CM Punk debuted for All Elite Wrestling on August 20, 2021 at AEW Rampage: The First Dance, after seven years away from professional wrestling. He made his in ring return September 5th, 2021 against Darby Allin at All Out in Chicago, Illinois. After feuds with Eddie Kingston and Maxwell Jacob Friedman (MJF), Punk would go on to win the AEW World Championship from Adam Page at Double or Nothing on May 29, 2022. He lost it to Jon Moxley on August 24 on "Dynamite" but won it back from him on September 4 at All Out. However, after the event, some backstage tension lead to Punk being suspended. He then returned in June 2023 for another run with the company until August 2023 before having another altercation backstage that again, resulting in him being suspended which then eventually lead to his firing. On September 2, AEW owner Tony Khan announced that CM Punk was officially fired from AEW and not long after, rumors about him returning to WWE began emerging.