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The plan right now is for Cody to headline Raw and Roman Reigns to headline Smackdown.
Cody will face Roman Reigns on the first post Mania Raw with the plan being that Roman will cheat like crazy to win the match and then declare he will never return to Raw again so as to deny Cody a rematch. Roman will also trash the Raw belt on the following Smackdown to cement the idea that the Smackdown belt is the new definitive world title.
In response, Cody will declare himself the world champion of Raw which will be debut in the April pay per view. A new belt will be designed for Cody and while Vince won't officially recognize it as legit, it will be treated as such.
This is being done largely to appease Roman Reign's ego. Roman is SEVERELY threatened by Cody. And the implications that Vince is bringing Cody in explicitly to deal with the overall backlash towards Roman's tenure as Champion. Brock Lesner has stated upfront he will not work with Cody, out of loyalty to Lesner.
