According to a report by Fightful, AEW has applied for a trademark on "Varsity Athletes" as of October 7th, 2022.

The filing reads:

Mark For: VARSITY ATHLETES trademark registration is intended to cover the categories of entertainment services, namely, wrestling exhibits and performances by a professional wrestler and entertainer; Entertainment services, namely, live appearances by a a group or individual wrestlers; Entertainment services, namely, televised appearances by a a group or individual wrestlers.

Mark Sterling said he copyrighted the word ‘Varsity’ for wrestling and gave the team that new name, essentially stealing the word from the Varsity Blonds. 

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