AJ Styles is locked into his contract with TNA Wrestling through December 2013. His deal recently expired and the company signed him to a short-term extension to keep him through Bound for Glory. The hang-up on the negotiations is TNA trying to get him to re-sign but at a lower rate than he's been working.
TNA does have decent leverage in negotiations as we're told WWE interest in Styles is "minimal" at best. We're told WWE respects Styles' talent but sees him as someone they'd have to "start from scratch" with at the age of 36. One thing working against Styles and a possible opportunity in WWE is the WWE Network and plans for a proposed show around cruiserweight talent being delayed.
Styles is featured on this week's Impact Wrestling with complete taping results available at this link.