Report: Reason CM Punk Has Yet To Be Released By AEW Revealed

CM Punk's future with All Elite Wrestling has been in doubt since the All Out pay-per-view but there has still been no official confirmation of the two-time AEW World Champion's exit from the promotion. Punk and AEW are known to be in talks over a contract buyout and have been for some time.

In an update, Dave Meltzer reported in the Wrestling Observer Newsletter that Punk was under contract with AEW as of last weekend. He is still being paid by the promotion and has not been released because of a hold-up in the buyout on AEW's side.

Punk is reportedly disconnected from AEW, though, and he is "ready and willing to move to his next project."

There was speculation after The Elite mocked Punk and Ace Steel on the November 23 edition of Dynamite that it could be the beginning of an angle that would bear fruit when Punk is healed from his torn triceps. There is "no chance" of The Elite and CM Punk working together, however, according to those close to the situation.

Punk had been All Elite Wrestling's top star but he was suspended by the promotion following his involvement in a backstage fight with Ace Steel, Kenny Omega, and The Young Bucks after September's All Out pay-per-view. The fight occurred after Punk took shots at The Elite, Hangman Page, and Colt Cabana during his post-All Out press conference.