We reported here yesterday that Chris Jericho has been in regular contact with WWE and the two sides are discussing Jericho's return to the company. We have another update to the Chris Jericho situation.

Chris Jericho and WWE remained in contact ever since Jericho's contract expired in the summer of 2005. Things have heated up ever since Jericho's appearance on Larry King Live in July. Anybody who saw Jericho's appearance knows that Jericho was very protective of WWE's role in the tragedy, laying the foundation for his eventual return. Jericho also became very friendly with WWE champion John Cena.

Since Larry King, Chris Jericho has been in more regular contact with WWE. WWE is ready to give Jericho a guaranteed 7-figure deal to come back.

So both sides are negotiating. WWE wants Jericho, Jericho's open to returning .. While anything can happen and the deal could fall through, it's likely only a matter of time before Y2J is back in WWE.