According to a new report in the Wrestling Observer Newsletter, there might be a way for WWE to renew CM Punk's contract with, or without his permission.
There is a clause in each Superstar's contract that states the WWE may be able to renew a deal if the wrestler has been injured for a period of time, and the company feels they owe them dates they were previously unable – or "unwilling" in Punk's case – to work. As we reported earlier, there is precedent for the idea, as Vince McMahon recently renewed Rey Mysterio's contract when it was set to expire, as Mysterio has missed most of the last year due to multiple injuries.
The plus side to this for WWE is that it keeps CM Punk from working for any other company while he is under contract to them. The downside is that they would have to continue to pay him during that period of time. It might be worth it from their end, but we should know one way or the other in July when his contract officially expires.