All Elite Wrestling

Veteran wrestler Jeff Hardy is eyeing a move to All Elite Wrestling when he is free from his non-compete clause.

According to Wrestling Inc., Hardy told Jared Meyers the news backstage at the wrestler's concert last weekend that he was heading to AEW.

"I’m going to AEW," Hardy said. "I’m so excited. Until this morning I didn’t really know. I’m so nervous and excited."

Hardy did, however, make it clear Thursday that "nothing is official":

Nothing is official, https://t.co/LtLomkmeE6 can’t be right now.I’ve simply set a goal for myself & I will achieve it…eventually?
The main thing is,”Don’t get excited!”

— #BrotherNero DELETED (@JEFFHARDYBRAND) February 24, 2022

Hardy's non-compete clause with WWE is set to expire March 9. He was surprisingly released by the company in December.

Joining AEW would reunite Hardy with his brother, Matt, who has been with All Elite Wrestling since March 2020. Matt and Jeff will be re-forming the Hardy Boyz for a reunion tour starting March 12 at a Big Time Wrestling event.

Bleacher Report catches you up on the latest news from the WWE Universe and All Elite Wrestling.

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Styles Reportedly Gets Big Money, Perks in New WWE Deal

AJ Styles is reportedly sticking with WWE for the foreseeable future, and he'll receive significant compensation to do so.

According to Fightful Select (h/t Michael Perry of Ringside News), Styles' WWE contract was set to expire in the spring or summer, but he recently signed a new deal that is expected to pay him over $3 million per year.

Fightful also reported that Styles will receive some additional perks as part of the contract, including extra bus travel accommodations.

WWE reportedly moved quickly to re-sign Styles before he could hit free agency and speak with other companies, and The Phenomenal One is "very happy" in WWE.

While Fightful was unsure of the length of Styles' new contract, Dave Meltzer said on Wrestling Observer Radio (h/t Mitch Waddon of Cultaholic) in January that it was either a three- or five-year deal.

Styles is 44 years old, meaning his new contract could conceivably take him to the end of his in-ring career.

Although Styles hasn't made any definitive statements regarding when he wants to retire, he has remained loyal to WWE publicly.

In 2019, Styles said he would like to retire as part of WWE. Then, in January, the veteran said he would like to potentially work with young wrestlers at the WWE Performance Center in Orlando, Florida, once he retires.

At over $3 million per year, Styles is likely one of the highest-paid performers on WWE's roster, which speaks to how WWE chairman Vince McMahon views him.

Styles has achieved more than most likely expected when he signed with WWE in 2016 after stints with Impact Wrestling and New Japan Pro-Wrestling, including holding the WWE Championship twice.

AJ is back on his own again after teaming with Omos for several months, and WWE may be ramping up for a Styles vs. Edge dream match at WrestleMania 38.

Pat McAfee Gives Troll Response to Rhodes Leaving AEW

SmackDown announcer Pat McAfee joked about Cody Rhodes leaving AEW and possibly signing with WWE on his show Tuesday.

During the Pat McAfee Show (h/t WrestlingInc's Eric Mutter), McAfee ran down Rhodes before revealing that he would be excited to see Cody come back to WWE:

"I guess Cody Rhodes is coming to WWE. I guess. Who cares dude? Him and his little friends started something, it was terrible. We actually went head to head on Wednesday, we beat them a couple different times. Who cares dude? To hell with Cody Rhodes. Now people are going to think I'm starting an angle with Cody Rhodes. ...

"I'm actually pretty pumped if Cody's coming back. Obviously a massive name in sports entertainment. If he's coming to Smackdown, I'm excited about it. Cody Rhodes is going to be cool, though, in WWE."

McAfee alluded to his previous appearances on NXT and the fact that NXT and AEW used to go head-to-head on Wednesday nights.

AEW Dynamite won the ratings battle most of the time, and NXT eventually moved to Tuesdays before transitioning to NXT 2.0, which puts a bigger spotlight on younger and less-experienced performers.

AEW, Cody Rhodes and Brandi Rhodes all released statements last week, making it official that Cody and Brandi were leaving the company after helping found it in 2019.

