Don't look now, but the pro wrestling rumor mill surrounding WWE and AEW buzz continues to match the sweltering summer temperatures.

Fans could have predicted some of this, of course, with SummerSlam on approach. It isn't uncommon for the match card and items surrounding the second-biggest event of the year to dominate the mill.

But things have escalated even compared to the norm because CM Punk's name is all over the rumor mill—and not just because of his upcoming matchup with Drew McIntyre.

Several major free-agency situations, which could massively impact both companies, need to be monitored in the coming weeks and months.

So, to help fans stay informed, here's the most notable buzz and whether fans should buy or sell on each.

Punk Already Seeking New Deal?

Fans can be forgiven for thinking they had heard the last of any CM Punk contract speculation for a long time.

Whoops, apparently.

According to PW Insider (h/t Randall Ortman of Cageside Seats), a contract renegotiation is already underway, with one source offering this explanation: "New World. Huge numbers. Merch and socials."

In other words, the Punk that WWE brought back has proven himself not only as a locker room presence, but as still boasting that massive numbers-moving power that helps the company.

So naturally, now that the proof is there, WWE is comfortable being approached and/or approaching Punk about tweaking some numbers, if not some years, too.

And given how things have gone with Punk's feud against McIntyre, which has yet to feature a match, it's probably the easiest buy of the month.

Verdict: Buying

Nix Jax Headed for Reward?

Nia Jax is back in the spotlight, to the point of getting a championship match against Bayley at SummerSlam.

According to WRKD Wrestling (h/t Ortman), Jax sits in the spot she's in now because of "her continuously improved performance," which will lead to rewards.

This one is a sell—with a catch.

Most fans would probably agree that Jax has improved and been more enjoyable during this tenure with the company.

But this just feels like something WWE would leak ahead of a major event in an attempt to swerve fans. If the plan is for Bayley to win, creating a super-predictable result, this sort of "leak" could blur the lines a bit and make things a little more interesting.

Verdict: Selling

Big Name Headed to Free Agency?

It sounds like fan specualtion around Bobby Lashley's future can end soon.

According to PW Insider (h/t Ortman), Lashley is likely to test free agency when his contract expires, which is presumably soon. Also, apparent talks with WWE just haven't been all that appetizing.

It's a buy on all accounts. To put things in perspective, Lashley has been just another guy on the main roster for a while now, most recently working some live events against Karrion Kross. It's a far cry from the days when The Hurt Business stable dominated the show.

Right now, WWE just doesn't have a lot of wiggle room for top guys in the main title scenes and the stable side of things already has two dominant players. It totally makes sense for Lashley to look at the open market, especially when somewhere like AEW might be willing to pay wild money and give a prominent spot to such a high-profile wrestler.

Verdict: Buying

Malakai Black Contract Confusion

Perhaps the most confusing contract situation of modern times has centered around that of AEW's Malakai Black.

Black, given his past performances as Aleister Black and the fact he's married to WWE's Zelina Vega, constantly comes up in speculation as someone who could switch promotions.

But the how is tricky. According to Rajah's Jeff Whalen, some within AEW believe Black's contract runs through the end of 2024. But also, the company might have triggered option years that would mean he's with AEW through 2026.

Let's call it a sell on the 2026 part, at least. Maybe those option years were picked up for one reason or another while Black missed time, sure. But if he wants out before then, it's hard to imagine AEW and its deep roster will hold him there on optional years.

Considering Black signed in the summer of 2021, his being stuck in the same deal until 2027 seems a tad much.

Verdict: Selling

Keith Lee Latest

Speaking of AEW guys who used to be with WWE and could perhaps make the jump again, here's another:

Keith Lee.

According to WrestlePurist's Ibou (h/t Ortman), Lee's deal will expire soon.

Based on timing (similar thing with Black above), it makes for an easy buy. Lee debuted in early 2022 after his release from WWE late in 2021. He hasn't been seen much in official matches for most of 2024.

Given the landscape of both companies, it makes sense that Lee might try to go back to WWE once his deal is up, given the lack of usage in AEW. More importantly, the WWE that fired him after giving him that silly Keith "Bearcat" Lee gimmick is no more.

Verdict: Buying