#2 A Wildcard Championship would offer unique opportunities in AEW.
AEW has utilized gambling and playing cards for themes of PPVs, matches, and other facets of presentation. They have the Casino Battle Royal twice a year. The 21st entrant is always called the Joker. AEW also has PPVs called Double or Nothing, All In, and All Out.
If the new promotion was to continue along those lines with a new Championship, they could call it the Wildcard Championship. The concept would fit in because each title match would feature a stipulation or "wildcard" to set it apart from the defense of other championships.
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Since its inception, AEW has had street fights and an exploding ring match. Fans have also seen unsanctioned matches coined 'Lights Out' bouts. There have also been two Stadium Stampede matches featuring the Inner Circle.
Fans also witnessed different stipulations during Jon Moxley's path to the AEW Title against Chris Jericho. Jericho, in turn, recently had to complete the Labors of Jericho just to get another match with MJF.
Certain title matches have had stipulations, but this title would require one for every title defense. The choice for the stipulation, however, could be used to tell stories up until the actual title match.
The Champion could have a lackey similar to how MJF uses Wardlow or Britt Baker uses Rebel. The challenger would then have to get through the lackey. Perhaps the two wrestlers square off first and the winner gets to pick the stipulation.
The simple fact is that AEW could use any storytelling method to determine who picks the stipulation and what the stipulation is. That would be why it would be called the Wildcard title.
Keeping along with all its themes is smart. Adding a Championship that continues to follow those themes would be another smart choice. The talent keeps growing every few months, so another title will become a necessity.