WWE will likely make the announcment soon. A visible indication for now is that Del Rio’s name has been removed from all the upcoming shows he was scheduled for.
Sources close to Del Rio say he was unhappy over a push he was promised last year and never got. He is tired of empty promises. For a while now there have been reports that Del Rio had negative feelings towards WWE creative.
The WWE and Del Rio have agreed on the terms of release, which state that Del Rio can work in Mexico and internationally right away if he wishes. In a few weeks, he will be able to work elsewhere in the United States as well.