As reported earlier, WWE announced today to the surprise of many that Bray Wyatt has been released from his contract after 12 years with the company.

Wyatt was widely believed to be returning to WWE television shortly after having been off-screen since April. 

In an update on his shock release, Dave Meltzer is reporting that Wyatt was told by John Laurinaitis that he was released due to company-wide budget cuts, which is curious as he was booked for events in August.

Wyatt is believed to have a 90-day non-compete which will keep him away from other wrestling promotions for a while yet.