Tonight’s episode kicked off with Seven-Time Women’s World Champion Mercedes Moné making her AEW Dynamite debut!

The fans were chanting “CEO! CEO! CEO!”

“I think the women’s division—everything—here in AEW has just gotten a lot more interesting,” said Excalibur.

Mercedes Moné: “Boston, I’m home! If you guys could feel my heart right now, it’s beating out of my chest. First thing I want to say is thank you. Thank you for having my back these past two years. Thank you for giving me the courage and the strength to be here. Thank you for sticking with me through all of my lows, my highs, my milestones, my titles, my history making moments, thank you!

“And trust me, we are going to be creating so much magic, and so many moments, together. Because every single one of you, you are the reason I’m here. So, thank you. I love you guys. And if you only knew how much tonight means to me, how much this means to me, how much wrestling means to me. In so many ways wrestling has changed and saved my life.

“Wrestling has given me hopes, a place to dream. My dreams got me to lead a women’s evolution. My dreams made me to become the first ever woman to main event a pay-per-view in this very building. My dreams started when I was only 10 years old. And when I was 13 years old, I dropped out of school to take care of my brother. And I had a dream to become the greatest women’s wrestler of all time. And I want you to know, if I can do it, you can do it too.

“So, let’s get down to business. You want to know why I’m here? Because I need to be here. AEW is the only place where this revolution can be global, and we are going to make that happen. I’ve been watching week after week after week, and everyone in that locker room, I can’t wait to tear it up with you.

“But let’s start with tonight’s main event, Riho against Willow Nightingale. Now Willow, you and I have a lot of unfinished business. But right now, at Big Business. Mercedes Moné is All Elite! So, to our chairman, Tony Khan, thank you so much for that tweet, to all the AEW fans out there, please say hello to your new CEO!”

“This is going to be a moment that we never forget here in AEW,” said Tony Schiavone.

“Big Business going down in Boston,” added Excalibur.

Riho was getting warmed up backstage ahead of her match against Willow when Mercedes walked by and introduced herself.

Mercedes: “I look forward to your match tonight.”

Main Event Time!

Willow Nightingale (accompanied by Stokely Hathaway & Kris Statlander) vs. Riho!

Willow connected with a running cross body. Riho rocked Willow with a running dropkick and then clocked Willow with a knee strike. Willow walloped Riho with a dropkick off the turnbuckles!

Riho hit a diving cross body on Willow for a near fall. Riho followed up with a Northern Lights suplex, but Willow kicked out at the two-count!

“Willow hit very hard that time,” said Tony Schiavone.

Riho climbed to the top turnbuckle and went for the diving double foot stomp, but Willow dodged it! Willow sent Riho flying with a running pounce! Willow tried for a senton off the apron, but Riho moved, sending Willow crashing on the arena floor! Riho ran off the apron and walloped Willow with the diving foot stomp!

The fans chanted “This is awesome! This is awesome!”

Riho drilled Willow with a dragon suplex on the apron! Riho hit the double foot stomp again, but this time Willow kicked out at the two-count. Willow avoided a running knee strike from Riho. Willow landed a big lariat. Willow smashed Riho with the gut wrench doctor bomb and scored the pin fall victory!

After the match, the lights in the arena went dark!

When the lights came back on, TBS Champion Julia Hart was standing in the aisle! Skye Blue ambushed Willow, chop blocking her leg. Julia and Skye double teamed Willow in the ring! Skye held back Willow while Julia was about to crack Willow in the head with the TBS title when Mercedes Moné’s music hit!

Skye Blue charged up the ramp at Mercedes and Mercedes clocked her! Mercedes entered the ring and planted Julia!

“Mercedes Moné, wow, what a difference maker here tonight,” said Excalibur.

Mercedes turned her attention to Willow, and they smiled at each other, with Willow raising Mercedes’ arm.

“Great respect shown by Willow towards the CEO Mercedes Moné,” said Excalibur.

“There’s never been a better time to be a fan of AEW than right now!” added Tony Schiavone.

WWE Women’s Tag Team Titles Match: Bianca Belair and Sasha Banks vs. Nia Jax and Shayna Baszler

We go back to the ring and out first are the WWE Women’s Tag Team Champions – Nia Jax and Shayna Baszler. Bianca Belair and SmackDown Women’s Champion Sasha Banks are in the back for an interview. Carmella’s sommelier Reginald interrupts and praises Banks. He’s off to put her a bottle of wine on ice. Belair says maybe they can toast to her decision after tonight’s victory. Banks and Belair make their entrance now.

