TNA reportedly restructuring contracts; Velvet Sky, Bully Ray and others possibly leaving

Rumors have been flying for weeks now that Total Nonstop Action (TNA) Wrestling has multiple wrestlers with their contracts coming up, such as Velvet Sky, Bully Ray and Devon. PWTorch.com has now officially reported that Sky is "on her way out of the company" but the Wrestling Observer is saying TNA is still making a strong play for her.

Matt Morgan is said to be 100-percent gone, as he continues to tease fans on his Twitter account that he's heading to WWE and his TNA career is over, at least for now.

As for the others, like Ray and Devon, Dave Meltzer reported on his radio show that Bruce Prichard has been restructuring contracts in order to save the company money. That may be a smart business play but TNA signed talent are apparently very unhappy about it.

As Bryan Alvarez hypothesized on the same show, it's possible the wrestlers believe TNA is using the current lawsuit against WWE, which dictates that WWE won't be signing any TNA talent, to lowball the wrestlers, though Meltzer believes that may not be the case.

It's also likely that the move to the live format, which has cost plenty, could have to do with the idea of restructuring these deals. Still, it's likely Ray will re-sign seeing as he's far too valuable to the company right now to let him go. Devon may not be as safe and Sky could be gone if she decides that's what she wants to do but TNA has to know she's one of their best Knockouts.

We'll have to wait and see. The next month or two could be a very interesting time for the number two pro wrestling promotion in the U.S.