return with a Hall of Fame induction and all of the merchandise that goes along with it, there's still a very valid argument to be made that he should retire as an AEW star.

By 2018, Jericho was being regulated to a background figure within the WWE landscape, as he had done more or less everything that he could do there, and the office saw him as a part-time legend to make cameo appearances. Jericho thought, and he was proven to be correct, that he had more to offer to the pro wrestling industry as a whole than a rather limited range of options in the WWE. Jericho was instrumental in All Elite Wrestling getting off the ground, not only because of his star power, but also the sense of optimism that he brought to the table around the new venture. Of course, the entire point of trying to launch a company on a national level is to try to reach the biggest demographic possible and thus maximize potential revenue. If that was Tony Khan's true goal with all of this is a different discussion for a different time, but the point being, for any new promotion, the office is asking the fans to invest in the product through ticket sales, merchandise and pay-per-view orders. The audience isn't going to be nearly as willing to do that if they think that the project might fizzle out rather quickly. Was there really a demand for Wrestling Society X t-shirts?

When Chris Jericho put the future of his career toward the efforts of All Elite Wrestling, it gave the fans a sense of confidence in the potential of the project to get off the ground because they knew that Jericho wouldn't risk being so closely associated with a venture if there was a major chance that it would fail. Make no mistake about it, Jericho's legacy would be looked at differently if AEW folded with him as the top star for the new venture. It can't be understated how important that vote of confidence was for the perception of the company when it started in 2019.

Jericho's peaks and valleys in the organization were discussed in the previous article so there's no need to rehash all of that here, but what exactly does he do in AEW now?

The promo that he cut on television was very general and didn't provide any indication on the direction that he will take going forward. It was reported online that he recently filed for the trademark of "the cornerstone," which some speculated might be related to his possible WWE return, but given that the company usually owns as many monikers as it can, maybe that should've been the clue that he was staying with AEW.

As I said in the prior write-up, I think Jericho has done more or less everything he can do in AEW so I'm really not sure who he works with or what storyline he could reasonable be used for in 2026. He started at the top of the card, as he should've, but with even the Ring Of Honor title reign out of the way, there's not too much meat left on the bone for him in the role as the established legend in the promotion. At 55 and a legitimate legend, it's not as though Jericho can work the opening match with Serpentico. No disrespect to Serpentico, of course.

However, what Jericho is booked for in this new chapter in AEW might actually depend on his true status with the company.

There were rumors that Jericho's AEW contract was frozen when he took time off to tour with Fozzy. If that was the case, depending on how much time he has left on the deal, this might be a short-term run with a basic angle. If his agreement with the promotion expired at the end of 2025 as the rumor mill suggested and he signed a new contract to more or less decide that he will spend the rest of his in-ring career in the company, the way to book him could be exponentially more complicated. Again, you don't want to use his cache as a star in a way that doesn't progress the narrative of the shows, but at the same time, there's not much new territory for him to cover in AEW. Obviously, it remains to be seen how Jericho is used, but given the prior criticism about how his tenure plateaued before the hiatus, the decision on what to book for him should be made very carefully, as it could determine if the final chapter of his career as an active wrestler is yet another tenure that he kept himself relevant or if it gets panned by the audience.

Assuming that Jericho opted to sign a new deal to retire with AEW, you have to ask yourself what was the motivate behind it? It could be as simple as Tony Khan didn't want to lose another top star to WWE, even if Jericho's impact on AEW in more recent years has been minimal. Tony might've offered him such a hefty amount of cash that Jericho couldn't turn it down. The pomp and circumstance of the WWE Hall of Fame induction is a great way for the performers to get recognition and appreciation, but the WWE HOF status doesn't pay the bills. Benjamin Franklin wields more power in the real world than the WWE HOF plaque. If it was just a matter of money then it was an easy situation. At the same time, Jericho has made a career of  trying to stay ahead of the curve and differentiate himself, what does he do if he returns to the WWE? The reaction to the initial comeback would be a historic moment, but what about the actual direction? The prospect of Gunther choking Jericho out in his final match isn't exactly the best option, not because he shouldn't put Gunther over, but rather that it would make him just another name on the list.

It remains to be seen how the situation unfolds and only time will tell if the return to AEW was the right move for Jericho, but the biggest takeaway from this scenario might be that while All Elite doesn't have nearly the same momentum now as it did in the early years of the company, it's still a major factor in the industry.

John Cena hosts Wrestlemania

"How can we miss you if you won't go away?" -Jim Cornette

The Louisville slugger has often used that phrase to describe either the anticipation for a return, or on the other end of the spectrum, the notion that a performer overstayed their welcome with a particular run or gimmick. It's a very simple, but also a very accurate equation that applies on at least a semi-regular basis to the pro wrestling industry. At any given time, the business is either evolving toward something new or using its current cache, which by definition has a limited run. If anything stays for too long, in the vast majority of cases, it will become overexposed or stale. The ability to adapt keeps you ahead of the curve, and in the process, some very memorable moments can be created.

