There will indeed be a new player inserted into the professional wrestling landscape in 2019. As the clock struck midnight Tuesday on the West Coast, rumors of the All Elite Wresting promotion were confirmed as legitimate by "Elite" members Cody Rhodes, The Young Bucks and "Hangman" Adam Page on a special edition of the group's YouTube series "Being The Elite."

What's more, the first major event under the promotion's banner will be dubbed "Double or Nothing," which will serve as a follow-up to the wildly successful "All In" show that took place back on Sep. 1, 2018, and sold over 10,000 seats at the Sears Centre in Chicago.

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Shortly after the announcement on Tuesday, Dave Meltzer of the Wrestling Observer provided some more information on the new promotion, some of which was previously rumored. Tony Khan, the son of Jacksonville Jaguars owner Shad Khan, will be the money man behind the organization. As for stars signed to AEW, at this time that list includes Rhodes and potentially none others. The Young Bucks, who along with Rhodes are the driving forces behind AEW, are obviously expected to sign shortly, as are many of the familiar names that are cast regularly on "Being the Elite." Furthermore, AEW does not have a television deal secured at this time, though Meltzer did note that there are multiple offers on the table to provide air time as some were reportedly impressed with the success of "All In" last September.

A press conference will be held on Tuesday, Jan. 8 in Jacksonville, where more info on both the "Double or Nothing" event as well as All Elite Wrestling are promised to be provided.

Details are scarce at the current time until that press conference, but much of the pro wrestling world may know all it needs to following this blockbuster announcement: The Elite spurned WWE, which reportedly offered them lucrative deals to debut in 2019, and are headed to see just how far they can run with the ball this year and beyond.