In a press conference held today, it has been announced that Hulk Hogan and Eric Bischoff have officially signed with TNA.
Despite some negative comments directed towards TNA earlier in the year, it has been rumored that Hogan and Bischoff were looking to make a return to wrestling, with TNA being their target over the past few months.
It is no surprise that there have been some past issues between both men and certain TNA workers, most notably Vince Russo, so it should be noted that very few members of TNA management knew of the deal until it went down.
Once the contracts were signed, the foremost thought on everyone's minds were: Are Hulk Hogan and Eric Bischoff going to take over TNA wrestling?
This question was asked to both men during the conference, who answered very simply "absolutely not."
Although the subject of the contracts is unknown at this particular time, it seems most likely that both men will be most involved with the Creative Team, with Hogan also speculated to make a return to the ring.
With the current direction of TNA being on spotlighting younger talent, it really questions the decision to bring both men in.
Eric Bischoff is well regarded as being good at pushing younger wrestlers into the picture, as he is credited with the WCW pushes of performers like Chris Jericho and Rey Mysterio.
However, there has also been some criticisms over many of his booking decisions in the past, with the majority of them being labeled as "questionable at best, disastrous at worst."
Hulk Hogan has always been a highly controversial figure within the wrestling business, with many calling him "overrated and egotistical," so it questions what his influence is going to be on TNA as a whole.
Many are concerned that Hogan might use his power to benefit himself, such as to allow himself to be featured in high profile storylines and possibly even championship matches.
I personally think the decision to bring in Hogan is a bad one, as TNA has finally started moving in the right direction, especially with the highlighting of younger wrestlers.
However, with Hogan being broadly disliked for the way in which he only backs certain people for exposure, many think this could lead to the burial of new talent.
With Eric Bischoff, I am actually intrigued as to what he could offer. Although he is one of the people blamed for the downfall of WCW, he is also credited with helping them stay on top during the Monday Night Wars.
All that can be said right now is that this is certainly going to change the immediate complexion of TNA, but will its long term effects benefit or ultimately destroy the company?