ProWrestling.net is reporting that Booker T was very close to re-signing with WWE, and most likely would have returned to the company at The Royal Rumble, however, negotiations fell through between both sides and an agreement was never reached.
According to the report, Booker T was demanding a much lighter schedule, which included working less house show events. He was apparently asking for a "Shawn Michaels" type deal, and WWE would not agree to the terms. Booker is currently accepting indy bookings through Bill Behrens at Showbiz@aol.com.