Cody's announcement came as something of a shock to wrestling fans since he was among the promotion's top stars as a three-time TNT champion, and he was also an executive vice president behind the scenes.

No official announcement has been made regarding Cody's next step in wrestling, but  PWTorch's Wade Keller (h/t WrestlingInc's Sai Mohan) reported Rhodes is WWE bound and in line for a "big push."

Keller also reported that Rhodes will appear at WrestleMania 38, whether it be for his debut appearance or a major match.

McAfee was likely joking around and looking to make some headlines by discussing a hot topic like he often does, but an angle between McAfee and Rhodes would likely do big business for WWE if Cody does indeed return to the fold.

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Bischoff Not Surprised Rhodes Decided to Leave AEW

While Cody's AEW departure was among the most shocking pieces of wrestling news in recent memory for most, former WCW president Eric Bischoff wasn't surprised.

Speaking about the topic on his 83 Weeks podcast (h/t Subhojeet Mukherjee of Ringside News), Bischoff gave his take on Rhodes leaving the company he helped found:

"I'm not surprised—not nearly as surprised as everybody else is, and it's not because I have any inside information or speak to Cody. Cody and I text back and forth every couple of months maybe. Look, I was more surprised that Cody left WWE.

"Let's think about that for a minute. You're 30 years old and on the biggest stage in the world in your particular industry. Yeah, you might be saddled with a character or gimmick you don't like, but guess what? You're making damn good money that you could probably retire on in five to 10 years if you're smart. But he was willing to walk away from that because he wasn't satisfied. It reminded me of his dad."

Cody left WWE in 2016, ending a decade-long run with the company. He held the Intercontinental and Tag Team Championships, but he never ascended to the role of being a top guy.

He was also stuck with a Stardust gimmick that he played well but capped where he could go on the card and what he could accomplish.

Upon leaving WWE, Rhodes established himself as a main-event player in Ring of Honor and Impact Wrestling, and he was an important part of New Japan Pro-Wrestling as well.

He also helped change the business by ushering in AEW and helping form a second major company to provide an alternative to WWE for the first time since WCW folded in 2001.

Still, something apparently left Rhodes unsatisfied in AEW, whether it be money, creative control or something else.

Cody figures to have even less creative control if he goes to WWE, but it is still the top of the mountain as far as wrestling promotions go, and if he can be one of WWE's top stars, he will gain more popularity and attention than ever before.

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Listen to Ring Rust Radio for all of the hot wrestling topics. Catch the latest episode in the player below (warning: profanity).

On Aug. 20, 2021, a familiar chant echoed throughout the United Center in Chicago as "Cult of Personality" hit and anticipation turned into uproarious joy. Just as it seemed too good to be true, CM Punk stepped out in front of his hometown crowd and soaked in the kind of sustained ovation that most performers have only dreamed of.

As of Sunday, it has been six months since the Second City Saint returned to professional wrestling. After seven years, one of the most talked-about figures in the sport made his AEW debut on the second episode of Rampage. It was a perfect start to the next chapter of his career.

The opening of the show will go down as one of the greatest returns in wrestling history; a moment that many of us will never forget. It left us with a lasting high that made it hard to question what Punk's run with the new company would look like. After all, most of us were just happy to see him back.

However, we've had enough time to process the last few months, and the straight-edge star has given us plenty to digest. So, let's analyze the first half of his maiden year with AEW.

                 

The Matches

For most fans, the biggest test for Punk would be how he looked in-ring. The 43-year-old prided himself on delivering memorable matches as far back as his time with Ring of Honor.

So, viewers waited with bated breath to see just how much ring rust he would exhibit in his first match since 2014. In response, he and Darby Allin put on an excellent performance at All Out.

In fact, the former Voice of the Voiceless has put together a respectable collection of high-quality matches in his new home. To date, he has wrestled in 13 contests, and they all offer a different look at his scrappy in-ring style and underrated technical prowess.

More importantly, just about all of his opponents have benefitted from entering the ring with Punk. It would have been easy for him to squash many of them and build up to more high-profile matches. Instead, Punk had competitive encounters with several up-and-comers.

