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Jon Moxley lost the AEW World Championship to CM Punk in the main event of All Out 2022 in a back-and-forth contest where either man could've gained the upper hand. Ultimately, the support of Punk's hometown Chicago crowd proved too strong for Mox.
It was a much more competitive matchup than the previous bout between the two a few weeks ago on Dynamite, where Jon Moxley defeated The Straightedge Superstar in decisive fashion to unify the world titles.
Moxley gloated over his victory, claiming that the veteran didn't have it in him to last in a proper match with the Blackpool Combat Club member. But CM Punk was able to overcome his insecurities and injury concerns to sit atop the AEW mountain once more.
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Where does this leave Jon Moxley? Here are 5 reasons why the former WWE Superstar might have lost the AEW World Championship at All Out.
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5. MJF vs. CM Punk has better storytelling
Shortly after the main event title match, MJF made his long-awaited comeback, revealing himself to be the Casino Ladder Match-winning 'Joker' to a thunderous ovation.
The 26-year-old star has been sorely missed from AEW programming, and inserting him into the title picture immediately was the right move. The fact that it is shaping up to be against Punk is a brilliant strategy.
The two stars had an outstanding feud this past year, starting last November all the way to Revolution 2022. MJF's explosive promo after Double or Nothing, where he criticized Tony Khan and company, led to his temporary exile.
While Punk vs. Mox was an entertaining rivalry, it pales in comparison to Punk vs. MJF. There are so many layers to the story and so much history that they can draw from.
The impending match feels like a bigger draw at this point, therefore it makes sense to take the belt away from Jon Moxley.
4. CM Punk had to win in front of the Chicago crowd
"If Mox wins, we riot." That must have been the sentiment amongst the Chicago crowd during the main event title match. The Purveyor of Violence has been a great champion and even shocked the wrestling world when he decimated Punk in Cleveland, Ohio.
But since the rematch would take place in Punk's hometown of Chicago, fans wouldn't have been happy if Moxley managed to escape with the title. Punk is a hero among his people, and Tony Khan would have risked an insurrection if the title didn't change hands.
In the latest edition of Keepin' it 100, Konnan praised the build-up to the world title match and how the company incorporated Punk's long-time coach:
"I thought Ace Steel was tremendous. I've never even seen this guy, but I thought he was tremendous on the mic, showed great emotion, energized his former student and then f**king [CM] Punk went off which I love, Punk with an edge. I like angry Punk, it makes for better TV. This was great," Konnan said.
Jon Moxley didn't stand a chance after Ace Steel awoke the fire within CM Punk. However, it's a shame that this leaves Moxley of being known as a transitional champ.
3. Jon Moxley could be leaving for WWE
One of the first WWE Superstars to sign with AEW, Mox's acquisition was a huge coup for the new company, and he has since gone on to achieve a lot of success since.
However, Jon Moxley became a household name as Dean Ambrose in WWE as a Grand Slam Champion. Despite his success, he had a troubled relationship with Vince McMahon. But with the former CEO's shocking retirement, could we see Moxley eventually return to WWE? After dropping the title to CM Punk, there doesn't seem to be a clear direction on his character.
Judging by the current statuses of Roman Reigns and Seth Rollin, Triple H is gung-ho about The Shield. There's nothing left to prove for Mox in AEW, but he has unfinished business in WWE. Perhaps that's an itch that he might want to scratch soon.
With recent reports suggesting that Mox has signed another three-year deal with Tony Khan, a potential WWE return seems unlikely for the foreseeable future. But you never know.
2. Even the score with CM Punk to set up a rubber match
Punk and Moxley are now tied even with one victory apiece. This perfectly sets up a rubber match down the road if AEW chooses to revisit this feud.
With AEW Dynamite Grand Slam on the horizon, this could be the setting for the final showdown. If Jon Moxley loses again, the rivalry will conclude and Punk can go on to feud with MJF while Mox looks for brand new challengers.
1. Elevate the mid-card titles
Perhaps the biggest reason for Jon Moxley to drop the title is to challenge for the other titles. As a two-time AEW World Champion, he has been the main eventer for his entire AEW career. It's time for him to step aside and let other wrestlers shine at the top of the card.
That doesn't mean Mox has to regress. There are plenty of other challenges and championships. For instance, the Blackpool Combat Club could challenge for the AEW Trios Championship currently held by The Elite.
Jon Moxley could also go after Wardlow's TNT Championship or rekindle a rivalry with PAC for the All-Atlantic Championship. There's also the possibility of teaming up with best friend Eddie Kingston once again to enter the AEW Tag Team Championship division.
The possibilities are endless.
