In a unexpected development that has sent ripples through the wrestling industry, Tony Khan, the key player in All Elite Wrestling (AEW), has successfully secured a substantial tax benefit from Ohio. The Ohio Department of Development, along with Governor Mike DeWine, has revealed a significant initiative, granting $36.7 million in state tax credits to assist 17 theater, television, and film production projects in Ohio.
The Ohio Film Tax Credit Program is in place
The Ohio Film Tax Credit Program is an innovative initiative that offers a 30% refundable tax credit for salaries and eligible expenses for the cast and crew working in the state. This program is comprehensive, providing benefits to various projects like feature films, documentaries, Broadway and pre-Broadway shows, miniseries, video games, and music videos. In his official statement, Governor DeWine highlighted Ohio’s distinct attractiveness as a hub for production.
“Ohio is an ideal location for entertainment production. We offer big city backdrops, small town appeal, and everything in between,” he said. “We’re happy to welcome these productions — and the economic impact they’ll bring — to Ohio.”
AEW’s Financial Bonanza
AEW is one of the recipients of the initiative, with Tony Khan’s company obtaining a significant $1,275,000 in tax credits for its work in Cleveland. This unexpected sum of money is included in a budget initiative scheduled for the upcoming 2024-2025 season, which is due to start in October.
AEW is listed as receiving $1,275,000 in tax credits from the Ohio Department of Development for productions in Cleveland and TBD, as part of the Ohio Motion Picture Tax Credit Program.https://t.co/vOf3CvqFpC pic.twitter.com/75m4bInO4z
— Brandon Thurston (@BrandonThurston) July 29, 2024
WWE Joins the Fray
Interestingly, AEW isn’t the only wrestling giant to benefit from Ohio’s generous tax credits. WWE also secured a substantial amount of $1,675,986 under the same program. This development, announced back in February, highlights the significant investment Ohio is making in the entertainment industry.
AEW’s Ohio Presence
Since 2020, AEW has made Ohio a focal point for its events, holding 27 shows, including episodes of Dynamite, Rampage, and various non-televised live events. Their last show in Cleveland was in September of last year, featuring a new episode of Collision. AEW is set to return to Ohio on September 12, with recordings scheduled at the Nutter Center in Dayton.
The Rivalry Intensifies
While AEW enjoys the perks of Ohio’s tax credits, an undercurrent of rivalry with WWE is making headlines. AEW wrestler Thunder Rosa has publicly accused WWE of expanding into markets where AEW has established a strong presence, specifically targeting the British market.
Thunder Rosa’s Accusations
During a candid interview on Busted Open Radio, Thunder Rosa did not hold back. She criticized WWE’s strategy, labeling it as a “capitalist issue.” “I think it’s very interesting, the timing that this is happening. It’s so interesting…It’s game on. Game is on and they are doing everything business-wise to become a company that is bulletproof and now [they’re] targeting a market AEW is targeting…It’s capitalism 101,” she remarked.
WrestleMania in the UK?
Adding fuel to the fire, there are rumors that WWE plans to host WrestleMania in the United Kingdom, a market where AEW has historically had considerable influence. Although WWE has yet to confirm this move, Triple H recently met with the mayor of London to discuss the possibility. This potential shift could significantly impact the wrestling landscape in the UK.
The Future of Wrestling
As the competition intensifies between AEW and WWE, fans are unsure of what the future holds. Could WrestleMania 42 potentially be held in the UK following WrestleMania 41 in Las Vegas? There is a great deal of anticipation and speculation taking place within the wrestling community.
