Will CM Punk return to AEW?

Never say never in the pro wrestling business.

When CM Punk publicly buried The Elite, Adam Page,and AEW as a whole while Tony Khan sat next to him like a deer in the headlights at the now-infamous All Out media scrum, many rightfully thought that was the end of his tenure in the company. That notion seemed definite when The Wrestling Observer's Dave Meltzer reported that Punk, who worked only a year of his All Elite deal and required surgery to repair a torn triceps he suffered in his match against Jon Moxley at All Out, tried to negotiate a buyout of his contract. At the time, it didn't make much sense since there wouldn't be much of a reason for Tony to pay him just to leave the company when he could simply release Punk from his contract without the hefty price tag of the remainder of the deal.

There was time to work out those details and more importantly to let things cool off between everyone involved in the backstage brawl that caused a lot of negative publicity for the company. As I wrote at the time, Tony Khan and All Elite Wrestling as an entity had a certain level of goodwill with the audience at the launch of the organization since the existence of AEW allowed the fans an alternative to the WWE. More specifically, fans knew that Tony Khan was already a member of a billionaire family, he didn't need to invest in a wrestling project to attempt to gain financial security. It would've been much easier for Tony to buy an island and drink ice tea on the beach, but he invested into pro wrestling as a passion project. There are pitfalls to that, some of it materialized throughout 2022, but the point being, the fans knew that the Khan family funded a sports entertainment venture because Tony had as much enthusiasm for the business as the audience.

That being said, the novelty of a new promotion naturally wears off and the group must stand or fall on its own merit. The substance that went along with the initially sizzle is what could allow for longevity. Credit where it's due, All Elite established itself as a national commodity within just a few months, which is something TNA could never truly obtain during its tenure on Spike TV. One of the barriers to entry in the sports entertainment business is the capital needed to truly compete on a national level, which is something that TNA rarely committed to during its existence. It might've worked in Memphis regionally, but the shoestring budget with months of television taped in front of the same fans at a theme park didn't allow for the organization to expand, or more importantly determine if the product could draw paying customers.

On the flip side, while attendance can vary depending on the city, All Elite Wrestling proved itself as a commodity that can draw money on the road and on pay-per-view. Neither of those aspects of the business are guaranteed either, especially at a time when pro wrestling content is $5 a month or free on Peacock. Clearly, AEW has an opportunity to establish itself as a long term entity in the sports entertainment business, but the argument could be made that some of the product missed the mark, particularly during 2022 that hindered that process for the organization.

Pettiness in interviews and temper tantrums on social media are bush league, and not the way serious professionals that want to draw the most money possible do business.

That's why CM Punk's response to Dax Harwood's post on Instagram generated some headlines among the pro wrestling rumor mill. One half of FTR mentioned on his podcast that he hopes that Punk and The Elite can work things out to do business again, and Punk's response seemed to imply that he agreed. Granted, Punk has the incentive that the most money he's going to make is under contract with AEW, but even if he decides to retreat to his couch and play SEGA for the rest of his career, he won't be in a bread line. Taking his big money years in the WWE into account, along with the $1 million he made for two fights in the UFC, Punk has financially security. Still, leaving big money on the table is almost always foolish, especially when he's still able to collect it.

Some silly optimists might claim that Punk wants to "make things right" with All Elite Wrestling, but make no mistake about it, if Punk wants back in the door of AEW, it's because it's what's best for Punk. The real-life Phil Brooks is only content when the spotlight is on him and he gets what he wants so don't expect that to change now.

However, that doesn't mean that there isn't potentially big business to do done if Tony Khan can mend fences between all parties involved.

Quite frankly, The Elite and CM Punk should absolutely bury the hatchet and work together to draw big money. It would take a negative that made the entire company look minor league and use it to draw the most money possible. You might ask why should anyone in this scenario be willing to do that?

The bottom line is, because that's what true professionals do and the reason for that is because the entire point of the pro wrestling business, especially on a national level is to draw money. If someone wants to let their ego determine who they wrestle based on who they personally get along with, they can be a weekend warrior at the local VFW since that's where that mindset belongs. When major money is on the line, it's about the ability to generate that revenue, not who's on your Christmas card list. WCW and TNA are examples of when personal agendas prevent the right business decisions being made, and we know where both organizations are today.

If Punk returns to tag against FTR against The Elite, it will draw the biggest buy rate in the history of the company. If Punk has a grudge match against Adam Page, it will draw another big number. it might be a cliche, but it's also true, personal issues draw money. CM Punk vs. AEW is a narrative that fans, regardless of what side of the argument they agree with, can get invested in as the story builds to a pay-per-view. As a promotion, All Elite, at least from a numbers perspective has plateaued. That doesn't mean the organization is in danger, but it allows for some uncertainty about the future. CM Punk might be a selfish jerk, but the controversy that was created from the backstage fight would definitely boost numbers if he had another stint in the organization after he heals from the triceps injury.

The Wrestling Observer's Dave Meltzer reported that Chris Jericho claimed behind the scenes that he will make sure Punk isn't brought back to the company, but I take that with a grain of salt. Jericho is a pro that knows the importance of drawing money and unless he reached a point in his career where he wants to make as much money as possible in a short about of time without the big picture in mind, it's doubtful that he doesn't see the value that the heat from the backstage fight brings to the table. Much bigger stars than CM Punk or The Elite put personal grudges aside to do business. Bret Hart worked with Shawn Micheals, the WWE inducted Warrior into the Hall of Fame, Bruno agreed to return to the company, and Vince McMahon even offered Eric Bischoff a job.

But will a CM Punk return to AEW actually happen?

I sincerely hope I'm wrong, but I don't think The Elite would be willing to work with Punk again. It's doubtful they'd want a bigger star to eclipse them in the promotion that was launched around them. Don't get me wrong, The Bucks and Omega had success with the DYI approach for All In in 2018, but weekly national television is a completely different entity. Despite Adam Page's comments about not taking advice, sometimes the lessons learned throughout the history of pro wrestling are correct. Sometimes the veterans actually know better and they are times to listen to them. Personal issues draw money, but it will be interesting to see if anyone in AEW is willing to capitalize on it.

Never say never in the pro wrestling business.