WWE WrestleMania 38 Rumors: Latest Reports on Potential Card, Top Superstars

WrestleMania Night 1 is set for April 2, and the closer the most prestigious event in sports entertainment gets, the more rampant the rumor mill runs.

With the expected WWE return of Cody Rhodes and the advertised appearance from "Stone Cold" Steve Austin, industry insiders continue to provide insight and updates about what each man will be doing at the extravaganza.

From match expectations to just how physical one of the two men will get, the updates on those Superstars headline this collection of rumors ahead of wrestling's most prominent pay-per-view.

The Latest on Cody Rhodes, WrestleMania and His Potential Opponent

Despite not yet appearing in WWE following his departure from All Elite Wrestling, Cody Rhodes is slated to square off with Seth Rollins at WrestleMania, per Dave Meltzer on the latest edition of Wrestling Observer Radio.

That report backed up Fightful Select's Sean Ross Sapp, who heard from "at least one EVP in All Elite Wrestling" who is under the assumption that Rhodes is facing Rollins in Dallas on either April 2 or 3.

Though the former TNT champion did not appear on Monday's Raw from Jacksonville, the show went off the air with the commentary team making two obvious references to the second-generation wrestler. First, there was a comment about Rollins' dreams being "dashed," a tip of the hat to Cody's Dashing character from a decade ago.

The second? Corey Graves uttered "nightmare," in reference to Rhodes' American Nightmare nickname.

None of that is by accident. WWE would not allow its personnel to go on television and even hint at the possibility Rhodes might be coming in if he were not already factored into creative plans. There have been a lot of reports regarding the situation, with no one able to definitively say what Rhodes is doing one way or the other.

That the company continues to hint at it and two trusted insiders report that Rhodes is booked to face Rollins on the Grandest Stage of Them All suggests the deal is as close to done as it can be without the former AEW EVP actually appearing on WWE TV.

What Is 'Stone Cold' Steve Austin Up to Ahead of WrestleMania Return?

"Stone Cold" Steve Austin will return to The Showcase of the Immortals on April 2 as the guest on The KO Show with Kevin Owens. While most expect him to drop the loudmouth heel with a Stone Cold Stunner, Meltzer reported Austin has ramped up his cardio in preparation of doing more than just delivering his trademark finisher to Owens.

The industry insider went on to say it would be an extended fight that would see Austin get as physical as he has been since retiring from the squared circle in 2003. If that is the case, fans in Dallas will be in for a treat.

Austin is unlikely to ever be able to have an actual match again. He can get in shape, sure, but his neck and knees were damaged to the point that he had to step away to preserve both his health and legacy.

Coming back for one more match not only risks his physical well-being but also damages the lasting image of him walking the aisle at WrestleMania XIX just moments after an epic match with The Rock and saluting the fans who had no idea they had just witnessed his final performance as an active competitor.

Given the quality of worker Owens is and the intensity with which Austin approached the promo he cut in accepting KO's invitation to WrestleMania, whatever happens will likely be awesome. It will definitely end with a Stunner, and the crowd will eat all of it up.

That is the benefit of being an industry icon and the leader of the most popular era in professional wrestling history.

WrestleMania Card Update

There are nine matches/segments already announced for WrestleMania 38, and according to WrestleVotes, there are still roughly seven to be revealed ahead of the Granddaddy of Them All.

We have seen the escalation of the rivalry between United States champion Finn Balor and Damian Priest in recent weeks, all but ensuring those two will meet at the event. There is Rhodes' aforementioned return and subsequent match with Seth Rollins, as well as the potential for both the Andre the Giant Memorial Battle Royal and the women's Battle Royal to take place.

Throw in RK-Bro vs. The Street Profits for the Raw Tag Team Championship, and you have a fairly stacked card.

The question is whether there will be enough time to present everything the company wants to without something getting shortened or the card getting too bloated, something we have seen with recent WrestleManias.

The two-day format helps considerably in that it does not allow for the crowd to get burned out as quickly or as bad as it has in the past, most notably in 2019, when the show technically ended the next day.

There is a wealth of talent on the WWE roster, and the company will do its best to see to it that everyone gets an opportunity to perform. It is admirable, but it also leaves fans wondering how that can happen without overbooking things.

We will soon see whether the promotion was able to pull it off effectively.