Steve Austin has already gone on record saying a match with Brock Lesnar at WrestleMania 32 won't happen and there appears to be a reason why Austin downplayed the idea so quickly after stirring it up.
Vince McMahon was said to be very upset with the conclusion of the Stone Cold Podcast with Paul Heyman, according to the Wrestling Observer.
Vince did not know Austin and Heyman were going to do the bit they did at the end and was upset because of how hype was stirred up over a match that isn't happening. Vince was upset because the company can't deliver on that match. Vince told Austin to address the issue quickly so the hype would die down.
In addition to that, the Observer also reported that even if Austin wanted to come back and wrestle next year that McMahon and the company wouldn't let it happen, due to Austin's injury history. Here's what Dave Meltzer had to say on the subject on his podcast:
“Even though Austin has always entertained that if everything goes right, and this is as right as it’s going to go — but there’s just fear that… There’s a reason he hasn’t wrestled. And, I guess at the end of the day, Vince isn’t willing to take that risk. There’s just the fear that if one of these guys, with known, serious injuries gets hurt, at the age that they’re at because of what happened to Jerry Lawler and things like that, there’s just a lot of fear on Vince’s side about that type of a thing.”
Austin hasn't wrestled since 2003, as his 1997 neck injury and other recurring issues with his neck, back and knees caught up with him.