The wrestling world is still waiting to see Cody Rhodes will end up returning to WWE.

Last month, Cody and Brandi Rhodes parted ways with AEW, shortly after their contracts with the company expired. Cody revealed in January that he was working without an actual contract. Aside from wrestling, Cody also served as an Executive Vice President in AEW, and Brandi was the company's Chief Brand Officer.

Earlier this week, Ringside News reported that the 36-year-old Cody was on "the internal documents" for the WrestleMania 38 event. This year's show will be held on the Apr. 2-3 weekend at AT&T Stadium in Arlington, Texas.

But in an update, Ringside News now reports that The American Nightmare "is off any internal documents" for WrestleMania 38. It remains to be seen if the two sides will end up reaching an agreement, but nothing appears to be close at this time.

WrestleMania season would be an ideal time for Cody to make a return to WWE, but the clock is ticking on Vince McMahon and company to reach an agreement. A world-class talent like Cody would be a valuable addition to any company, and he shouldn't be on the market much longer.

RELATED: Backstage Update On Contract Talks Between Cody Rhodes & AEW

Cody Rhodes in the ring

The second-generation wrestler requested and received his release from WWE in May 2016. Cody had grown discontent with his "Stardust" gimmick and wanted to explore new opportunities. He went on to compete for other top promotions in New Japan Pro-Wrestling, Ring of Honor, TNA/Impact Wrestling and of course AEW.

WWE creative was reportedly working on things for The American Nightmare, but there has been a change on that front, and Cody's status with WWE remains uncertain.

WWE Shouldn't Waste The Opportunity To Land Cody

Cody Rhodes would be a valuable addition to the WWE roster. Vince McMahon gutted a significant portion of the roster by conducting a long series of releases, and his promotion could certainly use a talent of Rhodes' caliber. If WWE doesn't sign the 36-year-old, they'll have to see Cody enjoy success elsewhere.