CM Punk is relinquishing his All Elite Wrestling Crown after winning the title last Sunday at the Double or Nothing Pay Per View event. On Friday, he made the emotional announcement on the AEW broadcast.
CM Punk had won the belt for the first time by beating “Hangman” Adam Page. AEW President Tony Khan did not want him to step aside, but Punk realized he needed to when he was told surgery was necessary.
AEW announced that they would Start the process of naming a new champion this Wednesday on AEW Dynamite. The night will start with a Battle Royal, with the winner heading to the main event to fight #1 contender Jon Moxley.
The winner of that event will take on new Japan Pro Wrestling star Hiroshi Tanahashi in the June 26th Forbidden Door Pay Per View. Forbidden Door will be the first joint event between AEW and the Japanese Pro wrestling group.
For CM Punk, this is a huge disappointment. He had made his return to professional wrestling last August when he made his debut in AEW. His plan was to win the title and make this his third “Summer of Punk”. The star wrestler would have raised the profile of AEW as they continue to try and draw attention and fans away from the WWE. If Punk can get healthy, he will get a shot back at the title with the newly crowned champion from the winner of the June Pay per View.