Word going around WWE is that Sin Cara has 3 years left on his current WWE contract, according to PWInsider. There's no word yet on if WWE will grant the request.
It was also said that Cara, who is close with Alberto El Patron, is interested in going to work for the Combate Americas MMA promotion, which features several pro wrestlers. Alberto is also affiliated with the promotion.
On a related note, Andrade, who has been feuding with Sin Cara on WWE TV as of late, took to Twitter after the release statement and taunted Cara. Google provides a rough translation but as seen below, Andrade taunted Cara for running away and giving up on WWE.
"I couldn't retire Rey Misterio but Sin Cara better run, retire or quit hahaha," Andrade wrote.