Cody Rhodes leaves AEW

There was absolutely blockbuster news today when it was announced on social media that Cody Rhodes, one of the Executive Vice Presidents that helped launch All Elite Wrestling in 2019, has left the company. Rhodes posted a tweet to thank those involved with the company, and Tony Khan thanked Brandi and Cody for their contributions to the organization. Adding another layer to the entire scenario are reports that Rhodes has been in talks with WWE and could return to the promotion soon.

All things consider, this could have a ripple effect for both groups, depending on what Cody's next move is in the industry.

With a business as jaded as professional wrestling, there will be those that only take the negative from this situation, but again a lot of that depends on how much credit or lack thereof Cody will get for the launch of AEW. As I've written before, the reason that All Elite got off the ground was because the right pieces of the puzzle were in the right place at the right time. Cody left the WWE and created a buzz on the independent scene at the same time that The Young Bucks generated a major following on social media. All of that happened while Kenny Omega made headlines in The Wrestling Observer for an incredible series of match with Okada in New Japan. The Elite group used Ring Of Honor as a platform in America and drew packed houses for the Sinclair-owned organization. The fact that Cody and The Young Bucks had their contracts expire with ROH around the same time that Omega finished up with New Japan was an organic way for all of the alternative buzz outside of the WWE to be put under a major league banner with the investment from Tony Khan to launch another national promotion. Keep in mind, if Khan wasn't willing to fund the project, the spontaneous buzz of The Elite wouldn't have had the chance to go beyond the reach of ROH.

The pieces of the puzzle were in the right place at the right time, including Chris Jericho's exit from WWE. For the first year of its existence, Cody was the more or less the on-screen leader of the AEW movement. He turned down Vince McMahon's money to play a cartoonish gimmick and risked failure to spark something new for the industry. And, make no mistake about it, AEW accomplished that goal since the business is more compelling now than it was for the past two decades, particularly because free agents have another major league option. Rhodes gained a level of goodwill with the AEW audience, something he embraced when he smashed a Triple H throne with the WWE COO's trademark sledgehammer at AEW's first pay-per-view.

Early on, the promotion was still establishing itself and in some ways, Cody was a big fish in a smaller pond because while he's undoubtedly a tremendous in-ring performer, the roster at the time had many athletes that weren't known to a national audience yet so he was one of the bigger stars on the roster by default. He had the role as a top guy in an upstart promotion, and there's nothing wrong with that, but as the company expanded, specifically with more star power on the roster, his role definitely shifted.

This isn't meant as a knock on Cody at all, but CM Punk, Bryan Danielson, Jon Moxley, and arguably Adam Cole are bigger stars than he is, even within the scope of AEW so prehaps Cody saw the writing on the wall that his time as the prince of All Elite was nearing its conclusion so he wanted to exit the organization. Could that be an ego move? Sure, but not necessarily because it's very possible that Rhodes thought he accomplished all he could in AEW, especially if he didn't want a heel run.

The other side of the coin is that his departure was announced after it was clear that the audience wasn't going to embrace his rally promos on Dynamite. It's difficult to sell the audience Cody as a revolutionary when it looks like he was more concerned with being a reality TV star than being a pro wrestler. The possibility with far less sizzle for all of this is that maybe Rhodes wants to try film roles or reality television full-time to transition away from sports entertainment. That being said, in some ways, this does validate the criticism towards Rhodes because when bigger stars become a part of All Elite and he couldn't play the role of the face of the company, he took time away to film reality shows and then he left. When Brandi Rhodes wasn't cheered for simply showing up for a spot that was only designed to shoehorn her onto television, her and Cody left the company.

If Cody returns to the WWE is a completely different matter, but management might be willing to offer him big money just for the optics of the situation. WWE couldn't get CM Punk back into pro wrestling, even though he was under the WWE umbrella for the short-lived FS1 show. Daniel Bryan, FTR, Adam Cole, Kyle O'Reilly, and others saw a better future for themselves in AEW. If WWE signs one of the original AEW Executive Vice Presidents to a contract, it at least somewhat tilts the narrative that stars see opportunities in the WWE. All things considered, despite the attempted bravado of Cody smashing the Triple H throne or any of the promos about the pro wrestling revolution, it still shouldn't be all that surprising if Rhodes returns to the WWE. Bret Hart, Bruno, and many others made a comeback after a lot more animosity than the Rhodes situation. Granted, if Cody re-signs, it remains to be seen how he would fit into the current WWE landscape, but I would guess he would only ink a new deal for big money and it's doubtful WWE brass would be willing to invest that type of cash into another Star Dust run so he would probably have meaningful storylines on Raw.

All of that being said, the impact on All Elite without Cody Rhodes is rather minimal because as mentioned, bigger stars have signed with the group and the roster has much more depth now than it did in 2019. Obviously, Rhodes is one of the reasons for the company's success, his hiatus from television for the stints on reality shows already proved that the organization has enough star power even if Rhodes isn't on the roster. Either way, it will be very interesting to see what happens with this situation and it's another reason why the existence of All Elite benefits the entire industry.