According to The Wrestling Observer, the current plan in WWE is to have Sheamus vs Randy Orton for the World Title take place at WrestleMania 29.
This of course would require one of the two of them to win the title sometime before WrestleMania, and one of them would likely turn heel. As we have been reporting, there has been strong consideration given to Randy Orton turning heel sooner rather than later, so it would appear likely that Orton would be the heel in the title match.
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