The Second City Saint managed to survive his second opponent, Powerhouse Hobbs, and made the big man from East Palo Alto look great in the process. He also had standout matches with Daniel Garcia, Bobby Fish, Lee Moriarty, Eddie Kingston and FTR.

Nevertheless, his 38-minute showdown with MJF was easily his best match with AEW. Although the three-time Dynamite Diamond Ring winner handed him his first loss, the two produced an amazing main event on the Feb. 2 episode of Dynamite.

Grade: B+

             

Storytelling

One of the things that made Punk's first match with MJF so good was just how far The Salt of the Earth forced him to delve into his bag of tricks. The final member of ROH's inaugural class of Hall of Fame inductees even executed the Pepsi Plunge for the first time in 17 years.

In fact, this subtle, underlying story has made the Chicago native's comeback so intriguing. Punk has had to work for every one of his wins besides his bout with Shawn Spears, whom he put away in less than a minute.

Fans got to watch him reacclimate himself in real time and use different means to pull out a win in most of his early matches. The veteran often used his experience to eke out a crafty victory. This made it even more devastating when MJF cheated to beat him after another gutsy showing.

It's a traditional approach to storytelling, but Punk has such great attention to detail. His nods to legends like Bret Hart reward longtime fans, and his psychology makes his match much more believable.

It's interesting to compare his AEW run to Bryan Danielson's. The American Dragon is still at the top of his game. He took on The Best Bout Machine Kenny Omega straight away and quickly climbed the rankings to challenge Adam Page for the company's top prize.

Punk didn't go straight to the top of the food chain. Instead, he immediately called Allin, in whom he may have seen himself, in his first match and worked his way through a variety of unique opponents before he even mentioned the AEW title.

One would have to assume he and Danielson will eventually cross paths. It makes too much sense considering their history together. However, AEW has done a fantastic job keeping them away from each other and setting up a slow burn toward their inevitable feud.

Grade: B

             

Promos

For some fans, Punk's mic skill is his greatest strength. As such, there wasn't as much doubt in his ability to still cut strong promos, and he hasn't disappointed.

The Best in the World has only had two feuds in AEW, and they've both put him up against a pair of the best talkers in the company. First, he and Kingston played up 15 years' worth of tension ahead of their match at Full Gear. Next, his war of words with MJF on the Nov. 24 episode Dynamite produced one of the best segments of 2021.

The self-described Paul Heyman Guy has dropped some great lines, including "Send Hook," which became a meme. His work with MJF and Kingston gave him the right dance partners to flex his skills on the microphone.

If that wasn't enough, he turned the tables on the Long Island crowd on the Dec. 8 episode of AEW Dynamite. At the UBS Arena, Punk entered to MJF's theme and proceeded to eviscerate his foil's hometown. It was one of my favorite promos since his return.

Grade: A

           

The Verdict

It was always going to be difficult for CM Punk's return to wrestling to live up to expectations. However, the divisive star has already created so many memorable moments in just six months.

There's still so much we would like to see him do. Punk has only scratched the surface with AEW, but he has already proved that he can still go in the ring and that his silver tongue is still intact.

However, the real gift of his comeback is watching him enjoy wrestling again. The events that caused him to retire in 2014 seemingly left him miserable and disillusioned. It's encouraging to see Punk having so much fun working with new talent and treating fans to his version of pro wrestling.

At one point, it truly felt like Punk would never wrestle again. We're lucky to have him back during the industry's hottest period in some time.

During Black History Month, we highlight the many contributions of African Americans in the United States. All Elite Wrestling released a compilation album entitled Who We Are: A Celebration of Excellence, Vol. 1 on Friday as a way to commemorate the Black wrestlers on its roster.

AEW's in-house music producer, Mikey Rukus, came up with the idea as what he described as "30 for 30 episodes for AEW's Black wrestlers." It's a wonderful way to bring members of the wrestling community to tell their unique stories.

