Konnan said on the latest MLW podcast that he spoke to Jeff Jarrett over the weekend and Jarrett told him he’s planning to make a big announcement this week (Monday or Tuesday) about the formation of a new wrestling promotion. Granted, it’s coming from Konnan, but it’s something to look out for.

Konnan said Jarrett hinted that country music star Toby Keith would be the majority investor in the project, but stopped short of naming Keith directly. He also said Jarrett told him that TNA is in bad shape, which is not surprising, considering TNA’s recent issues and Jarrett’s abrupt departure from the company he founded over a decade ago.

With Jim Ross’ being a free agent and tweeting that he recently met with Toby Keith, it should be interesting to see what comes of this.

* JIM ROSS Talks About Meeting With Toby Keith Last Week