James Storm and Magnus’ contract with TNA Wrestling end after Sunday’s Slammiversary event. Both men reportedly went to management and asked to be let out of their deals because the company is running less shows now, which means less money.
TNA management understand the reality that the company faces, less dates equal less money for the talents, so they let both men out of their deals. At this point, TNA is a wrestling company that produces a TV show as opposed to being a full on wrestling company with live events and they are changing the way they operate to reflect the new reality of what their business is.
Both men have the opportunity to come back and work the tapings and be members of the promotion’s TV shows, while at the same time they are able to book outside of TNA. If WWE wanted to make a play for either man, they could do so and TNA realizes that.
Austin Aries contract with the company expires after Slammiversary, so he will be in the same situation as Storm and Magnus. TNA doesn’t have the revenue it once had in the past, so they won’t be in any position to offer guarantee contracts moving forward.
Source: PWInsider.com