At this point I think it's common knowledge that two weeks ago at a set of NXT TV Tapings former TNA wrestler James Storm fought in a match. Most people thought that James had signed a contract with WWE but that isn't the case as it seems like it might have been a one of appearance that could turn into something more. Apparently the WWE has been interested in Storm for a while and wanted to offer him a contract similar to Rhino's contract, but to this point Storm hasn't accepted the contract.
As of this writing the only thing agreed upon between the two parties is that Storm would work the TV taping from earlier this month, the WWE wants him to work the upcoming taping later this month as well but nothing is confirmed. Another thing I can say is that once TNA caught wind of WWE's offer they upped their offer to Storm and at this point Storm is just thinking. The thing I don't understand is both the main roster and NXT can use a boost and if Storm is getting a Rhino deal then he will likely not be seen on the Main Roster at all. This signing would be great for NXT, but how are they going to help the main roster. But I will add that it is quiet strange to see both companies interested in the same talent it becoming known.