WrestlingInc.com is reporting tonight that TNA and Mick Foley have come to an agreement. He will able to debut in TNA as soon he is contractually permitted to. His current contract with WWE expires by September 1.

WrestlingInc.com is also reporting that Spike TV helped TNA in landing the deal with Foley, and he may have a subsidized contract. Foley could end up being involved in other projects with Spike TV.

WWE dropped Foley from television a few weeks ago after they found he was unhappy with his status in the company and likely not renewing his contract.

There was a lot of buzz among the wrestlers in the locker room this past, but TNA officials are keeping quiet on the situation. Although, they were hopeful that TNA President Dixie Carter would get a deal done with Foley.