According to Konnan

When former TNA and WCW Konnan was interviewed on MLW.com 

podcast . Konnan said that Jeff Jarrett left the company because it was in terrible shape. Konnan reveals Jarrett said he will be making a new promotion with someone who was described like Country Music Star Toby Keith. Jim Ross also might be involved with this company as well.  As he tweeted he had a major sports concern and also when a fan tweeted him about it his reply was "Hmm"! Which could mean Good Ol' J.R might be going somewhere e