Hulk Hogan and Eric Bischoff Sign with TNA Wrestling

Hulk Hogan and Eric Bischoff have officially signed with TNA Wrestling.

The official website for TNA Wrestling has confirmed that Hulk Hogan has signed a contract with the wrestling company. The announcement came at a press conference that took place as Madison Square Garden in New York City on Tuesday. During the conference, Hogan told reporters "I'm thrilled to be jumping back into the world of professional wrestling. My fans have been asking me to return to the business for many years on a full time basis, but the timing or the opportunity has never been right until now. TNA Wrestling is a great company with an already excellent fan base, business and broadcast partner. I firmly believe now is the time for some change at TNA as they are positioned to jump to the next level in their development and I'm here to work with Dixie to help make that a reality."

Hogan isn't going to TNA Wrestling alone. Eric Bischoff, the man known for running World Championship Wrestling during the Monday Night Wars era, is also on his way to TNA Wrestling. F4W Online is reporting that, as of Tuesday, Vince Russo is still employed by TNA Wrestling. Russo is currently the head booker for TNA Wrestling. F4W is suggesting that Eric Bischoff and Hulk Hogan will be in charge of the creative aspect of TNA Wrestling, along with the president of TNA Wrestling, Dixie Carter.

In a breaking news audio update on F4W Online (available only to subscribers), pro wrestling journalists Dave Meltzer and Bryan Alvarez suggested that Hulk Hogan and Eric Bischoff are only the first "big names" that will be signing with TNA Wrestling. Meltzer is reporting that TNA Wrestling will have an announcement in the future even bigger than the signing of Hulk Hogan.

Two names being thrown around by pro wrestling fans are Shane McMahon and Ric Flair. McMahon resigned from his father's company, WWE, on October 16. Ric Flair is currently signed on to wrestle on Hulk Hogan's Australian Wrestling Tour. These are, for the time being, just rumors as Meltzer states that the "big" TNA Wrestling announcement will not be coming for at least several weeks.

Hulk Hogan signing with TNA Wrestling happens just as his new book, My Life Outside the Ring, hits bookstores. The big story from this book is Hulk Hogan "confession" that he seriously considered suicide within the past year.

Longtime pro wrestling fans know the history between Hulk Hogan, Eric Bischoff and Vince Russo. It's highly unlikely the three will be able to work together on a longterm basis. Nevertheless, with TNA treading water with the constant .9-1.1 weekly television rating and abysmal pay-per-view buy rates, the signing of Hulk Hogan is a big deal for the number two pro wrestling company in the United States.