In a shocking turn of events, stemming from an investigation that took place this weekend following another incident at All In, All Elite Wrestling (AEW) officially announced on Saturday that they had parted ways with the wrestling icon, CM Punk.

This unexpected development was confirmed through an official statement released by AEW on their social media platforms, revealing that Punk’s contract had been terminated with cause, effective immediately. Tony Khan, the CEO and President of AEW, further confirmed the termination, marking the end of Punk’s tenure with the company.

The termination decision followed a comprehensive weeklong internal investigation into an incident that occurred backstage at AEW’s All-In event in London on Sunday, August 27. The AEW Discipline Committee, in conjunction with external legal counsel, conducted a thorough examination of the incident. Subsequently, they presented their unanimous recommendation to Tony Khan, advising the termination of CM Punk’s contract with cause.

Tony Khan expressed his gratitude for Punk’s contributions to AEW and acknowledged the disappointment this news may bring to fans. However, he emphasized that the decision was made in the best interests of the various individuals who play essential roles in making AEW’s shows possible, including talent, staff, venue operators, and countless others behind the scenes.

Related: AEW All-In Altercation: Fallout and Speculation Surrounds CM Punk and “Jungle Boy” Jack Perry

The backstage confrontation between CM Punk, Jack Perry, also known as Jungle Boy, and others from previous events where Punk got mixed up with members of The Elite, continued to reverberate throughout the wrestling world, casting a shadow over AEW’s historic All-In event. Despite the record-breaking success of the show, the ongoing controversy surrounding Punk’s behavior and the subsequent investigation prompted AEW to take decisive action.

Reports circulating on Monday presented varying accounts of the incident and its aftermath. According to Bryan Alvarez, one narrative suggested that both CM Punk and Jungle Boy had been suspended by AEW, pending the outcome of the investigation. As details emerged, it appeared that Punk may have played a significant role in instigating the altercation, leading to his firing.

Punk was set to take part in All-Out this weekend. He was set to be in the main event. That last match has now been replaced by Jon Moxley, who will take on Orange Cassidy. It will be fascinating to see how fans react to the news and with AEW trying to put on a show in Chicago 24 hours after firing the city’s somewhat adopted son.

Punk’s departure from AEW marks the end of an era, with the company opting to move on from a wrestling legend and top merchandise seller. This decision underscores the gravity of the backstage issues that marred Punk’s tenure and ultimately led to his termination. Despite the accolades and recognition he garnered as a wrestler, Punk’s continued involvement in backstage problems became untenable, forcing AEW to make a difficult but necessary decision to ensure a harmonious work environment for all involved.