AEW Announces Latest Signing
AEW EVP Cody Rhodes has announced Red Velvet has officially signed with the promotion.
Cody tweeted, “At The Crossroads @AEWonTNT event squaring off against @SHAQ & Jade…Red stepped up in a huge way! @TonyKhan saw what over a million people saw that night and upgraded her contract. She’s ALL ELITE now! Let’s stir it up my friend.”
Rhodes mentioned Velvet has had her contract “upgraded”, seemingly moving her from a tier 0 to tier 1 deal with the company.
Last year, during an episode of AEW Unrestricted, Rhodes explained how tiered contracts in the promotion worked. (h/t to Wrestling Inc. for the transcription)
“Agree to appear is a tier 0 meaning you’ll get a bonus, which Tony’s super super generous. If you ask some of these extras what they’re making for being there (Rhodes takes a moment), my dad would have lost it,” Rhodes remarked. “But he’s right. It’s COVID era. They have no other work. There’s no indies. Tier 0 is just a signing bonus and exclusivity to us in terms of we get a first option on you I believe is how it works, and we guarantee you x amount of dates, five dates.
“The exclusivity thing is case by case, but we guarantee you x amount of dates. The goal is you don’t want to pay someone agree to appear, Chris Harrington would handle this much better than I am, you don’t want to keep giving them their weekly, their weekly, their weekly, their weekly vs. tier 1-ing them, which is our base contractor agreement. That’s another thing, we’re just talking about Tony, we built a middle card and a lower card. We have tier 1’s, tier 2’s, tier 3’s, tier 4 and tier Jericho.”
Red Velvet had a major role in the feud between Cody and Shaquille O’Neil, teaming with Rhodes against Shaq and Jade Cargill on AEW Dynamite earlier this month.
Red Velvet has been a regular on AEW programming since last summer.