For over a year, rumors have circulated regarding a possible CM Punk vs. "Stone Cold" Steve Austin match. The speculation began after Punk launched what is believed to be a legitimate shoot promo on a June, 2011 episode of Raw. During the promo, in which Punk referred to his non-kayfabe intention of leaving the WWE, he was wearing a "Stone Cold" t-shirt.
The promo lead to the company placing the WWE Title on Punk and allowing him to carry the strap through the entirety of 2012 thus far. Punk has been the WWE's way of appeasing wrestling purists while also allowing John Cena to main event PPVs and win over younger audiences.
Punk has been vocal about his desire to wrestle Austin, who has also expressed his interest in another match. Austin has been out of active "competition" for years due to injuries that he sustained during his career. He is still a trainer for WWE hopefuls.
However, recent reports indicate that WWE is not leaning towards booking a Punk vs. Austin match at Wrestlemania 29. While it is yet to be seen if Punk will still be WWE Champion for the event, he is expected to be involved in one of the headlining matches.
After experiencing success at the 2012 edition of the PPV, WWE is reported to be interested in booking the show's main events several months in advance just as "Rock" vs. Cena was scheduled a full year ahead.
If Punk vs. Austin does not become a reality, there are several other routes that WWE can take. Punk could very well find himself in another battle with John Cena as Cena is expected to renter the WWE Title picture after July's MITB PPV.
Punk could also find himself entering into a feud with rising heels Dolph Ziggler or Cody Rhodes.
Right now, WWE is said to be alternating between a "Rock" vs. Cena rematch or a Rock vs. Lesnar match. At one point, Cena vs. Lesnar was rumored to be a possibility but that is unlikely after they faced off at Extreme Rules.
Lesnar will also be facing Triple H at SummerSlam, which means a Wrestlemania repeat is unlikely. Triple H is also a potential opponent for Punk should he wish to have a headline match at the company's biggest annual show.
Theoretically, The Undertaker is also a possible opponent for Punk but rumor has it that 'Taker wants a bout with Lesnar.
