Former WWF and WCW star Jeff Jarrett co-founded TNA (now Impact Wrestling), with this father, Jerry. The Jarretts worked together in trying to build a promotion that could at least challenge the WWE as the top wrestling company in the world. Spoiler alert: They never got close.
Jarrett also founded Global Force Wrestling, and the plan was for the company to merge with Impact. However, that came to an abrupt end when Impact made this shocking announcement about cutting ties with Jarrett.
Impact Wrestling announced today that it has terminated its business relationship with Jeff Jarrett and Global Force Entertainment Inc., effective immediately.— IMPACT (@IMPACTWRESTLING) October 23, 2017
So with that plan foiled, Jarrett's immediate future in wrestling came into question. He did an interview with The Tennessean and chose not to answer any questions related to Impact's announcement. However, Jarrett did reveal his plans regarding his future in the industry.
"I've spent 31 years in the wrestling business. I'm not getting out of the wrestling business," says Jarrett.
Jarrett's Global Force promotion announced plans to merge with Impact in April, but those plans fell through following Monday's announcement. The company officially became defunct on June 28, 2017, barely lasting over three years.
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Impact Wrestling also ran into its fair share of troubles in recent years. They already lost their two top stars in Matt and Jeff Hardy earlier in 2017, along with other stars like AJ Styles, Mike Bennett, and his wife, Maria Kanellis.
Last year, it was announced that Vince McMahon and the WWE were purchasing TNA's library, which was an indicator to some that Impact would possibly get bought out. As of now, that hasn't happened.
Vince McMahon and the WWE (known as WWF at the time) were almost put out of business by WCW in the late '90s, but mismanagement and poor financial decisions caught up with Ted Turner's wrestling promotion. McMahon ran away in the ratings and was able to buy out WCW.
As for Jeff Jarrett, he shouldn't have problems finding work in a different promotion. He has a bitter history with the WWE, but perhaps Ring of Honor will give him a call. Stay tuned.