WWE sent out the following:

At a WWE Live Event in at São Paulo, Brazil, on Thursday evening, Chris Jericho reportedly denigrated the Brazilian flag during a match against WWE Champion CM Punk. Suspended indefinitely, Jericho responded to the incident in his own words. “I made a bad judgment call in the course of entertaining [WWE] fans in Brazil,” Jericho told WWE.com. “I apologized to the people in the crowd for showing disrespect.”

During Jericho’s match with the WWE Champion at São Paulo’s Ginásio do Ibirapuera, the flag found its way into the ring, where Jericho crumpled it up and then kicked it. Local law enforcement stopped the bout and gave Jericho the opportunity to apologize to those in attendance or face incarceration. The former World Champion expressed his regret to the crowd and the WWE Live Event continued.

Due to his actions, WWE officials suspended Jericho indefinitely.

“It was a bad move,” Jericho said. “I did it with [our] fans’ entertainment in mind and I’ll accept the consequences for that.”

Note from Wayne: Those I have spoken to within the company state that the statement from the company that Jericho has been suspended indefinitely is to allow him the time off to tour with Fozzy and that he’ll be back on television in the coming weeks.