Tony Khan just broke his silence on one of AEW’s most painful departures—and the numbers behind it are staggering.
The AEW President finally addressed Powerhouse Hobbs’ jump to WWE, revealing that his company made an unprecedented financial push to keep him.
What makes this story remarkable isn’t just that Hobbs left—it’s what he turned down to do it.
Speaking to Josh Martinez on February 4, 2026, Khan took the high road despite what must have been a bitter pill to swallow.
Khan Keeps It Classy Despite Major Loss
When asked about losing Hobbs to WWE, Khan focused on celebrating what the powerhouse accomplished during his AEW tenure rather than dwelling on the departure.
Well, I think Powerhouse Hobbs had a great run here in AEW. He started wrestling here in Jacksonville, where I am now, had some great matches, and became a champion in AEW. We were just talking about the TNT Championship—he’s a former TNT Champion and a former World Trios Champion. I’ll always wish him all the best.
Khan’s diplomatic response masks what insiders are calling one of AEW’s most aggressive contract offers ever extended.
Days before Khan’s comments, wrestling journalist Dave Meltzer dropped a bombshell about just how badly AEW wanted to retain Hobbs.
The Offer That Shocked Wrestling Insiders
According to Meltzer’s reporting on Wrestling Observer Radio and in the Wrestling Observer Newsletter, AEW put together a five-year deal that would have made Hobbs one of their highest-paid performers.
The proposed salary wasn’t just competitive—it was historic by AEW standards.
He got a great AEW offer to stay but I don’t know his WWE offer. The AEW offer was much higher than I would have expected. It would have been a number that I believe would have been higher than anyone but Chris Jericho earned in AEW’s first year in 2019.
Meltzer went further, comparing Hobbs’ potential deal to some of wrestling’s biggest names.
Comparing to WWE’s Top Tier
The financial package AEW assembled reportedly rivaled what Bryan Danielson received when he made his shocking jump from WWE to AEW.
It would be in line with what Bryan Danielson got to jump from WWE to AEW, maybe slightly less but in line.
To put that in perspective, Meltzer noted the offer exceeded what major WWE stars were earning just four years ago.
It would be more than guys the level Kevin Owens and Sami Zayn were making four years ago (less than they are making now) and in the range of what a guy the level of Rollins were making around the same time and nearly triple of what many significantly high WWE stars were making in the first year or so of AEW after the first round of increases had taken place.
We’re talking about money comparable to Seth Rollins territory—and significantly more than established main eventers were commanding during AEW’s early years.
Only Chris Jericho among AEW’s 2019 originals would have been earning more.
Why Hobbs Still Chose WWE
Despite AEW’s massive financial commitment, Hobbs made his decision clear in January 2026 when WWE officially announced his signing.
WWE had been pursuing him for some time, and their patience paid off.
His debut couldn’t have been bigger—entering as #14 in the Royal Rumble under his new ring name, Royce Keys, a touching tribute to his son.
The name change signaled a fresh start, and WWE wasted no time showcasing their new acquisition on one of wrestling’s grandest stages.
What Hobbs Accomplished in AEW
Khan’s comments highlighted Hobbs’ journey from Jacksonville prospect to AEW champion.
His accomplishments during his run included:
- Former TNT Champion – capturing one of AEW’s most prestigious singles titles
- Former World Trios Champion – proving his versatility in tag team competition
- Multiple high-profile matches – establishing himself as a credible main event threat
- Starting his career in Jacksonville – making him one of AEW’s homegrown talents
That resume made him exactly the type of talent AEW builds around long-term—hence the unprecedented contract offer.
Reading Between the Lines
Khan’s gracious public comments suggest Hobbs left on good terms despite turning down generational wealth.
There’s no bitterness in Khan’s tone, no shots taken at WWE, no suggestion Hobbs betrayed the company that helped build him.
That professionalism matters in an industry where bridges burn quickly and grudges last decades.
For Hobbs—now Royce Keys—the decision apparently came down to more than money.
Whether it was childhood dreams of performing in WWE, belief in their creative direction, or simply wanting a fresh start under a new identity, something outweighed even AEW’s historic financial offer.
What This Means for Both Companies
For AEW, losing Hobbs despite throwing Bryan Danielson money at him represents both a financial loss and a talent development setback.
They invested in building him from the ground up, only to watch WWE reap the benefits.
For WWE, landing Royce Keys shows their ability to cherry-pick AEW’s best talents even when significantly outbid financially—suggesting their brand power and platform still carry enormous weight with performers.
The fact that Meltzer doesn’t know WWE’s actual offer is telling—it may not have needed to match AEW’s astronomical bid to win.
Tony Khan handled this departure with class, highlighting accomplishments rather than dwelling on rejection. But make no mistake—losing a talent you offered Chris Jericho-level money to stings, no matter how diplomatically you address it publicly.