Jericho beat Hangman Page to become the first champion under the All Elite Wrestling banner in the headliner of the All Out event.
This match was set up shortly after the first AEW pay-per-view event, Double or Nothing. At this show, WWE Hall of Famer Bret Hart made a surprise appearance to present the title for the first time for fans to see.
Earlier in the night at Double or Nothing, Page drew the Joker card in the Casino Battle Royale allowing him to enter at lucky number 21 where he would win the contest.
In the headliner of that same show, Jericho was victorious over Kenny Omega in a classic match.
Jericho came out of nowhere while wearing a Dark Order creeper mask to attack Page with the Codebreaker then took off his mask and rained down kicks/punches to his next opponent.