According to a source, Hulk Hogan and Eric Bischoff coming into TNA does not mean that they will take the reigns of the company. Also, even with Hogan and Russo's past, this does not mean that Russo will be pulled from power. There are SPIKE TV and TNA banners up at the press conference and Jimmy Hart is with Hogan. Until today, the signing was kept a secret to even the inner-most members of the TNA circle.

TNA President Dixie Carter and several top flight TNA officials are at Hulk Hogan's press conference in New York City at Madison Square Garden.

More on the story as it comes.

What are your thoughts on Hogan and Bischoff's signing? We have a thread going on our forums about this, you can go to the thread by clicking here.