It’s been a whirlwind week for Santos Escobar, and it looked at one point like his time with WWE had quietly come to an end. Reports surfaced Monday that Escobar’s contract was set to expire at midnight, and that he had chosen not to re-sign despite a strong offer from the company. Word was that creative frustrations had pushed the LWO member to test free agency.

But in true pro wrestling fashion, the story took a dramatic turn just 48 hours later. By Wednesday, Escobar was officially back under contract with WWE—this time with a deal reportedly more lucrative than the original offer he turned down.

During Wednesday’s Wrestling Observer Radio, Dave Meltzer and Bryan Alvarez discussed Escobar’s decision to stay put. Meltzer confirmed that the financial bump wasn’t the only reason behind his return, noting that WWE has promised to address Escobar’s creative concerns going forward.

“Yeah, [he’s been re-signed], with the idea that he’ll be used better creatively,” Meltzer said. “We’ll see. I remember that was said about Ron Killings too.”

That comparison to R-Truth (real name Ron Killings) isn’t random. Earlier this year, Truth had a brief “departure” of his own after his contract expired, only to return a week later following fan support online. WWE initially teased a new, more serious direction for him, but that quickly faded as he was eased back into his comedic role and used less frequently on television.

Escobar’s own recent run hasn’t been much better. Despite being a standout talent with charisma and in-ring ability to spare, he’s only wrestled seven matches in 2025 so far. A teased angle over the summer involving AAA Mega Champion El Hijo del Vikingo was dropped without explanation, leaving Escobar largely off TV and fans wondering what’s next.

With this new deal in place, it seems WWE wants to make good on its promise to give the former NXT standout something meaningful to do. Whether that actually happens—or if Escobar ends up in R-Truth territory—remains to be seen.

For now, though, the “Emperor of Lucha Libre” is sticking with WWE, and the ball is in their court to make his return worth the hype.

It looks like Santos Escobar’s time in WWE may be coming to an end. According to a new report from PWInsider Elite, the leader of Legado del Fantasma was expected to officially become a free agent early Tuesday morning, ending a six-year run with the company.

Interestingly, Escobar’s reported departure wasn’t about money. Sources told PWInsider that WWE had extended a new contract offer which included a raise, but Escobar turned it down. Instead, his main concern reportedly centered on WWE’s creative direction for his character and his future on television.

Escobar was said to have wanted clarity on how he would be used moving forward — not necessarily demanding a major push, but wanting assurance that he wouldn’t just be “spinning his wheels” on the roster without meaningful storylines or matches.

The 40-year-old’s last televised appearance came in June at AAA x WWE Worlds Collide, where he teamed with Angel and Berto to defeat El Hijo de Dr. Wagner Jr., Pagano, and Psycho Clown. His most recent SmackDown match aired back on May 2, a loss to Rey Fenix.

With Escobar’s contract expiring at midnight heading into Tuesday, there’s still an outside chance WWE could make a last-minute effort to retain him. However, PWInsider reported that as of Monday afternoon, no one within the company seemed to believe that was likely.

Escobar — who first joined WWE in 2019 and became a standout in NXT before transitioning to the main roster — has been noticeably cryptic on social media in recent weeks. Many fans have interpreted those posts as hints about his uncertain future, especially following Andrade’s recent return to AEW after a similar situation.

If this truly marks the end of Escobar’s WWE chapter, the former NXT Cruiserweight Champion leaves behind a legacy of in-ring excellence and charisma that made Legado del Fantasma one of the most stylish and underrated factions of the modern era.