As noted earlier, negotiations between TNA and Toby Keith, who was the main person looking to purchase the company, apparently fell through. Jeff Jarrett was expected to be a part of the promotion in a key role if the sale happened, due to his relationship with Keith. Shortly after talks between Keith and TNA fell through, Jarrett announced that he was parting ways with TNA.
On tonight's episode of his podcast, which you can listen to at MLW.com, Konnan said that he spoke with Jarrett and that Jarrett will be making an announcement this week about a new project. He said that Jarrett told him that TNA is in really bad shape, and that he doesn't know and doesn't care if they see through the year. Konnan then pretty much stated that Jarrett would be starting a new promotion with Keith.
In perhaps an unrelated note, Jim Ross noted on his Twitter last Tuesday that he had a "great meeting with a major sports concern... Could be big...and fun!" He wrote later in the week that he had dinner with Keith and others in New Orleans while he was in town for the Sugar Bowl. A fan mentioned the meeting with Keith and brought up Jeff Jarrett, to which Ross replied: