If Cody Rhodes and Roman Reigns are headed toward a money-making third showdown, “The American Nightmare” may already be subtly laying the groundwork for the trilogy.
The Undisputed WWE Champion recently
spoke with actor and wrestling fan Timothée Chalamet on his podcast, What Do You Wanna Talk About? With Cody Rhodes. In discussing his line of work, Rhodes said one of the most beautiful things about pro wrestling is that “people will never know how real wrestling is in different aspects.”
As an example, he cited an individual he called his greatest rival. Though he didn’t mention this person by name, it almost certainly points to Roman Reigns.
Said Rhodes:
“I hate using him as an example, but my greatest rival in this company, I don’t even have to say his name, it’s as real as it could possibly get. You would like to be QB1, I would like to be QB1, it’s every piece of it. But it’s also when we get in there, that’s probably my favorite guy to make music with.”
Real Heat, Work, or Both?
Just before that statement, Rhodes talked about the value of Unreal, the Netflix docuseries that takes fans behind the scenes at WWE. He noted that the show allows him to put a “work under the work,” meaning he can use a reality-based setting to advance what fans eventually see on-screen.
Knowing that Rhodes sees these opportunities as tools to blur the lines, his comments to Chalamet could be seen as a genuine dig at Reigns, a slow-burn setup to a third match, or a little of both.
Perceived Tension
Rhodes has said more than once that he and Reigns have a strained relationship, admitting they don’t talk much backstage. That tension could stem from past comments by Rhodes, including mocking Reigns’ physique and referencing his failed WWE drug test in 2016.
Given their positions in the company, a legitimate tug-of-war over WWE’s top spot wouldn’t be surprising.
In recent months, Reigns has made his own veiled comments, which some fans have interpreted as him questioning WWE’s decision to go with Rhodes as the company’s face. In a post-show promo shared by WWE on social media, Reigns said:
“If it ain’t broke, don’t fix it.
“I’m tired of everybody thinking they understand the landscape. I’m tired of everybody thinking they understand the top of the mountain.
“Only one man understands this altitude. The Tribal Chief. The greatest of all time. They only want what they don’t have. Touch anything and turn it into gold. You understand that? That’s what makes me so damn good.”
Before this, Reigns used an in-ring promo to highlight the crowd booing Rhodes’ name, smirking and saying, “Interesting.”
By refusing to mention Reigns by name here, Rhodes’ comment could read as a subtle, intentional jab — a way of saying, “I’m not giving him the free hype,” in response to Reigns’ comments.
That slight helps frame their relationship as legitimately competitive, enhancing the mystique around their rivalry — real or scripted.
Building Toward Reigns vs. Rhodes III
Another way to view Rhodes’ comments is through the lens of Unreal. Earlier in the interview, he discussed how the show exposes behind-the-scenes reality — exactly the kind of environment WWE loves to seed future stories while pretending everything is just candid conversation.
His comments to Chalamet may be a calculated move to keep the Reigns–Rhodes rivalry warm for a future marquee match.
Following Survivor Series, it was reported that a third Reigns–Rhodes bout was being discussed, though it isn’t guaranteed for WrestleMania 42.
Before Survivor Series, Rhodes expressed concern to comedian Bert Kreischer about maintaining his spot as WWE’s top star. “I feel like I’m losing ground. I want to be the best champion there ever was. But am I doing it?” said Rhodes.
At Survivor Series, following a WarGames loss, Reigns appeared ready to extend a hand to Rhodes. Instead, Rhodes stepped forward aggressively. Rhodes’ posture suggested he didn’t need the help, while Reigns flashing his teeth and growling, “That’s the last time we’ll ever team,” added fuel to the fire.
Based on their recent commentary, a third bout could be built on Rhodes feeling he still needs to prove himself against Reigns, who, despite a year of losses and being far removed from the title picture, remains WWE’s top attraction.
Workers Gonna Work
Of course, the perceived tension between Reigns and Rhodes could be one of the greatest long-term works of the modern era.
Before CM Punk returned to WWE, he and Reigns traded harsh comments about each other in separate interviews. Reigns even said he didn’t like Punk, but was “willing to put business first.”
Most assumed that meant an in-ring program. Yet the two recently voiced characters in Zootopia 2, playing buddy zebras — or Zebros. Any past friction may have been exaggerated for the express purpose of building toward a future program.
The same could easily be happening with “The American Nightmare” and the Tribal Chief.
As Rhodes pinned Reigns to win the Undisputed WWE Championship at WrestleMania XL, WWE cameras appeared to catch Reigns smiling as he took the three-count. Later replays changed the camera angle to avoid his face, fueling speculation that Reigns may not resent Rhodes as much as fans are led to believe.
Throughout his career, and most noticeably in the past year, Reigns has consistently shown a willingness to help elevate others. During his feud with Solo Sikoa, he took a clean pin in a six-man tag at Crown Jewel in 2024.
This year, at WrestleMania 41, Reigns took the pin against Seth Rollins in the main event. Over the summer, he allowed himself to be the punchline as Bronson Reed twice stole his shoes before putting him over in Reed’s home country of Australia.
All of these decisions were made for the best of the business — a testament to Reigns’ professionalism and his ability to stay over even in defeat.
If there is a perceived rivalry between him and Rhodes, leaning into it — as Rhodes seems to be doing — will only make their eventual Act III even bigger when WWE pulls the trigger.
