Rey Mysterio signed a two-year deal with WWE in September 2018, with the option to give his notice after 18-months.
According to Dave Meltzer of Wrestling Observer Radio, Rey Mysterio asked for a raise, which was denied by Vince McMahon.
According to the report, McMahon cited the current situation the company is in, making massive cuts across the business amid the COVID-19 crisis.
WWE does want to sign Rey Mysterio to a new deal, and both sides continue negotiations, but have yet to come to an agreement.
Due to the fact that Rey Mysterio is working without a contract, he could technically work for another promotion, but that is likely not going to happen.
Rey Mysterio will be facing Seth Rollins in an “Eye For An Eye” match at Extreme Rules on 7/19. WWE’s official rules for the match states, ” a winner can only determined by extracting the opponent’s eye”