Kevin Owens Costs CM Punk the NXT Championship as Grayson Waller Retains
CM Punk challenged Grayson Waller for the NXT Championship on Wednesday, November 4, on a loaded episode of NXT. It was Punk's first match in an NXT ring in more than 16 years.
John Cena was also on the show, two days after his Raw return. He had said on Raw that he was coming to NXT to personally invite wrestlers into the first John Cena Classic. NXT aired at 8 p.m. ET on The CW.
Update: what happened on NXT
Grayson Waller retained the NXT Championship against CM Punk in the main event of the November 4 NXT. The match went 16 minutes and 10 seconds. Waller kept pace early, but Punk's experience wore him down, and Punk looked set to win after a superplex.
Then Kevin Owens jumped onto the ring apron as Punk went for the GTS. Owens never touched Punk, but the distraction was enough. Waller rolled Punk up, grabbed the tights and kept his title.
John Cena was also on the show. He gave more details on the John Cena Classic and personally invited Zilla Fatu, who joins Cody Rhodes in the field. Cody Rhodes presented the Dusty Cup to Noam Dar and Romeo Moreno, and Kelani Jordan retained the NXT Women's Championship against Paige.
The finish adds fresh heat to Punk vs. Owens. The two meet in a No Holds Barred match on SmackDown this Friday, November 6, two days after Owens cost Punk a title on NXT.
How CM Punk ended up on NXT
The road started at NXT Halloween Havoc on Saturday, October 31. Waller retained the NXT Championship against Tony D'Angelo. After the match, show host Danhausen confronted Waller and played a video in which Punk announced he was coming for the title. NXT General Manager Robert Stone made the match official right away.
This did not come out of nowhere. In late September, Waller held an open challenge after his scheduled opponent Mason Rook was sidelined. In a video posted by Shawn Michaels, Punk turned it down and noted he was not an official NXT roster member, which Stone had said was required. Waller has also spent months taking shots at Punk in interviews. On November 4, he got him.
Full NXT results
- NXT Championship: Grayson Waller (c) def. CM Punk to retain, after Kevin Owens stopped Punk's GTS
- John Cena appeared and invited Zilla Fatu into the John Cena Classic
- NXT Women's Championship: Kelani Jordan (c) def. Paige to retain. Paige was the mystery opponent.
- Dusty Rhodes Tag Team Classic final: Romeo Moreno and Noam Dar def. Hank Walker and Tank Ledger to win the 2026 Dusty Cup. Cody Rhodes presented the trophy.
- Unsanctioned Match: Cruz Montana def. Dion Lennox, with UFC's Michael Chandler as special guest referee
- Six-man tag: Chad Gable, Rey Fenix and Dragon Lee def. The Vanity Project
The show aired live at 8 p.m. ET on The CW in the US, and Netflix streams NXT in most markets outside the US. It took place in Orlando, Florida, and moved from its usual Tuesday slot to Wednesday because of Election Day coverage.
Why it matters for Punk
Punk is a SmackDown star, and he is in a rough stretch. He lost the Undisputed WWE Championship to Sami Zayn on the September 11 SmackDown after Kevin Owens, Johnny Gargano and Candice LeRae interfered. His feud with Owens has kept going since.
That feud continues this Friday. Punk faces Owens in a No Holds Barred match on the November 6 SmackDown. That show was taped on Monday, so if you want to stay spoiler-free, watch your step online this week.
NXT gave Punk a different kind of shot. Winning the NXT Championship would have put gold back around his waist without waiting in line for Zayn. Instead, Owens cost him, right before their No Holds Barred fight on Friday. Waller, for his part, got the biggest match of his reign and walked out still champion.
John Cena's role and the John Cena Classic
On the November 2 Raw, Cena laid out the first John Cena Classic. It takes place on Monday, December 14, as a special Raw at the ESPN Wide World of Sports Complex near Orlando. Raw and SmackDown stars will face NXT talent, the winner gets the new WWE John Cena Championship, and fan voting runs through Club WWE. Cody Rhodes is the first invitee from the main roster.
NXT was the next step. Cena said on Raw he would visit NXT to invite wrestlers personally, and on November 4 he invited Zilla Fatu, who joins Cody Rhodes in the field. More main roster entrants are due in the coming weeks, including at Survivor Series on November 28. Cena's next stops are SmackDown on November 13 and Raw on November 16. Our John Cena November dates page has the full list.
Our view
NXT aired head to head with AEW Dynamite: Blood & Guts. In our view, Punk, Cena and Cody Rhodes on the same NXT show was WWE making a clear play for that audience. For main roster fans, it was the rare NXT episode that felt like must-watch TV. Cody Rhodes now heads to Riyadh to face Randy Orton in a Last Man Standing match at Crown Jewel 2026 on Saturday.
