Chris Jericho and Jim Ross are reportedly working to launch a major new wrestling promotion with the financial backing of billionaire Shad Khan, according to SEScoops. 

Both Jericho and J.R. are reportedly recruiting talent for the promotion with names such as Cody, The Young Bucks, and Hangman Page all reported to be on board. There is even a rumor that Kenny Omega might have some involvement.

In addition, there is speculation that AXS TV is looking to pick up the promotion, although they are denying such at the moment, but J.R. is known to have a strong relationship with the network and they have a keen interest in wrestling content.

Their financial backer Khan, currently owns the Jacksonville Jaguars NFL team and an English Premier League team.

The timeline for the launch of the promotion is reported to be around 12-16 months.