AVAILABLE NOW! WHO WE ARE: A Celebration Of Excellence Vol. 1. A compilation of shared stories of 20 of our @AEW stars, told by 35 producers and artists. Grab your copy NOW! All proceeds Benefit the @Bootsy_Collins Foundation!https://t.co/gWOSJN2JQY pic.twitter.com/qw6k52YQRK

— AEWMusic (@AEWmusic) February 18, 2022

"I have always envisioned AEW Music being a multi-dimensional experience for fans," Rukus said. "One of those areas that I wanted to see affected in a positive way was culture. When I looked at my calendar and saw February was only a few months away, I came up with the idea of highlighting our African American talent through music, but with a storytelling perspective that allowed listeners to connect with them on a personal level."

According to the official press release, Who We Are: A Celebration of Excellence, Vol. 1 will eventually be available on streaming platforms, and proceeds from the physical copies will go to the Bootsy Collins Foundation, which Rukus and AEW's Community Outreach Team identified as a viable partner during the development of the album.

The legendary funk musician also recorded an intro and interlude for Who We Are, giving the project an immediate sense of reverence. Rukus, a long-time fan of Collins, felt he and his foundation were an ideal addition to what he wanted to create, saying:

"He is a funk legend and well-revered within the Black Community as an entertainer. Not to mention, he's a great human being. While we were still in the planning phase with the AEW Community Outreach team, vetting a list of potential charities, I got a message from someone from the Bootzilla Camp. It clicked immediately, and after learning the mission of The Bootsy Collins Foundation, we knew this was a great fit. We're honored to work with them on this initiative."

          

THIS FRIDAY 2/18! WHO WE ARE: A Celebration of Excellence Vol 1. will drop! Check out “LEGEND” @TheMarkHenry Story by @JDeanWilliams @TeasyJones @RichLatta32 !! Pre-Order NOW! All proceeds benefit The @Bootsy_Collins Foundation!https://t.co/gWOSJML8so pic.twitter.com/PUvGrGYdJC

— AEWMusic (@AEWmusic) February 16, 2022

Music's Key Role in Black History

Music is an integral part of Black history. Early on, slaves used chants and work songs to preserve elements of African culture and create new genres of music. What started as spirituals blossomed into gospel, blues, and jazz.

During the Harlem Renaissance in the '20s and '30s and the Black Arts Movement in the '60s and '70s, African American musicians redefined the Black experience. Both periods enriched our collective consciousness and changed the perception of Black people in the U.S. and abroad.

In many ways, rap music is a direct response to Amiri Baraka's call to action. The poet and founder of the Black Arts Movement believed that art is more than just free expression; it should challenge social norms and nourish the community.

Despite some criticism of the genre, rap gives unconventional orators a chance to tell their own stories. As Michael Eric Dyson beautifully put it in his book, Know What I Mean: Reflections on Hip Hop, "hip hop music is important precisely because it sheds light on contemporary politics, history, and race. At its best, hip hop gives voice to marginal black youth we are not used to hearing from on such topics."

It may seem like a stretch to tie these ideas to professional wrestling. However, it's pertinent because Black wrestlers' stories have been largely conveyed by non-Black creators and historians for so long.

That's exactly why Who We Are is significant and why more projects like it are necessary. The Bootsy Collins Foundation is also important because it inspires young men and women to carry on these traditions and gives them the means to learn to play any kind of instrument they want.

AEW recently presented a copy of Who We Are: A Celebration of Excellence, Vol. 1 to the National Museum of African American Music in Nashville, Tennessee. It's a historic moment for the company and a major win for AEW Music.

        

Thank you to @theNMAAM for hosting our @AEW talent this morning. Our crew had a wonderful tour and presented the museum with a copy of #whoweare pic.twitter.com/oInkIZ2sxT

— AEWTogether (@AEWTogether) February 16, 2022

A Monumental Group Effort

Rukus acted as executive producer on this collaborative effort, which brought together rappers, producers and active podcasters. R8ter R, Rich Latta, Jon Connor, Mega Ran, Brinson, Omega Sparx and Monteasy, as well as AEW wrestlers Max Caster and Sonny Kiss, all contributed to this historic platform.

"Wanting to keep the music and the presentation as authentic as possible, I reached out to producers and artists who were not just familiar with the hip hop-R&B space, but familiar within the wrestling landscape," Rukus said. "After a series of conversations, we were set to move forward. We ended up with 20 AEW stars, 35 producers/artists and 15 different recording studios spread out across the U.S."

