Bully Ray Addresses John Cena's Reference To AEW's Tony Khan On WWE Raw

The war of words between John Cena and Cody Rhodes entered its third-round last week on "WWE Raw." Toward the end, Cena proclaimed that while he makes empires for billionaires, Rhodes just steals money from their kids — an apparent reference to Rhodes' former boss, All Elite Wrestling CEO Tony Khan, who is also the son of wealthy businessman Shahid Khan. On "Busted Open Radio," WWE Hall of Famer Bully Ray shared his take on the allusion in question.

"Cody did help build some[thing]," Ray said. "AEW is not an empire, but AEW had, I don't even know if I can use the word 'has', AEW had the potential to be an empire. Between Tony's money and Cody's brains, there was so much potential there." 

While Ray and many others believe this reference centered on the father-son duo of Tony and Shahid Khan, some, such as his podcast co-host Dave LaGreca, initially thought it could be pointing to former WWE executives Stephanie and Vince McMahon, or even WWE CCO Paul "Triple H" Levesque.

"Vince McMahon paid Cody, not Triple H and Stephanie McMahon," Ray said in response. "Vince McMahon cut Cody's deal, so take that logic and throw it right out the door ... [Triple H and Stephanie] are in charge now, [but] Vince McMahon is the one that went to Cody Rhodes house with Bruce Prichard, negotiated the [WWE] deal, got all of Cody's wants, needs, downside, boom. Vince McMahon is the one who did Cody's deal."

Rhodes spent three years under the AEW banner as both an in-ring performer and an Executive Vice President. Following a meeting with then WWE CEO Vince McMahon, Rhodes agreed to re-sign with WWE in 2022, with his official return appearance coming against Seth Rollins at WrestleMania 38. This year, Rhodes heads into WrestleMania 41 with the Undisputed WWE Championship around his waist and Cena as his challenger.

If you use any of the quotes in this article, please credit "Busted Open Radio" with a h/t to Wrestling Inc. for the transcription.