Chris Jericho and Jim Ross were reportedly leading the charge on a new promotion backed by the billionaire Khan family involving The Elite — but The Sheet has learned that’s not the case.

According to sources familiar with the situation, Cody Rhodes and The Young Bucks are the ones working behind the scenes on their next business venture following the success of ALL IN.

This includes talking to talent who are free to work elsewhere, or will soon be available. We’ve heard Jim Ross and Y2J would merely be talent if things get off the ground. This would explain why both issued denials in regards to the original story on their involvement.

As we previously reported, multiple trademarks were filed this month which seem to indicate future plans for events called Double or Nothing and All Out.

The address listed in the documents for All Elite Wrestling, LLC was TIAA Bank Field — the home of the Jacksonville Jaguars. This lends credibility to the rumored involvement of Tony Khan, co-owner of the team and son of billionaire Shahid Khan. Plus, the company who handled the filing once employed the current Senior Vice President/Chief Legal Officer for the Jacksonville Jaguars.

For those unaware, Cody has said his December 18 match against Jay Lethal at Final Battle will be his last match for the company. The ROH contracts for The Young Bucks/Adam Page/Cody reportedly expire on December 31 and Kenny Omega’s deal with NJPW is reportedly up at the end of January. It’s unclear when Marty Scurll’s contract with Ring of Honor ends.

The group has said they want to stay together and during a recent interview with Chris Jericho announced The Elite is no longer affiliated with Bullet Club.