Seamus Colemole
Previously deathbyropeandglass
I think that's "kayfabe" (see, look at me with the terminology!) and his contract actually runs to September.
Either way, he's simply too valuable to let go. WWE wouldn't push him like this and gift him to another company. My guess is that he has extended his contract already, WWE have covered it up brilliantly, and he'll just take time off.
But I think the time off may be in a way we wouldn't expect. New Japan Pro Wrestling have had a decent link with WWE for beards, and Ring of Honor are respected by McMahon a lot more than TNA. There's a possibility here that Punk DOES walk away with the title and we get vignettes of him defending it every so often at ROH and NJPW for a month or so before he returns. Basically, he takes a break on a much lighter workload.
Yeah they could run with him winning the title and then defending it in various indies around the world for a bit. The problem then is how to play it on WWE tv.
How would the other wrestlers react? What would Vince do to get his title back.
My worst fear is that half way through the match Vince walks down to ringside, Cena puts punk in the sharpshooter...............................................you know the rest.