He still works as a consultant. An opportunity will be afforded for him to work with WWE as long as Vince is alive. That position will likely be available to him forever. Advancement from there is another issue.
Paul Heyman's very charismatic and is without a doubt a world class salesman. He is devastatingly effective when it comes to selling himself and his concepts and getting them over effectively to his target audience. The fact that he was able to motivate people in ECW to work as hard as they did for him, then look them in the eye after having their checks bounce, tell them it 'won't happen again' for the umpteenth time and STILL get them to keep performing as hard as they did is just amazing. There are many Corporate seminars on employee motivation techniques just waiting to be run by Paul Heyman.
He always comes across as deeply committed and sincerely convinced in his approach. He cuts excellent promos, crafts well developed angle and excels at character development.
Unfortunately he's also someone who blatantly lies on a consistent basis. Why? I don't know. In any environment, especially a CORPORATE environment it's not a good thing for your career to develop a pattern where you gossip, badmouth, make up BS stories about being late, habitually miss meetings and just prove yourself to be unreliable. When you go over the head of your superiors and straight to Vince it's doubly bad.
All of these things have created problems for Heyman in the past. Only Vince himself WANTING him around has made him still play a role. He was brought back into creative by orders of the man himself, against the wishes of virtually the entire staff. Yet like clock work he was soon back to his old ways.
Most recently Paul was caught ease dropping on private conversations, LEAKING the information to Internet sources (God knows why) denying it, and then finally admitting to it when confronted with irrefutable proof. What company in any field is going to tolerate such behavior?
What complicates the situation is that Paul owes Vince a tremendous amount of money. When you owe your employer money it's akin to being an indentured servant, so it's not in the best interest of either party to part ways if there's any discernable benefit. Heyman's talent has value in my opinion that makes him worth dealing with. Up to this latest stunt Vince has agreed and overlooked the bad. Even if it's in the role simply as a 'consultant' who stays at a safe distance you'll likely see Heyman always given an opportunity for employment, and him willingly accepting.
Remember Heyman's a 39 year old guy who filed for bankruptcy at 35 and has little to no real assets backing him up. At this stage in his life it's in his best financial interest to have a secure job, where he can pay off his debts and live securely while still doing what he loves. The days of him running his own promotion with his own money, inevitably losing it and winding up with nothing again are likely gone forever.
I'll say this though. Had a money mark like Panda Energy pumped 17 million into the creative talent of Paul Heyman as opposed to the Jarretts the product would likely have been much more entertaining. It wouldn't make money, no company attempting to run full time can under the new realities. Yet it would likely entertain and hopefully create new potential big time draws similar to the way ECW did.