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Hulk Hogan agrees to terms with TNA for big Nov. 30 PPV

By Wade Keller, Torch editor

Hulk Hogan and NWA-TNA have agreed to terms and the final paperwork is being worked through this week. The deal isn't done, but it's expected to be done. "Everything's great and looks like it'll definitely happen," says one insider close to negotiations.

The agreement would call for Hogan to be a big part of the TNA product beginning with a special Nov. 30 Sunday night three-hour PPV priced at around $30, perhaps even the WWE rate of $35. The proposed match is Hogan vs. Jeff Jarrett, perhaps for the NWA World Hvt. Title. Jarrett has a title match against A.J. Styles on the Wednesday night, Oct. 22 event.

Hogan is headed to Japan this week for a match on Oct. 13. He'll be in Japan for four days, then return to the U.S. Hogan is looking to redeem his status after leaving WWE under less than glamorous circumstances when the Mr. America gimmick was halted in mid-course after creative and financial differences between him and McMahon. Going to Japan and being the centerpiece of the media attention there (he's on the cover of at least one of the big Japanese weekly glossies this week) and then being featured on a Sunday night PPV again in the U.S. would help.

There's still a chance, unless official press releases are issued announcing the deal with TNA, that Vince McMahon could step in and make Hogan an offer that he couldn't refuse. That may be an ulterior motive with Hogan, although all indications are that Hogan is sincere in thinking the TNA opportunity is a good deal and could lead to something bigger. There is talk among key parties that "maybe Hulk could do for TNA what he did for WCW." WCW wasn't taken seriously by merchandisers and advertisers until Hogan was signed, erasing WCW's image as a regional Southern promotion that played second fiddle to the WWF.

The deal on the table right now would include Hogan being part of more than just the Sunday, Nov. 30 PPV. However, Hogan is conscious of image and doesn't want his first match back to be at the Nashville Fairgrounds where TNA tapes every week. "That could create the image he's on the downswing of his career," says one involved insider. The arena is small and the fans may be less apt to cheer him since fans that attend shows each week at the same arena are typically more hardcore and rebellious. Hogan might be willing to make a promotional appearance now and then at the Coliseum, dubbed the TNA Asylum, but his first big match back will be at a larger venue.

Sources say Hogan would not be getting an ownership stake in TNA as part of the deal, but he would get a percentage of the PPV buyrate. The motivation for TNA, beyond their cut of the potential revenue created if a Hogan vs. Jarrett match drew a big buyrate on Nov. 30, would be to put their brand name on the map nationally. Having Hogan's name attached to the TNA logo would give the promotion a "legitimate credibility" with people who don't follow wrestling closely, but are instrumental in TNA getting outside deals done, be it advertisers or TV executives.

Even if the Nov. 30 PPV didn't draw well, cable companies would be more aware of TNA because of the event and might be more willing to promote the Wednesday night events harder than they have during the first year-plus of the promotion's existence. Hogan's name being attached to the product might help TNA get the weekly national cable clearance they so would like to have.

Hogan's real-life manager Jimmy Hart has had a close friendship with Jerry Jarrett of TNA for decades. Hart first worked for Jarrett in Memphis 20 years ago. Hogan also worked early in his career for Jarrett, although Hogan hasn't always spoken highly of Jarrett in past years. Despite the controversy with the Jeff Jarrett vs. Hulk Hogan WCW Title match that led to Hogan quitting, Jarrett was more of a side player than anyone conspiring against Hogan, so there isn't any heat between them. The Jarretts and Hogan have talked extensively on the phone and had face-to-face meetings over the past month. Both sides are said to be excited about the possibilities of a relationship.

Nobody is being too specific, but it appears Vince Russo would not be involved with Hogan behind the scenes or necessarily on camera.