According to PWInsider, the WWE and Cody Rhodes have had discussions in the past few days.
The WWE is reportedly considering signing Rhodes to a deal much like their Legends contracts, which would allow WWE to sell Cody Rhodes merchandise as well as other items with his likeness.
They haven't discussed bringing Cody Rhodes back as a wrestler, which isn't surprising. Just a month ago, Rhodes asked for his release from WWE citing creative frustration. He already has several high profile indie matches booked for this year, and he's also expressed interest in acting.