What does TNA signing Hulk Hogan mean for the wrestling business???

As my colleague and friend, "Admiral" Robert Johnson has previously reported. Wrestling's biggest superstar, Hulk Hogan (as well as his Buddy, Eric Bischoff) has officially signed with TNA wrestling. TNA has confirmed the news on their site, tnawrestling.com with the following press release:




HULK HOGAN JOINS TNA WRESTLING
Legendary Wrestler and Pop Culture Icon Returns To The Ring With Fast-Rising Wrestling Organization

“Hulkamania” is back! The biggest name in professional wrestling history, Hulk Hogan, is joining Total Non-Stop Action Wrestling (TNA), the fastest rising wrestling organization in the world and home to one of cable television’s highest rated shows for young men, TNA iMPACT! The announcement was made today by TNA Wrestling in conjunction with Spike TV at a press conference held in New York City.

“Hulk Hogan is one of the world’s top pop culture icons and the biggest superstar in the history of professional wrestling. We are truly excited to welcome him into the TNA family,” said Dixie Carter, President of TNA Wrestling. “Our goal is to become the world’s biggest professional wrestling company. Hulk defines professional wrestling and we look forward to partnering with him in a variety of ways as we continue to grow TNA globally.”

“I’m thrilled to be jumping back into the world of professional wrestling,” said Hogan. “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.”

Through Hogan’s partnership with Bischoff Hervey Entertainment Television, the deal with TNA was negotiated by longtime Hogan colleague Eric Bischoff. Additionally, BHE TV has inked a first-look deal with TNA and will be working with the organization to develop new programming extensions of the TNA brand.

“Hulk Hogan adds yet another level of star power that positions TNA iMPACT as Spike TV’s version of ‘Must-See TV’ on Thursday nights,” said Kevin Kay, president of Spike.

Hogan most recently penned an autobiography with Mark Dagostino, “My Life Outside The Ring” with St. Martin’s Press.

Now what does this mean for TNA, and the existing structure within the company?

Vince Russo, who has a long-standing feud with Hogan, as well as tension with Bischoff. As us wrestling fans know of the whole fiasco in the Summer of 2000, where Russo, with Jeff Jarrett had embarrassed the business by having Jarrett lay down for Hogan at the Bash at the Beach Pay Per View, which led to a defamation of character lawsuit by Hogan against Russo, as well as Hogan's departure from WCW...

(The following is an excerpt from an article on lordsofpain.net
There is speculation that Vince Russo will be released from the company, with one source noting his future was "to be determined." Hulk Hogan and Bischoff are not fans of Russo and have stated in the past that they would not work with him. Bischoff has been critical of TNA's creative direction and stated earlier this year in an interview with The Sun that neither him nor Hogan were interested in joining TNA.

So I have a feeling that the structure within the company is about the change with the arrival of Hogan.... Let's just (Like Robert said) hope that this isn't WCW 2.0...

F.M.