Double or Nothing 2025 saw the end of the year’s Owen Hart Cup Tournament in All Elite Wrestling (AEW). Multi-belt wearing Mercedes Mone took on underdog Jamie Hayter in the opener. A redemptive “Hangman” Adam Page clashed with “Aerial Assassin” Will Ospreay in the main event.
Each of these two matches was the best-built in the tournament’s history. The stakes for the final four were astronomically high, making the show a can’t-miss.
High-caliber talents pitted against each other, forcing fans to draw lines in the sand. Wrestlers played a dangerous game, and now they must react to the consequences.
Where do they go from here? Only the booking and their health can define that. The future’s not set in stone.
Using their characters and popularity, however, it’s easy to surmise their trajectories, starting with the winners and then the runners-up.
“Hangman” Adam Page
Page has had a long road to become who he is today. After losing the AEW World Championship in 2022, Page descended on a dark path, courtesy of Swerve Strickland.
This reckless Page was fueled by anger, further hampering any redemption or recompense. Once Christopher Daniels retired after their match and Strickland expressed remorse for his actions against Page, that all changed.
Softer eyes, yet angrier still, Page is directing his fury and power to something good: AEW Men’s World Champion Jon Moxley. Fans are highly behind him as he returns to being the main character of AEW.
The anxious millennial cowboy represents that we can all let go of the past and work towards something better. With the state of the world as it is, Page has to be “the one.”
Not Strickland, not Darby Allin. Him. With a 2-2 win-loss record against Moxley, it’s time to settle this.
For all the gold and the ecstasy therein.
Mercedes Mone
The former Sasha Banks is fresh off a title loss at NJPW’s Resurgence this year, having lost it to Stardom’s AZM. Mone’s entry into AEW has seen her clash with various women. Though coming out on top, she’d made several of her opponents into bigger stars.
Harley Cameron springs to mind. At Double or Nothing, she did the same for Jamie Hayter in a slugfest with the closest nearfalls that erupted the Arizona crowd.
One step closer to replacing the title she lost, she meets with another top star in the women’s division: AEW Women’s World Champion “Timeless” Toni Storm. Storm is no stranger to being a top star; she remains captivating in all her monochrome glory. She operates on a different level.
Mone, though seemingly self-absorbed, seeks to further her belt collection for more than personal accolades. She believes she is doing this for the legacy of the women in AEW and all of professional wrestling. In the ring, she proves that, using her big match style to elevate others.
The enormity of facing Storm is not lost on her; both wrestlers are a marquee match that would and should be the main event at this point in their careers. For this writer, I expect her to lose this match, revealing cracks in her ego that may either spiral her or redeem her. Both women are phenomenal wrestlers, so expect this match to deliver.
Will Ospreay
Ospreay’s loss at Double or Nothing, albeit devastating, humbled him as he shook hands with Page. Since joining AEW, the Brit has accrued many exciting matches.
Win or lose, he consistently delivers each time he’s booked. Unfortunately for him, he couldn’t get the job done.
Earlier in his career, from New Japan Pro Wrestling and RevPro, Ospreay read as cocky and polarizing. Through years of reflection, he proved himself to have improved as a person. Hoping to use his Hidden Blade to slice through Page, his wish was to dethrone Moxley and bring the title home to London, England.
A disheartening setback for sure, but one that the former United Empire leader will bounce back from. The question is, will he do so as a hero or a villain? Will his title aspirations direct him to the International Championship or the Continental?
Only time may tell, unless Don Callis has something to say about it.
Jamie Hayter
Swallowing the bitter pill of defeat, Hayter has no choice but to move forward. Freshly returned in August 2024 after nearly 15 months recovering from injury, this was her golden opportunity.
For her, each successive month is making up for the ones she missed. The build to Double or Nothing saw her rejuvenated, feeling a viable threat to the CEO in Mone. Victory was within her grasp
That night was the moment. She didn’t get that. The roar of the crowd, the support of the fans, and the war waged on a great opponent were her only reward.
Further behind where she was just at, she’ll have to work her way to the top again. Maybe she’ll face Storm once again, or someone new. But she’ll be fighting for that belt one way or another.
I’d expect the next steps for Hayter to be filled with new and familiar faces. Hikaru Shida (whenever she returns), Thunder Rosa, Harley Cameron, perhaps an incoming Toxic Spider. The women’s division has changed since she was gone, so it’ll be fun to see her explore it.
Honorable Mention: Athena and Billie Starkz
Defeated earlier in the tournament are a couple of talents that fans were looking forward to seeing more of. With almost every other Ring of Honor champion under the sun competing on AEW, Athena and Billie Starkz were given a spotlight. No paywall, just incredible action.
Following a defeat at the hands of Mercedes Mone, Starkz was featured less. Athena lost to the CEO shortly thereafter, to a nuclear-hot reception in a barn-burner of a match.
They were then back in ROH, away from cable television. Honor Club is the main method for watching these women.
Watching their matches live and after the Owen Cup, it’s clear how much this meant to them. Starkz and Athena put their souls into their matches. Maximized every minute.
If they’re being held back to protect them, there are ways to go around it. Maybe once a month, they can show up? If anyone else can show up to AEW, why can’t they?
Athena has been a main reason why people tuned back into ROH after her heel turn, and fans continue to ask for her. Let her and her minion shine.
Closing Thoughts
Overall, I’m boiling with anticipation for the winners and curious about the runners-up. I’m fully backing the Hangman Page agenda at All In, and I’ll be happy regardless of whether Toni Storm or Mercedes Mone wins at the Texas event. Will Ospreay will assuredly find his place in a substantial spot on the card.
He will inevitably become AEW World Champion someday. I can only hope the same for Jamie Hayter. She won fans over from 2021-2023; she can do it again.
This is what’s exciting about matches like these: outright pitting two immensely talented wrestlers together and making the winner worth the effort. Furthermore, the runner-up had to have made an impression to earn such a high spot, expanding on their loss by making their follow-up important and worthy of their place is essential.
Bookers have to take risks, and wrestlers have to see them through to the best of their ability. When done so well, the action sucks fans in. That’s what Double or Nothing did so well: it ramped up the drama so well that it was easy to forget kayfabe and feel like reality.
AEW is having a comeback in 2025. This is the year of high stakes. The means to find a who’s who in a roster of colossal talent. Enough of chasing feelings, become the moment.
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