What if CM Punk goes to AEW?

CM Punk had one of the ugliest and most public splits from WWE of any Superstar. Some of that comes down to his stature in the company, as he was probably one of the top five full-time stars at the time he left, and purportedly lined up to face Triple H at WrestleMania, only to wind up going home after the Royal Rumble. Punk and WWE have since engaged in legal battle, largely related to a tell-all podcast interview Punk offered to Colt Cabana (whom he also later had differences and legal issues with).

Punk has suggested that he is retired from wrestling. However, he did make an appearance over All In weekend to do an autograph signing in his native Chicago. Then word got out more recently that Punk may have made one or more small time wrestling appearances since departing WWE, showing up in a mask or under a hood, but heavily hinting that it was him.

All of this leads to the question of whether Punk could sign with AEW? A part of the logic of him retiring after he left WWE seemed to have been about him not taking a step down to smaller stages, but between TV deal rumors, millionaire backing, and buzz, AEW has the feel of the closest thing WWE has had to competition since WCW. This article speculates what it might mean if CM Punk goes to AEW.

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#5. The masked man

CM Punk's alleged new masked gimmick may not be a one off experiment.

Footage has come out of CM Punk allegedly making appearances for smaller wrestling promotions since leaving WWE in 2014. Each appearance involved a masked or hooded man, which suggests that, while Punk was publicly shunning wrestling, he actually still had enough love for it to keep himself involved.

If Punk does appear for All Elite Wrestling, it may be that the buzz around his masked antics is simply setting up a foundation for things to come. Based on All In, AEW seems catered toward the hardcore wrestling fan, rather than the more casual base WWE aims for.

As such, it wouldn’t be unreasonable to play up the masked Punk angle to build anticipation in increasingly high stakes circumstances, before the Straight Edge Superstar finally does show his face to the audience.

While there’s some questionable logic behind keeping a top shelf star like Punk hidden, this angle would both have an old school feel and given the set up, have the unique benefit of combining masked man intrigue with heavy hints as to the payoff right out of the chute.

#4. The champion

It's hard to imagine CM Punk not capturing gold if he signs with AEW.

It’s hard to imagine CM Punk coming out of retirement for anything less than a top spot. He’s known to be financially set and made no bones about his creative frustrations with WWE. Getting pushed on top of AEW could stroke his ego, yes, but also demonstrate that AEW is taking him seriously and allow him a role that would be given time on TV and the spotlight that comes with being the most featured star in a promotion.

Of course, in addition to satisfying Punk himself, the guy is a recognizable star who walked out on WWE, meaning that he has the credibility to match Chris Jericho who turned down a new contract from Vince McMahon, and Kenny Omega whom WWE reportedly bent over backwards trying to sign.

Punk as the champion and face of AEW would go a long way toward defining the fledgling company’s identity and reinforcing the idea that they’re a promotion to be taken seriously.

#3. Working heel

CM Punk was often at his best when he turned his back on the fans.

CM Punk spent more time as a face than as a heel in WWE, but that’s not necessarily because he was better in a good guy role. Despite his relatively small size making him a natural underdog, and his straight edge sensibilities making it easy for WWE to push him as a role model, there’s a real argument to be made that Punk was only a face because he was so good in his heel work that fans wouldn’t boo him.

Working in AEW could press the reset button for Punk as he re-embraces his more villainous side. He’s a wicked heel promo, and while he spent much of his WWE run portrayed as an upstart, in AEW he could readily transition to more of a veteran legend spot and become the mountain for less established faces to overcome as they work toward their rises to full blown stardom.

#2. AJ Lee in AEW

If CM Punk winds up in AEW, would his wife be long to follow?

CM Punk isn’t the only WWE Superstar to finish up contractual obligations with WWE and then announce retirement, despite still more or less being in his physical prime. Punk’s own wife AJ Lee worked through the end of her contract, and under much less dramatic circumstances, but nonetheless seemed to call her in ring career to a premature end.

Both Punk and Lee came to wrestling as fans first, who chased their dreams all the way into WWE, and then into WWE’s upper ranks. Especially after several years away from the business and the limelight, it stands to reason that their fundamental love of the business would lead them back to it.

Whereas coming back to WWE would mean swallowing their pride and showing up on in Impact or Ring of Honor would feel a downward trajectory, going to AEW would suggest a truly alternative path that would make sense for both of them.

#1. CM Punk vs. Cody Rhodes

In AEW, Cody Rhodes would make a worthy opponent for CM Punk.

If CM Punk were to show up in AEW, he’d have quite a few fresh opponents awaiting him, with the promise of some stellar feuds on the mic and stellar action between the ring ropes. One issue we can all but guarantee that the Straight Edge Superstar would take up would be a rivalry with Cody Rhodes.

Since leaving WWE, Rhodes has enjoyed marked growth as a character, and particularly as a promo man. While pundits have mixed opinions of his ring work, he has undeniably garnered a lot more big match experience since leaving WWE and can be taken seriously as an upper card singles threat for his American Nightmare character.

Punk and Rhodes had incidental contact in WWE, but in AEW, they’d each be top tier stars and get a proper showcase for a war of words in particular, and to blow it off in the ring with a better match than they ever had a chance to put on in WWE.