Drew McIntyre defeated Cody Rhodes to end The American Nightmare’s second WWE Championship reign. Unlike the first time Rhodes was dethroned, he doesn’t necessarily have a clear path forward.
When John Cena took the title at WrestleMania 41, an arc was immediately apparent—that Cena would reign during his retirement tour, but whether it was at Survivor Series, his proper retirement match or—as it turned out—at SummerSlam, Rhodes was likely going to take the belt back and emerge champ and a little richer character for having overcome this adversity.
WWE has been explicit this time around that Rhodes doesn’t have a rematch clause and used it as the premise for him declaring himself the first entrant for the 2026 Men’s Royal Rumble. There’s a version of events in which Rhodes ties Stone Cold Steve Austin as just the second person to win three Royal Rumbles, then completes another hero’s journey at WrestleMania 41.
However, the second title reign exacerbated issues around Rhodes on top. While he’s a great babyface and had fans behind him for his first title chase in particular against Roman Reigns, WWE has struggled to book him as an engaging champ.
So what does lie ahead for Rhodes? There are a lot of possibilities with mixed potential. One thing that’s for sure, though, is Rhodes embarking on the Road to WrestleMania, 2026, and this larger next chapter of his career is going to be very interesting to watch.
A Heel Turn Isn’t Imminent
One concept for Cody Rhodes’s future would see him turn heel. Indeed, some fans have called for it since his time as a major player for AEW, suggesting a “Homelander” angle of him playing the nice guy but slipping further and further into truly villainous actions would be the best version of Rhodes.
While Rhodes certainly has the acting chops to make that kind of character work, he has been adamant about his desire to stay babyface for the foreseeable future, up to and including rejecting a heel turn purportedly suggested by The Rock last year.
Moreover, there is still gas in the tank for Rhodes as a babyface, particularly in appealing to younger fans. Indeed, after the low-key trauma of John Cena’s heel run, Rhodes is about as pure a white-meat babyface main eventer as WWE or the wrestling industry on the whole has at his disposal. Barring truly exceptional circumstances, the smart money is on Rhodes staying the course for years to come.
WWE May Need To Lean Into Mixed-Reaction Booking
While Cody Rhodes will remain a babyface, there’s a case for mixed reactions to justify some shades of gray booking. Indeed, looking back at John Cena’s heyday, part of the magic was in him remaining babyface despite working guys like Rob Van Dam, CM Punk, and Daniel Bryan who were moreover with a specific segment of the audience.
Indeed, Rhodes feuding with younger talents who come across as cooler or more cutting edge could allow him to flirt with similar lines to the ones that made Cena such a singular attraction who may not have appealed to every fan but did get every fan invested.
A Blood Feud Could Help Cody Rhodes Rediscover His Way
Cody Rhodes is at his best with a personal issue at stake. It’s a big part of why his feud with Roman Reigns and The Bloodline worked so well across a wide swathe of time—crossing lines of family legacy and tapping into personal heat in ways that superseded him just chasing the title.
Rhodes has had mixed degrees of success with these kinds of feuds away from The Rock and Roman Reigns. His reintroduction to WWE opposite Seth Rollins was largely excellent. His feud with Brock Lesnar was a bit lukewarm. Nonetheless, paired with someone who can meet Rhodes in terms of promo skill in addition to delivering heated bell-to-bell action can help remind fans that Rhodes isn’t just a polished top guy, but capable of delivering some of the most impassioned performances in all of wrestling.
CM Punk Vs. Cody Rhodes Could Benefit Both Men
One card AEW never got around to playing and that WWE has demonstrated great patience in holding off on is booking Cody Rhodes vs. CM Punk. WWE teased this issue more than once—in particular having the two go toe-to-toe in promos building to the Royal Rumble in 2024 before they were the last two men left in the ring. WWE hasn't gone quite so far, though, as to fully ignite the fuse.
For as polarizing as Punk is, it’s hard to deny that he’s a master of building heated feuds on screen. Consider his AEW issue with MJF, or his WWE beefs with Drew McIntyre and Seth Rollins in particular. The promos, the tendency to walk a line between works and shoots, and the pay-off matches by-and-large delivering have all contributed to Punk being one of the most bankable stars in modern wrestling, with or without a title in the picture.
Punk and Rhodes have exceptional, different, and complementary styles on the mic all but ensuring great wars of words. Even if both men were to remain babyfaces, it’s easy to imagine this pairing delivering a feud of the year that could headline multiple PLEs over a several-month period. Punk isn’t Rhodes’s only option, but may well be the best one to reestablish The American Nightmare as WWE’s top guy before revisiting more familiar issues with the likes of Roman Reigns, Seth Rollins, or Drew McIntyre.
Cody Rhodes is a veteran at this point in his WWE career and has already reached the tip-top of the business. There’s every reason to expect he’ll remain a key part of WWE programming for years to come. Staying the course as a babyface, staying away from the title for a bit, and finding the right style of heated feuds could make all the difference in ensuring his third world title reign sees him recapture his lost momentum.