According to pwinsider.com, WWE has recently contacted Cody Rhodes for what the site claims is for a deal, similar to a Legends contract. The site says that this deal would allow the company to release merchandise and other items with his likeness. The site speculates that WWE may have Stardust merchandise coming out through a third party (like action figures through Mattel). The deal would legally allow them to move forward with the sale of these items.
At this time, the site also reports that there is no talk of Rhodes returning as a full-time performer. Rhodes is already booking several independent appearances, and he already has representation for possible acting work in Hollywood.
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