When news broke that Cody Rhodes was not only going to be on a very special episode of NXT but was actually going to open the show with a huge announcement, it sent the rumor mill ‘a spinning as to what on earth he could have planned.

Fortunately, fans didn't have to wait long to find out, as Rhodes got on television early on and had a lot to say about a lot of things.

“Yeet! So, NXT Universe, what do you wanna talk about? I would be lying if I told you that I ever thought it’d be standing in this particular ring. But, now that I am, something feels right, right? It’s the Rhodes, it’s Florida, we’ve spilled blood all over this state, we’ve had milestones and memories with each and every one of you, and it is in the vein of gratitude that I wanna cut right to it, I do indeed have an announcement,” Cody Rhodes told the NXT crowd.

“Actually, announcements. We have all been enjoying the Women’s Breakout Tournament, eight of them vying, single elimination, who’s gonna be the next Tiffany Stratton? Who’s gonna be the next Rhea Ripley? At the conclusion of that tournament, the men will also have a breakout tournament. And I kept hearing, when people found out that I was gonna be here tonight, I kept hearing people talk about a certain tag team tournament. You guys sound like you want that. Well, that’s good, because the Dusty Rhodes Tag Team Classic is also coming back. But one more, one more announcement. On perhaps the biggest night in NXT history, I have the privilege, Shawn Michaels has made it so, tonight, I am the special guest General Manager of NXT.”

Whoa, not only is Rhodes the new GM of NXT, at least for the night, but he christened not one but two new breakout tournaments to help highlight the up-and-coming members of the WWE developmental system? Wow, that's pretty cool, so much so that Ilja Dragunov, the current NXT Champion, decided to come out and congratulate Rhodes on his successes both in the ring and as a brand-new GM.

“Cody Rhodes, my apologies for interrupting you, but I couldn’t, I simply couldn’t pass up the opportunity to welcome you to NXT. You know, your announcements that bring hope to the future of the brand, they do, they create excitement, and breathe life into NXT, but besides that, I simply wanted to meet a man, this man, you,” Ilja Dragunov said.

“This man who brings this passion, this man who brings this energy, this man who brings the will to suffer for the entire WWE Universe. You are a man who fights with a fire, and pushes everything he does to the next level. And this is something I want to do, like you. This is something I promise to do. I promise to push this brand to the next level, with a fire that only the mat dragon can blow.”

Unfortunately, this USA-Russia lovefest couldn't continue on forever, as Dominik Mysterio and Rhea Ripley came out to request a match against the “Unbesiegbar” but the message was effectively delivered; Rhodes is in charge of the biggest NXT card of all time, and he's using it to make an impact.

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Cody Rhodes probably won't be sticking around in NXT forever.

So, with Cody Rhodes overseeing one of the most important episodes of NXT of all time, with multiple matches and future tournaments booked under his watch, could the “American Nightmare” return to an executive role once more, this time in the house his father helped to build in Orlando, Florida?

Well, based on Rhodes' comments in the press conference after Fastlane, it's safe to say he isn't looking to become a full-time fixture for the Performance Center now or potentially ever.

“My manager can tell you this, when I came back to WWE, I flat out told him, ‘I will never step foot in the Performance Center.’ The reason was, not my dislike of the Performance Center, he’s [Dusty Rhodes] everywhere in there. That’s hard. Then I ended up being in the Performance Center a month later to do medical. I went back on that. I just want to go…I have a specific announcement I want to bring and I’m excited to be there and see Shawn Michaels and what he’s done. Carmelo Hayes is one of my favorite people. Trick [Trick Williams]. It’s an impressive group. I don’t think that’s in the cards for me,” Rhodes said during the Fastlane press conference via Fightful.

“Here’s the thing, I have probably told you guys a bazillion things and somehow ended up in that exact spot. I don’t know. Dusty told communication. He taught promos, he called it communication. No one really filled that spot after he left. I always thought somebody like Mick Foley would fill that spot. Someone who has been there and did it. I’m not going to teach them anything. I’m going to be there with them and just enjoy it and have fun. It’s outside my comfort zone, I’m genuinely terrified. I’m a little terrified, but we’re in a crazy time for our industry and I’m excited for my announcement and to be able to bring that to the NXT universe, sports entertainment fans, and wrestling fans.”

Could Rhodes' time as NXT GM become a breakout hit, leading to Paul “Triple H” Levesque pulling the trigger on a full-time transition into the role? Sure, stranger things have happened, but for now, it seems like the promotion's more concerned with Rhodes finishing his story, whatever that may look like.