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AEW fans and wrestlers were rocked by the breaking news that one of the promotion's founders, Cody Rhodes, has departed the company and is reportedly in negotiations to return to WWE.
All Elite Wrestling Executive Vice President Cody and Chief Brand Officer Brandi Rhodes, critical figures in the creation of wrestling's hottest promotion, are reportedly out after failing to come to terms with a new contract with the company.
CEO Tony Khan announced Rhodes' departure Tuesday morning via AEW social media accounts.
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It is a bombshell revelation even though it is common knowledge that Cody Rhodes has been working without a contract since the start of the year. It is still unthinkable that the former 3-time TNT Champion would walk away from a promotion that he helped build. What Cody's next step is truly anybody's guess right now, but in the meantime, let's analyze both the pros and cons of Cody's departure.
#3. Positive: Cody Rhodes leaving opens up a new main event spot in AEW
When All Elite Wrestling first started, Cody was undisputedly only of its top stars. But now fast forward 3 years later, owner Tony Khan has managed to assemble an enviable roster of wrestling talents that could feature in the main event of Dynamite at any time.
Beyond that, there are several hungry young talents that could elevate to a prominent spot and fill the void left behind by Rhodes. Young stars such as Darby Allin, Dante Martin, Ricky Starks, Sammy Guevara and Will Hobbs are the next generation of wrestlers that will lead the company forward. The new generation would look at this as an opportunity to cement their spot at the top of the card.
#3. Negative: AEW loses a top star and founding member in Cody Rhodes
Wrestling fans shouldn't quickly forget Cody Rhodes's contributions to Tony Khan's promotion. He indeed was one of the revolutionaries who helped will the company into existence. While AEW was still in its infancy, Cody was one of the company's top draws, becoming the first TNT Champion.
His legacy in All Elite Wrestling is secured based on these accomplishments alone. Love him or hate him, Cody's name will be intertwined with the history of the company and he should be recognized for that, at least. Tony Khan's promotion will move on regardless but Cody's departure is still a big loss.
#2. Positive: Cody Rhodes could rebuild his WWE legacy and prove that he is a box-office draw
AEW is where Cody Rhodes truly became a star. But back in 2016 when he left WWE, he was merely viewed as a mid-carder performing the doomed Stardust gimmick.
Cody has unfinished business in WWE and would want to rectify the mistakes that were made earlier in his career. Now that he has built a name for himself outside the company, perhaps he would be booked better this time around. Drew McIntyre is one such name who has returned as a bigger star than when he left. Cody could follow in his footsteps and become a big player in the WWE main event scene as well.
#2. Negative: Exposes the in-fighting amongst AEW EVPs
There have been rumors of heat between some of the Executive Vice Presidents in AEW (Cody Rhodes, The Young Bucks, and Kenny Omega) for over a year now. It’s gotten to the point where it was suggested that the EVPs are no longer on speaking terms.
Wrestling journalist Jason Powell while speaking with Wade Keller, said that there were issues among the executives. Cody, however, tried to shut down those rumors last year during a media scrum to promote Double or Nothing in 2021:
"I think people need to cling to something and as sexy as that story is, I talk to Matt and Nick every day, I talk to Kenny very often. I support their projects fully and they’ve been supportive of all my projects. We would not be able to put this show on the air.
Tony [Khan] is the man and he’s the boss, but we wouldn’t be able to put the show on the air if the four of us were not functioning as one team. Unfortunately, it’s not very sexy to say, but there is no truth to that…we will remain one team.” said Jason.
Cody Rhodes hasn't appeared with The Elite and has been more focused on promoting his own American Nightmare faction and reality television shows. It's clear that a rift has appeared between the founding members of the company. Cody's departure seems to confirm that. It will be interesting to see how the rest of the EVPs react to the news or if they will be putting out a statement after this.
#1. Positive: AEW's stacked roster can thrive without Cody Rhodes
AEW will remain with or without Cody Rhodes. The fallout from his departure might be immense, but Tony Khan still has a roster full of hungry, world-class talents that he can build his company around. Bonafide draws like CM Punk, Bryan Danielson, Jon Moxley, Chris Jericho and Kenny Omega will continue to push the company forward.
Newer signings such as Adam Cole, Keith Lee and Jay White will no doubt try to stake their claim to be considered amongst the top stars. That's not forgetting the future of the company such as MJF, Darby Allin, Sammy Guevara and reigning AEW Champion Hangman Page. Cody will be missed, but the company will be just fine.
#1. Negative: AEW could lose more stars to the WWE in the future
So what's next for Cody Rhodes? He is now rumored to be signing with WWE, which will definitely set the wrestling world alight. While many former WWE Superstars have made their way to Tony Khan's promotion, not many have made the other way around.
Back in the 90s, talents would constantly move back and forth between promotions. Cody's departure could open the doors for more AEW talents to consider their position within the company and entertain joining WWE in the near future. Who's to say the likes of MJF, Wardlow or Sammy Guevara wouldn't try their hand with Vince McMahon's company. This could truly ignite a wrestling war between the two companies.
