Cody Rhodes left AEW a few weeks back after not signing a new contract with Tony Khan. Rhodes' departure led to speculation that WWE is interested in bringing him back. Despite rumors suggesting Rhodes' return to WWE may not happen, the creative team is allegedly already working on things for him.
The American Nightmare had a significant role to play in AEW's inception. The former EVP of AEW had been working without a new contract for quite some time. Unfortunately, he and Tony Khan couldn't come to a mutual agreement.
Dave Meltzer of the Wrestling Observer Newsletter noted that the creative team in WWE is working on plans for Rhodes' return. Cassidy Haynes of Bodyslam.net previously stated that WWE's talks with the former TNT Champion fizzled out. That's not the case, as per Meltzer:
"Whether officially signed, the reality is at this very moment creative in WWE working on stuff for him and unless it falls through it would be soon."
Cody Rhodes approached WWE when he was a free agent
The report said Vince McMahon was interested in getting a big name from AEW to jump ship. Rhodes likely approached WWE while working for AEW as a free agent:
"This would seem to indicate that Rhodes, when he was a free agent, went to WWE and it was well known WWE was badly wanting to take someone from AEW given all the traffic had gone in the other direction, and in particular are looking for anything that would help WrestleMania. So they made Rhodes an offer, and he wanted to leave."
It's not known when Cody Rhodes will make his WWE return, but the former Intercontinental Champion will be a big signing for the company. There's speculation that Rhodes might make his much-awaited return on the RAW after WrestleMania this year.