It is being reported that both the WWE and Mauro Ranallo have reached a settlement agreement that will allow Ranallo to bow out when his contract ends on August 12th. Both Ranallo and JBL also made statements regarding the situation. Ranallo has stated:
"WWE and I have mutually agreed to part ways. It has nothing to do with JBL."
Moreover, Ranallo will be able to do anything he wants while under contract except for pro wrestling. He has stated that he would indeed return to pro wrestling broadcasting in the future.
JBL has also made a statement on the matter to NewsWeek:
"Admittedly, I took part in locker room pranks that existed within the industry years ago. WWE addressed my behavior and I responded accordingly, yet my past is being brought up because of recent unfounded rumors. I apologize if anything I said plaing 'the bad guy' on a TV show was misconstrued."
Don't be surprised if Ranallo eventually shows his face in Ring of Honor or New Japan after his deal comes to an end as both of those promotions are very interested in him. You may also see him show up in UFC in the near future.