Jax and Belair start things off, showing each other up early on. Belair gets the upperhand and Banks comes in. Belair uses Banks to take Jax down and they double team her. Baszler comes in but Belair hits a big dropkick. Baszler counters and applies an armbar but Belair fights her off and nails a shoulder tackle. Banks tags in and hits a Meteora for a 2 count. Banks keeps control until Jax levels her on the floor and brings her in for the double team. Baszler works on Banks’ arm now.

Baszler drops Banks for a 2 count. Baszler grounds Banks and levels her with a clothesline when she tries to make a comeback. Jax comes back in and drives Banks down for a 2 count. Jax grounds Banks now. Banks mounts some offense as Baszler comes back in. Banks with a crossbody from the top for 2. Banks keeps fighting for another pin attempt. Banks back-slides Baszler for another pin attempt. The Kirifuda Clutch is broken when Belair tags in. Belair and Baszler mount more offense and Banks hits a Frogsplash from the top but Baszler kicks out just in time. Banks with a big knee to Baszler as Belair comes in and hits her with the KOD. She covers for the win but Jax pulls her out of the ring.

Jax works Belair over and rolls her back in but Belair unloads with strikes. Jax blocks a KOD attempt and then drives Belair into the mat for a close 2 count as Banks breaks it up. Baszler runs in but Banks sends her to the apron, then a knee sends her to the floor. Jax grabs Belair on her shoulders but Banks tags in. Jax with a Samoan Drop to Belair.

Jax takes a top rope Meteora from Banks but still kicks out at 2. Reginald comes down with a bottle of champagne and a glass. Banks is almost distracted but she drops Jax into a Banks Statement. The hold is finally broken. Reginald hands Banks the bottle and she’s confused. The referee sees this and snatches the bottle from her. Jax takes advantage of the distraction and drops Banks with a Samoan Drop for the pin to retain.

Winners: Nia Jax and Shayna Baszler

– After the match, Jax and Banks stand tall and exit with the titles as the music hits. Reginald hits the ring and apologizes as Belair checks on Banks. The champs raise the titles on the ramp as the arguing in the ring continues.

Reginald vs. Sasha Banks

We go back to the ring and out comes SmackDown Women’s Champion Sasha Banks. Back to commercial.

Back from the break and out comes Carmella with her sommelier, Reginald. Banks takes a rose from Reginald and he tells her to kiss him on the cheek. She rocks him instead. Banks comes off the top with Reginald’s arm and tries to send him flying but he lands on his feet. Carmella talks trash from ringside. Reginald with a waistlock but Banks tries to fight free. Banks escapes and grabs him from behind now. Reginald escapes and goes to the floor. Banks charges but he leaps off the apron with a back flip, frustrating Banks. Banks with a baseball slide to kick him into the barrier. Reginald runs and leaps over the steel steps, putting on the brakes so he doesn’t collide with Carmella, who is sipping champagne. They both run back in the ring and run the ropes.

Reginald avoids disaster once again. They tangle some more until Banks nails a big bulldog. Banks talks some trash to Carmella. Banks missing running knees in the corner as Reginald moves. Banks avoids an elbow drop. Banks rolls Reginald but he kicks out. Banks counters a powerbomb with an arm drag. Banks fights in from the apron with a knee to the face. Banks goes for a top rope crossbody but he catches her. Banks sends Reginald back to the floor with an arm drag.

Banks leaps off the apron with a Meteora on the floor, right in front of Carmella. Banks knocks her glass from her hand. Banks and Reginald go back in the ring and Banks hits a Backstabber but Reginald rolls through. Banks keeps kicking him away. Banks counters and nails a Meteora. Banks. These horrible counters continue until Banks drops Reginald into the Bank Statement and he taps out for the win.

Winner: Sasha Banks

– After the match, Banks stands tall as her music hits. She tosses Reginald to the floor in front of Carmella. Banks and Carmella yell at each other as Banks stands tall in the ring.

– We go right to the ring as SmackDown Women’s Champion Sasha Banks comes out for her WWE TLC contract signing with Carmella. WWE Producer Adam Pearce is waiting in the ring.

Pearce goes over the signing as Banks takes her seat. Pearce goes to introduce Carmella but Banks immediately stops the signing. She’s upset over the fact that the contract is not in the folder. Banks asks Pearce if this is some kind of set up. Carmella appears on the big screen. She has the contract and has signed it. There’s a man standing next to her, who she says is her messenger boy. She asks the man to take the contract to Banks and have her sign it.

