The return of American Nightmare Cody Rhodes from AEW to WWE is in no doubt spectacular, but his return is not like any returning WWE Superstar's comeback ever before.
Former stars returning to WWE isn't anything new, but Cody Rhodes' is extra special because of what it means behind the scenes. But before discussing the repercussions of Cody's decisions, a little background info would help set the tone of this grand return.
Who is Cody Rhodes?
Cody Rhodes – real name Cody Garrett Runnels Rhodes – is a second-generation wrestler, the son of WWE Hall of Famer Dusty Rhodes. Following in his father's footsteps, Cody started training in 2006 at WWE's developmental promotion – Ohio Valley Wrestling. He would grind his way throughout his career until he finally got the call-up to the main WWE TV programming. He would quickly rise to stardom as a reliable midcard performer, capturing a tag team belt within the first year of his career. Four years later, in 2011, Cody would win his first Singles belt – the Intercontinental Championship, which is seen within wrestling circles as a sign of a great worker.
However, Cody's career would not gain any more momentum, getting stuck in the midcard. In spite of his hard work, Cody Rhodes would never win a world championship in WWE. And through various gimmick changes and middling storylines within the company, Cody felt that his career would no longer progress with the company, deciding to leave WWE in 2016. Cody's frustrations over how he was booked and his frustrations on how he is portrayed with his characters on TV were among the reasons for his departure.
World Tour, All In, and AEW
Cody would then spend the next two years in the independent circuit, traveling to the UK, Japan, and around the United States. In the Japanese promotion NJPW and the American promotion ROH, Cody would play a pivotal role in the villainous stable Bullet Club. It was in this stable that he met Nick Jackson, Matt Jackson, and Kenny Omega, with whom he later would organize the independent event All In in 2018. All-In was an independent show that featured wrestlers from different promotions. The event was so successful that the four decided to start their own promotion, and with the financial backing of American businessman Tony Khan, founded All Elite Wrestling, or AEW.
Cody would spend the next four years in AEW, both as an executive and as a performer. His popularity has been growing ever since his Bullet Club days, and his status as a main eventer was just cemented in AEW. In this new promotion, Cody finally achieved what he couldn't in WWE – win a major promotion's world title. While with AEW, he would hold the TNT World Championship belt three times.
Cody's Return to WWE
However, Cody's hunger still hasn't been sated. Even though he sat on top of the male division in AEW as one of its top performers, Cody wanted more. As AEW progressed, the roles of the former Bullet Club members backstage lessened, and the executive title of Cody eventually became executive only in title.
When Cody's contract with AEW expired, Cody negotiated for more pay and greater creative control over the product. However, Tony Khan didn't give in to Cody's demands. This led to Cody knocking on Vince McMahon's door, and the WWE Chairman took the opportunity to snag one of the most integral pieces of AEW's founding back into the fold.
Cody Rhodes' Return Means AEW Still Has Something To Fear in WWE
From its nascent years, AEW has been heavily criticized by fans for taking in way too many former WWE superstars. This usually works well for these wrestlers, as in AEW they find new opportunities, get title shots when they couldn't in WWE, and get more screen time on TV. All of a sudden, midcarders and anyone dissatisfied in the WWE locker room had a second option. They could leave WWE for higher pay, better treatment, and a refresh in their creative characters.
However, the tables have turned. With Cody's return to WWE, it gives a signal to AEW's stars the same message. AEW midcarders and anyone dissatisfied with how they're currently being treated in the promotion knows that there's an opportunity in WWE. Much worse, it gives a signal to former WWE superstars now in AEW that if they're a big enough star, they can come back to WWE, and Vince will welcome them with open arms. And with Cody Rhodes, we know that no star is big enough for Vince McMahon. As The Million Dollar Man would famously say, Everybody's Got A Price, and in the wrestling industry today, money talks.
What WWE Needs to Do to Remain Competitive versus AEW
While Cody's triumphant return at WrestleMania 38 was treated with the pomp and circumstance it deserves, and while it was capped with an impressive outing between him and Seth Rollins, the icing on the cake was that WWE was willing to put over Cody Rhodes using one of its biggest stars. Cody beating Seth at WrestleMania catapults him to the top of the WWE World Title picture. And with a new unified championship on the horizon, Cody's potential in WWE is through the roofs.
So far, WWE has treated Cody's return as a big deal and has done everything correctly. However, WWE can't treat every AEW to WWE signing the same. Cody Rhodes is a big player and was treated as such. Future AEW signings might not get the same treatment.
Still, WWE has a chance to prove to AEW's locker room that they have a place to stay in WWE. If WWE treats Cody well in the next months, giving him compelling storylines where Cody has enough creative control, and they treat him well enough in terms of compensation, word will quickly spread. If that happens, then AEW will have to be more careful in protecting their biggest stars from poachers.
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