Hulk Hogan recently told the Sun UK that he and Eric Bischoff are starting a new wrestling promotion that will compete with WWE. "Last night me and Eric were getting ready to sign a deal with one of the TV networks here in America. We had a little bit of a problem with the licensing and merchandising, which has delayed it. But I totally expect we're going to sign the TV portion of this very soon, because there's no point in starting any sort of wrestling organisation without the TV locked in place. Now we're just arguing among the lawyers on how to protect the brand and the image and make sure it's a fair deal for everybody. Once we've wrapped the TV up we'll make the official announcement. The network want to make a really big deal of it. The basic idea will be the same as WWE, but I pray to god it's nothing like what's on TV now. I'm a fan, but it is pretty boring programming. It's watered down and unexciting, and the viewer doesn't have any option except to have it shoved down his throat. We're going to have a lot of back story for viewers to understand why these people are doing what they're doing. It won't be family members in the back writing storylines on things they know nothing about." It should be noted that Hogan has mentioned starting his own promotion off and on for years. It is also worth noting that Linda Hogan recently revealed that Hogan had put a large sum of money into a new LLC where only Bischoff had access to it.