Banks insults Carmella and Carmella goes on talking, saying there was no way she was getting in the ring with Banks tonight. They have words over their TLC match as Banks talks about stretching Carmella and making her cry. The man comes walking down the ramp with the contract. He enters the ring and hands it to Pearce as Carmella and Banks continue arguing. Banks signs the contract with her Boss stamp. Banks says if Carmella wants the title, come out here and get it tonight. Carmella says that sounds like a plan. Pearce says that sounds like a main event. He makes it official – Carmella vs. Banks for the title, tonight.

Banks says she’s going to give Carmella a preview of how the match will go – she slaps the messenger guy and beats him up, dropping him with a Backstabber and turning the table over on him. Banks raises the title as her music hits and Carmella watches from the big screen.

– Cole and Graves hype Carmella vs. Banks for tonight’s main event.

SmackDown Women’s Title Match: Carmella vs. Sasha Banks

We go back to the ring for tonight’s main event. We see Carmella’s messenger guy at ringside with her champagne setup. The music hits and out first comes Carmella with a new entrance. Out next comes SmackDown Women’s Champion Sasha Banks. Sasha poses on the apron as the pyro goes off. Back to commercial.

Back from a break and announced for next week is Bianca Belair vs. Bayley, plus a title match between SmackDown Tag Team Champions The Street Profits and Robert Roode & Dolph Ziggler. We go back to the ring and get formal ring introductions. Bank and Carmella lock up and go to the corner. They break and Carmella slams Banks to the mat by her head. Carmella talks some trash while working Banks around. She traps Banks against the ropes as the referee counts. Carmella slaps Banks in the face and fans boo her.

Banks fights back and Carmella rams her back into the corner. Carmella with back elbows in the corner now as the referee counts. Carmella rams Banks back into the corner and charges. Banks sends her to the apron and nails a knee to the face. Banks leaps over the top and delivers a Meteora on the apron. Carmella fights back on the apron and slams Banks face-first into the edge of the apron. Banks falls to the floor and Carmella immediately follows, grabbing her as we go right back to commercial.

Back from the break and Banks is in control. Banks pulls Carmella to the top for a superplex. Carmella fights back and slams Banks face-first into the top of the turnbuckle. Carmella drives Banks’ arm into the post and then kicks her to the floor. Carmella follows and sends Banks into the apron, then rolls her back in the ring for a close 2 count.

Carmella yells at Banks while she’s down. She then mounts Banks with more strikes for a 2 count. Carmella’s messenger boy has her champagne toast ready at ringside. Carmella keeps control with more strikes, then grounds Banks. Fans start to rally for Banks. Banks backs Carmella into the corner and hits back elbows to drop her. Banks charges with the running knees to the face in the corner. Banks launches herself back in from the apron with knees for a close 2 count. Banks shows some frustration now. Carmella blocks the Backstabber. Banks walks into a kick and goes down. Carmella goes to the second rope and drops back over the ropes with her hands on the apron with a submission. Fans boo as she uses the whole 5 count.

Carmella goes back to the top and hits a crossbody for a 2 count. Carmella kicks Banks in the gut. Banks counters with a Jackknife cover for 2. Carmella goes right back into the Code of Silence submission in the middle of the ring, but she can’t get it fully locked. Banks resists and goes into the Banks Statement. Carmella tries for the bottom rope to break it.

The messenger boy, or sommelier as they’re calling him, tries to help from ringside and puts a bottle in the ring but the referee grabs it. He then pulls Banks out of the ring to the floor while the referee isn’t looking, breaking her submission. Banks chases him and comes back in, brawling with Carmella. Banks unloads and beats Carmella down in the corner now. The referee calls for the bell as Banks won’t let up.

Winner by DQ: Carmella

– After the bell, Carmella’s sommelier comes from behind and grabs Banks again but she decks him and applies the Bank Statement on him. Carmella makes the save, yells at Banks and superkicks her in the face, knocking her out of the ring. Carmella stands tall as fans boo her. Carmella yells that Banks has officially lost it. She goes to ringside and yells the same thing in her face. Carmella puts Banks’ face in her ice bucket and puts her back down, still yelling at her in front of the announce table. The referee tells Carmella that’s enough. Carmella grabs one of the champagne bottles and smashes it over Banks’ lower back as the boos get louder. Carmella laughs and pours herself a toast. Carmella then sprays the announcers and Banks with champagne. Carmella yells at Banks some more and is then announced as the winner, but Banks is announced as the champion still. We go to replays as Carmella shows off some more at ringside. Carmella dances at ringside as her music hits. The TLC go-home edition of SmackDown on FOX goes off the air