The news that Jeff Jarrett and Toby Keith might be working on starting their own major wrestling promotion came shortly after Jarrett's contract with TNA Impact Wrestling expired and he left the company. Now, PWS reported on Jan. 8 that Homicide revealed that Jarrett has been working on it for a few weeks now.
This should come as no surprise, as Jarrett would not have left TNA Impact Wrestling if he did not have some kind of follow up plan. According to Homicide, he knew weeks ago of Jarrett's plans to set up something new.
Jarrett has been pretty outspoken since leaving TNA Impact Wrestling that he feels the promotion is in major trouble and he doesn't really care if it survives through the end of 2014. That is a big statement coming from the man who founded the company 12 years ago, but it also shows how disenfranchised he has become since the Carter family began to change the way it was ran.
Jarrett tweeted after his release that he and his wife Karen Jarrett were in meetings, and that when the time is right, they would announce their new plans. Those plans, according to many people, involve starting the new wrestling promotion with Toby Keith as the financial backer.
Keith has deep pockets, the fourth highest grossing musician of 2013 and, according to Forbes, a $500 million man. He also has a love for the industry, appearing on early episodes of TNA Impact Wrestling with Jarrett.
There are also unconfirmed rumors that they already have a TV deal lined up with CMT, which makes sense considering Keith is involved and that CMT was the home for TNA Impact Wrestling before they moved to Spike TV.