What if CM Punk shows up at AEW All Out?

When AEW puts on All Out in Chicago, one thing is for certain: expectations are high. All In—the precursor to AEW as a whole—sold out and put on a show that hardcore fans generally loved. Double or Nothing—the first officially branded AEW event was generally considered even better for its great matches and storytelling, shrewd pacing, and fun surprises—not least of all the unexpected debut of Jon Moxley.

So, the pressure is on for AEW All Out, but AEW seems up for that sort of challenge thus far. Booking a solid card and putting on great matches seem well within the company, its bookers, and roster’s capabilities. But what about the surprises?

A surprise debut like Moxley can’t be created at will. There was a confluence of factors, starting with Moxley’s decision not to re-sign with WWE and being cagey about where he was going to show up next. To be frank, there aren’t many free agents of Moxley’s star power available for AEW, or any other promotion to recruit, let alone land a deal with.

But there is CM Punk.

It may remain a long shot, and Punk has certainly denied it on social media, but this article considers what might be if Chicago’s favorite son were to make his return to wrestling and debut at AEW All Out.

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5. A different introduction from Jon Moxley

Jon Moxley had a memorable introduction to AEW, but we can expect a different look if CM Punk joins the company.

If CM Punk were to appear at AEW All Out, the first place where many fans’ heads might go is that he would make an appearance similar to Jon Moxley. He’d show up during the main event segment—maybe after the match, maybe during it—to insert himself into a program with one of AEW’s top names, if not immediately into the title picture.

Punk’s placement on the card there would make sense, and there is a logic to saving what would probably be the biggest pop of the night for the end of the show, so nothing else has to follow it. However, if AEW were to book Punk in such a similar spot, it would risk making that type of debut feel less special, and setting up an unrealistic expectation that the company will have a surprise of that magnitude to end every show. If Punk were to show up at AEW All Out, we could expect him to appear at a different point in the show, or at least in a different capacity from attacking one or more of the wrestlers working the last match of the card.

4. In the main event mix

CM Punk is too big of a talent to be denied a spot toward the top of AEW if he were to sign.

AEW is steadily developing a strong core of guys who can work at the top of the card. That list includes Chris Jericho and Hangman Page who will compete to be crowned the first AEW Champion. It also includes Jon Moxley, Kenny Omega, and Cody Rhodes, not to mention that tag teams like The Young Bucks, The Lucha Bros., and The Dark Order.

That’s a crowded picture and, as noted earlier, we shouldn’t expect CM Punk to debut for AEW by getting involved in the AEW All Out main event match or its direct aftermath. We can anticipate that Punk would be treated as a big deal, though, and instantly be in the main event conversation. Punk’s star power and the abilities he demonstrated when last active in pro wrestling would justify that placement. Moreover, it’s hard to imagine Punk agreeing to come back for anything less than a top spot, making good on the potential he felt went undervalued in WWE.

3. He doesn’t necessarily get physical

AEW could build anticipation by having CM Punk not get physical in his first appearance.

When Jon Moxley debuted for AEW, he immediately got physical with Double or Nothing main event winner Chris Jericho, before more fully and violently engaging with Kenny Omega. It’s certainly possible that CM Punk would have a similar approach to his debut, and the Chicago crowd would no doubt explode if the Straight Edge Superstar were to hit a Go To Sleep on anyone at all. However, AEW may also be patient enough to hold off on the physicality.

Punk getting back into the wrestling business at all would, in and of itself be a huge score for AEW. It’s entirely possible that if he showed up at AEW All Out, it would be for a more understated performance along the lines of cutting a promo, walking out to shock the crowd without doing much of anything, or even just being caught on camera in the front row. In these ways, AEW could continue to build buzz with the confirmation Punk was at least in attendance, and the ongoing intrigue about whether he would actually sign with AEW and under what terms.

2. A program with Kenny Omega

CM Punk vs. Kenny Omega is a dream match AEW would have to book if it's available to them.

It would not be out of place for CM Punk to find himself feuding with the likes of Chris Jericho, Jon Moxley, or Cody Rhodes as nationally known names AEW has already established as top tier talents. However, Punk has already worked these guys in WWE, and if he were to make the choice to sign with AEW, we have to assume that more than money or ego, Punk would have an interest in feeling creatively fulfilled and physically challenged working with top talents he hasn’t encountered before.

Punk could have some very interesting matches awaiting him opposite the likes of Pentagon, Rey Fenix, or Hangman Page. But the most desirable match for Punk and the fans would have to position him opposite Kenny Omega.

AEW may not book Punk vs. Omega right out of the gate, particularly when Omega already has unfinished business with Jericho and Moxley. We have to believe that within a year’s time, though, AEW would get to booking this legitimate dream match. Let's wait for AEW All Out to check what happens finally.

1. A hero’s welcome

CM Punk would get a reaction beyond compare from the fans in Chicago.

When it comes to wrestlers getting a hero’s welcome in their hometown, CM Punk and his relationship with Chicago fans rates right up there with the most powerful connections in wrestling history. Anyone in doubt need look no further than Money in the Bank 2011. It was far from the only time when Punk got a huge response from the Chi-Town faithful, but it demonstrated a situation in which he was booked into a white-hot angle, and the crowd went positively nuclear in backing him against John Cena.

While quite a few fans are hoping for Punk to show up at AEW All Out, or even going so far as to predict it, Punk has outright denied any rumors that effect. He could be working the hardcore fans on social media, but there remains the possibility that he is simply being straight up about not coming back. If he were to actually come out and particularly in front of his hometown following, he may well get the biggest reaction of his career.