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Impact Wrestling Officially Terminates Jeff Jarrett

Former WCW and WWE star Jeff Jarrett spent over a decade trying to build up a company that could rival Vince McMahon's global powerhouse. Jarrett and his father Jerry co-founded TNA (now known as Impact Wrestling), to some success over the years.

However, Jarrett's run appears to be coming to an end. On their official Twitter account, Impact Wrestling had this big news to share.

RELATED: THINGS TO EXPECT WITH JEFF JARRETT GONE FROM TNA

Jarrett has also founded Global Force Wrestling, but it was to be acquired by Impact a few months ago. The deal fell through, and Jarrett's firing shouldn't be the least bit of surprising news.

via sportsillustrated.com

Both companies have struggled a lot, trying to re-brand themselves while also finding new talent. It was a huge loss for Impact when Matt and Jeff Hardy departed to rejoin WWE, while Mike Bennett and Maria Kanellis also joined the SmackDown roster just months ago.

GFW also brought in former WWE manager/promoter Jim Cornette, but he announced his departure from the company just a month ago. They also brought in Johnny Mundo (better known as John Morrison in his WWE days), but it hasn't been enough to help the company.

RELATED: MORE NEWS ON IMPACT WRESTLING'S REBRANDING

WrestleZone reached Jarrett for comment following his firing, and he simply replied with “Anthem is out of money.” They then reached out to Impact for a reply, and they came back with "That statement is inaccurate. Anthem and IMPACT Wrestling are looking forward to a successful 6-day tour in Ottawa, Nov. 5-10, and much more."

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Jarrett's run with TNA/Impact was undoubtedly somewhat successful, but the company struggled financially over the last couple of years. They've also lost some of their top talent, including the aforementioned Hardy brothers and AJ Styles. They just haven't been able to keep up with WWE, despite sweeping changes all over.

Though Impact never brought the heat on WWE that WCW did in the '90s, Vince McMahon is probably smiling somewhere as his biggest "competition" continues to struggle.

NEXT: IMPACT STAR SPOTTED AT WWE PERFORMANCE CENTER

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