Latta said: "This is my first time working on something like this in wrestling. It's a little different than making a direct theme for someone, which I have one premiering very soon for someone. This is more in line with the old WWF Aggression-style songs. I had that CD as a kid and always wanted a promotion to reach out so I could do music for them. This was a no-brainer on jumping on something like this."

The rapper/producer and host of One Nation Radio echoes others' feelings about a lack of inclusion for hip hop artists in wrestling. Bringing many rappers and influencers from the online community together on this album seems like something someone should have done a long time ago.

Hip hop has always shown love for professional wrestling. However, its admiration for the sport often feels unrequited because many wrestling companies rarely give rappers or the genre's biggest outlets ample opportunities to help promote them. That's slowly starting to change, but it's telling that the biggest wrestling fan in the industry, Westside Gunn, expressed frustrations about the matter on Twitter in December.

Mega Ran is an influential presence in nerdcore hip hop with well over a decade of music under his belt. The Phoenix-based emcee has made appearances for companies like Ring of Honor. He has also worked on entrance music, including Xavier Woods' theme. On Who We Are, he exuded gratitude for a project like this and the chance to be a part of it.

"This is all we've ever asked of any wrestling promotion: to acknowledge our contributions and our love for the business, to love us back a little, to see us," Ran said. "People of color have always been seen as outliers in this world, though most wrestlers may have hip hop theme songs. Yet so few of us rise to the top of the profession. So to see Black excellence spotlighted and praised is far beyond what I've ever thought I'd see from a professional wrestling company. How could I not be a part of that?"

Josiah Williams, the voice behind Wrestle and Flow, shared his sentiment as a prominent figure because of his popular remixes, Shawn Spears' and Serena Deeb's theme songs and his work with WWE. The Christian rapper spoke briefly about what it meant to get the call to work on Who We Are.

"Getting that call was exciting, humbling and a reminder of why this work is so important," Williams said. "There's a history of Wrestle and Flow putting our culture, and Black History, in the spotlight over the years. It genuinely comes from the heart. I'm excited that AEW sees that vision in myself and so many others, and that they've allowed us to contribute our art."

https://twitter.com/AEW/status/1491219044015349762

Working with AEW Wrestlers to Bring This Project to Life

Lee Moriarty debuted his track, "Taiga Styling", on the most recent episode of AEW Dynamite ahead of a tremendous match with Bryan Danielson. Music is such a big part of the Pittsburgh native's character. So much so, that he recently spoke to Pitchfork about his taste in music.

As such, it may have seemed like a daunting task to work with Moriarty, but rapper True God called the opportunity a dream come true. The jazzy tune is one of the many highlights of the album. Everybody involved understood the assignment, as they say, because it perfectly fits TAIGASTYLE.

"I've been in and out of the wrestling business since 2013, and I've always wanted to do something like that," True God said. "As an artist, I'm a natural storyteller, and it's the crux of music, so when I found out I was working with someone like Lee, I was ecstatic. We have similar music taste, and he was pretty straightforward about what he enjoys in his Pitchfork article. In so many ways, this was a perfect fit, so I'm grateful for that."

THIS FRIDAY 2/18! WHO WE ARE: A Celebration of Excellence Vol 1. will drop! Check out “In The Mix” @Thee_Red_Velvet Story by @WilliamRBR @mistercutright @equippedmusic & @JDeanWilliams! Pre-Order NOW! All proceeds benefit the @Bootsy_Collins Foundation!https://t.co/gWOSJN2JQY pic.twitter.com/KtOvh2u9RJ

— AEWMusic (@AEWmusic) February 14, 2022

Red Velvet's song, In the Mix, kicks off the album on a high note. The 29-year-old said it was "an honor" to be a part of the first song following Collin's intro.

"The first song sets the tone for the album," Red Velvet said. "So, I'm honored that they had enough faith in my song to kick off the album. It's similar to wrestling—the opening match sets the tone for the show. It's an honor to open a show, likewise with the album. 'In The Mix' is a whole vibe! It's very upbeat and describes my story so well. I'm so happy it gets to kick off this amazing album."

Williams teamed up with the host of the Grapsody podcast, Will Washington, and Cutright to make this reggaeton-inspired track. The song immediately illustrates how many sounds and distinct stories went into the album. Red Velvet had a lot to do with this as a dancer and fan of dancehall.

"When I wrote out my story, I told the producers I wanted my song to be something I could make choreography to because of my dance background," she said. "I love Latin ballroom, so I wanted my story to have a little of the Latin vibes while still being close to the vibe of my entrance music. I gave them a lot of Doja Cat music as a reference because her songs always are so hype and just make you want to get up and dance."

Similarly, Jade Cargill talked about how her Jamaican heritage played a big part in her track, "Knockout". Rich Latta produced the song, which features verses from Monteasy, Anthiny King, and Righteous Reg.

"I put my roots into 'Knockout'," she said. "I'm a first-generation American. My father never let us forget where we were from. He was a very proud Yardie. I wanted Reggae with a mix of Kanye, something cocky, something me."

https://twitter.com/GrapsodyPod/status/1493384046260281350

Washington also worked with his co-host, Righteous Reg, and Gram of the Public Enemy Podcast on Powerhouse Hobbs' track. The latter was a last-minute addition to the song, but he contributed my favorite verse on the album.

"They were pretty much done with the project when Will reached out to me about the song," Gram said. "I assumed it was in regard to a podcasting opportunity. So to be invited to work on this song alongside him and Righteous Reg for Powerhouse Hobbs I was excited. Once I heard the record, I had to be a part of it."

All three artists are from California. So they made perfect sense for this record about Hobbs, who grew up in East Palo Alto. The dynamo of Team Taz spoke about his friendship with Reg and background in the most recent episode of AEW Dark Elevation.

Brandi Rhodes' song, "BGM", is also one of the best entries on the album. Mega Ran worked on this beautiful and inspiring record about AEW's former CBO, who recently left the company along with her husband Cody. Even more, the rapper said he told the company he would be penning a track about Rhodes.

"I insisted that he let me create a Brandi track," he said. "There weren't any plans originally. Some people weren't sure—we know how the internet has been to her over the last few months, but I don't think you can do a project like this without mentioning the highest-ranking Black woman in pro wrestling history. So once we got into the process of creating: me, Toure and Shara, I just felt a creative energy that I couldn't contain. I sent it back to the team, and they said it was one of their favorites of the bunch. I'm glad we did it."

Hopefully, Who We Are: A Celebration of Excellence, Vol. 1 is the first of its kind. It already seems like AEW plans to do more projects like this, and that's a big step forward. It's often hard for companies to promote initiatives during Black History Month without coming off as pandering.

However, Rukus seems to be coming from a genuine place in his attempt to unite with wrestling fans and creators to curate a powerful moment as opposed to a transparent marketing ploy.

The tracklist for Who We Are: A Celebration of Excellence, Vol. 1 includes:

• Intro f. Bootsy Collins
• In The Mix (Red Velvet Story) f. Will Washington, Wrestle and Flow, Cutright, E.Quipped
• Taiga Styling (Lee Moriarty Story) f. True God, Shokus Apollo
• Shine (Nyla Rose Story) f. Richa Latta, Monteasy, Jon Connor, Bliz
• Whatcha Lookin' At (Sonny Kiss Story) f. Sonny Kiss, Brinson
• Victory (Jay Lethal Story) f. Alexv, Omega Sparx, Swats, Kit Walters
• Knockout (Jade Cargill Story) f. Rich Latta, Monteasy, Anthiny King, Righteous Reg
• No Socks (Ricky Starks Story) f. Applejaxx, Brinson, E.Quipped
• I'm The Captain (Shawn Dean Story) f. Cutright, E.Quipped, Isaac Mather
• Mixed Messages (Max Caster Story) f. Max Caster
• BGM (Brandi Rhodes Story) f. Mega Ran, Touré Masters, FrivolousShara, Lost Perception
• The Bootsy Collins Foundation f. Patti Collins
• Underneath Me (Anthony Bowens Story) f. Zane Oliver, Quinn O'Donnell
• Fish N' Chips (Anthony Ogogo Story) f. Mega Ran, Tru God, Bliz, Tizzy
• Ready to Go (Private Party Story) f. Staylo Dom
• Legend (Mark Henry Story) f. Rich Latta, Monteasy, Wrestle and Flow
• Who's the Coldest (Top Flight Story) f. Brinson
• Powerhouse (Will Hobbs Story) f. Will Washington, Righteous Reg, Gram
• Dats On Period (Kiera Hogan Story) f. Tamira Slade, Tizzy, Bliz
• Fully Loaded (Lee Johnson Story) f. R8ed R
• Up in the Clouds (Scorpio Sky Story) f. Omega Sparx, Swats, Teek Hall, Doe the Paperboy, Mega Ran, K-Drama