For example, Hulk Hogan was the golden goose of the 1980s, but even the top drawing card in the history of the business up until that point had a shelf life. By 1995, the audience had seen the ear-cupping routine and the leg drops. The switch to the New World Order was one of the biggest moments in the history of the sport and it gave The Hulkster another big run on top in WCW. Hulk as a heel would've been unthinkable less than a year before that when he was shilling Pastamania and the Thunder Mixer, as tacky as each of those ventures were. But, what did the heel turn ultimately set the stage for? Eventually, when enough time passed, the fans wanted to see the Hogan that they fondly remembered with the red and yellow from the glory days. How could the audience miss the all-American Hulkster if he didn't go away for a while? That's why when he returned to the WWF after almost a decade in 2002, it didn't take long for the fans to want to see him as a heroic baby face again. It had been eight years since he was waving the flag and posing while "Real American" blared in the background. What's old is new again is more or less a staple of entertainment. Without the eight years as a villain, the audience wouldn't have demanded a final run with the championship in the main event scene, which is why Hulk worked the main event scene with what was left of the Attitude era throughout 2002.

The reason there is a payoff for returns in wrestling is because the time away is what creates the anticipation.

In a different way, Cody Rhodes was away from the WWE for six years, and aside from reinventing himself as The American Nightmare, being instrumental in the launch of AEW, and proving the WWE office wrong when they typecast him as a secondary comedy character, his time outside of the company ultimately built anticipation for his return. Would Stardust have gotten the thunderous reaction at Wrestlemania 38?

As an example of how time away can lead to overall longevity, Chris Jericho kept himself ahead of the curve because for most of his career, he didn't overstay his welcome. When his WWE career plateaued in 2005, he left for two and a half years to tour with Fozzy. When he came back, it rejuvenated his career and ultimately led to some of his best work as a main event guy. Without that hiatus, the narrative of Jericho's career could've been very different. In fact, the current Jericho situation is proof of how time away can build up demand and thus put a fresh coat of paint on a performer. Jericho's work in AEW was originally very solid and key to getting the company off the ground, but the initial formula for the Inner Circle that got over as a way to spotlight younger talent became more about Jericho using a stable to try to stay relevant in the years that followed. It led to diminishing returns and his run fell flat. The Inner Circle was more successful than the Jericho Appreciation Society, and the society was more over than The Learning Tree faction. That's not a knock on Jericho, it's just to point out that his time in All Elite Wrestling ran its course. He hasn't been on AEW programming in a year and rumors still persist that a WWE return is on the table when his All Elite deal expires. Jericho did more or less everything he can do in All Elite and had garnered some resentment from the audience when it was perceived that his later efforts in the company were more self-serving than contributing toward the efforts to establish younger talent for the future. That's not to say that was Jericho's intention, but perception is often reality, at least from the fans' perspective. If Jericho resurfaces in AEW, it will be looked at as an eye-rolling retread, but if he shows up at Wrestlemania this year, it will be a historic moment after eight years outside of the organization. Again, how can we miss you if you won't go away?

There's no doubt that returns can translate to box office, but is the latest WWE comeback going to move tickets?

It was announced this week that John Cena will return to the company for the first time in all of four months to be the host of Wrestlemania. As I wrote in an article last week about the 25% off sale the WWE ran on tickets a mere two weeks after the larger 31.6% discount, the corporation realized that they overpriced tickets too late and there are way too many other factors that become more expensive overall than the discount on tickets since it's much closet to the event. The increase in flight costs and hotel reservations are significantly more expensive now than they were before either the 31% or 25% off sales. The discount doesn't cover the difference so if cost was the deterrent before, it's going to remain the biggest hurl to moving tickets.

As much as a bonafide legend as John Cena is, he hasn't been gone anywhere near long enough that putting him back on screen is going to make a difference in the numbers. The WWE just had a year with Cena as the focus of the retirement tour, with the emotional farewell. You can still order the farewell merchandise on WWE Shop, it's not as though fans have had enough time to fondly reflect on their favorite Cena moments, it's still a current topic. Furthermore, if he was going to retire at Wrestlemania or was gone from the ring for several years and was going to wrestle again, it might be a different story. But, is John Cena cutting a promo for the first time in four months really something that fans will be motivated to pay hundreds of dollars to see in the building?

This isn't Steve Austin coming back after 19 years with no official retirement at Wreslemania 38 to have a match against Kevin Owens when the company had to do something to sell tickets in Dallas. As flat as it was, this isn't The Ultimate Warrior's comeback in 1996 when there was at least some intrigue to what the guy was doing since he abruptly left the WWF a few years earlier. This is just a promo, and it's a sign that management is desperate to get fans in the building, as there's still a 30% decline in tickets sold last year in the same venue less than three weeks before the pay-per-view.