This should end all the rumors running rampant regarding Hulk Hogan working a match at WrestleMania 30 on Sun., April 6, 2014, at the Mercedes-Benz Superdome in New Orleans, Louisiana. According to the latest edition of the Wrestling Observer Newsletter (subscription required but recommended), "The Hulkster" couldn't get cleared by WWE after he was put through an examination:
As things stand right now, while Hulk Hogan will be returning, and making an appearance in some form at WrestleMania, after being examined, the company made the call to not only not put him in a match, but not book anything physical involving him. Hogan said that he was filming a Super Bowl commercial on 1/16. As far as when he comes back, it could be any time now. Perhaps they could tease it at the Rumble, and there's some talk of debuting him (as well as bringing back a lot of big names that weren't on Old School Raw) on the 2/24 Raw, the day the network launches when there will be a push to get the biggest audience possible and probably go off the air with something that you'll need to tune to the network to get more info on I'm guessing.
This comes on the heels of Roddy Piper telling Steve Austin that he was indeed trying to get WWE to book a match between the two to "settle some of their unfinished business". Instead, they'll have to find some sort of workaround, which could mean something as simple as inducting the WrestleMania 1 main event into the Hall of Fame, as has been rumored, or letting Piper and Hogan work as managers for two wrestlers acting as proxies.
Either way, it seems we no longer have to worry about Hogan getting caught up in the bright lights and dropping a big leg.