When fans speculated about who would be the first Superstar to swim against the strong current and leave All Elite Wrestling for WWE, Cody Rhodes was so distant a thought, so unlikely, that most probably didn't bother putting his name on the list.

But he might just be the first.

That's still stuck in the land of speculation now for now. AEW President Tony Khan recently announced that Cody and Brandi Rhodes were leaving the company, and Cody released a statement of his own. According to Ariel Helwani of MMA Fighting, Rhodes has talked with WWE about a return.

Prerequisites out of the way, it's easy to hand-wave this sort of move as a major win for WWE. And it is—WWE had drastically bled talent to AEW, ranging from modern legends like Bryan Danielson to guys finally getting to spread their creative wings like Malakai Black, to name but two. It was also AEW, not WWE, that lured CM Punk out of his seven-year hiatus.

But the line of thought that says it's great for WWE would also seem to imply that it's bad for AEW.

Hardly.

It's awkward losing an executive vice president who helped establish the promotion. But it's also hardly surprising. After some stunning feuds and moments (remember the 10 lashings?) in AEW's infancy, Cody's momentum sputtered, and a hiatus didn't help. He was either unwilling or unable to go heel, and by making good on a stipulation that he would never challenge for the company's top title, he started to lose ground with fans.

Speculation about why Cody wouldn't change up his character aside (the Cena-ish vibes and non-wrestling stuff sticks out), he just wasn't generating reactions in the same way another guy who has been there from the beginning like, say, Chris Jericho still does. Doing things like going through a flaming table and such stuck out in a weird way, not an endearing one. That Brandi didn't seem to be winning over fans either probably didn't help matters.

If and when Cody lands in WWE, he's hardly going to get lost in midcard or tag team purgatory. WWE's not going to spend the cash to get him back and not use him prominently. It is not going to miss a chance to highlight that it has managed to swipe an executive vice president from its main competition.

And that's great for AEW.

The last thing AEW wants is for anyone, but especially not a big name, to leave the company, go to WWE and be a jobber. That Cody will go over and likely hang around in a main event scene with the likes of Roman Reigns would just lend credibility to AEW and what it is doing, giving off an air of legitimacy. Cody effectively left WWE as Stardust—his return after an AEW stint as a monster main eventer would be quite the rebound.

Not only that, but also having Cody as a subtle AEW advertisement on the biggest wrestling show in town would also mean more free roster space for the company. That means more potential time on broadcasts for other Superstars with long-term futures in AEW. Cody's segments, even late in his run, weren't outright bad, but they tended to feel tonally different from the rest of the shows. The awkward no-title stipulation, standing as a founder, different feel, it's all removed now.

We could speculate endlessly on why Cody has left. Maybe he didn't vibe with the direction in which the other founders were taking it (this wouldn't be the first startup to have that issue). Maybe the presence of guys like Danielson and Punk in the locker room left up-and-comers gravitating to them instead as mentors. Maybe he just realized he straight up likes the formulaic WWE approach best.

Whatever the reason, Cody's got the lineage and talent to excel anywhere. But while WWE will try to drum this up as a massive win in the pro wrestling war, there's an angle wherein AEW gets a win with it too. It's less obvious and won't have WWE's marketing and hype men beating fans over the head with it, but it will be there.

And given how this has developed unexpectedly, maybe in a few years we'll be talking about how Cody's coming back to AEW anyway. But at this point in time, the company losing a name as big as Rhodes isn't going to be the loss it would appear to be at face value.