This is the big news on the eve of Extreme Rules. Cody Rhodes is the son of WWE Hall of Famer Dusty Rhodes and the younger brother of WWE Superstar Goldust. He has been with WWE since 2007, winning the IC title twice and the Tag team championship six times during his time on WWE.
The younger Rhodes has not yet shared his reasons for requesting WWE release him but presumably will once WWE gets back to him on that. WWE likely won’t decide until after Extreme Rules, which is tonight. Rhodes has been performing as Stardust since 2012, who isn’t on the card for Extreme Rules. Neither is his brother Goldust on that note (though in Goldust’s case he is part of a new tag team with R-Truth).
As for why Cody wants to leave, one can only speculate. For those who might not know, the idea for him to take on the Stardust persona was his late father’s. Stardust never really took off with WWE fans since the character was introduced. WWE really tried to make the character work but it never built a following as either a face or a heel. His biggest moment was his involvement in a tag team match involving Arrow star Stephen Amell. To make matters worse, he’s mostly been in the undercard since he went solo as Stardust.
I think Cody’s accepted the fact he’s not gonna be able to continue his run in WWE as Stardust and wants to move on. He’s 30 years old and his wife works as a WWE ring announcer though in the case of the latter, it’s not known how or if his departure will effect her career wth the company. It certainly won’t effect his brother’s though Goldust is obviously aware of what’s going on behind the scenes.
The only person who can really comment is Cody Rhodes himself. Once more info is released, I’ll recap it here.