Jim Ross posted the following on his blog, explaining his WWE status...
There is rampant speculation on the internet about my future. This is understandable as I've talked a great deal about it here on my blogs. Plus, it's provided various wrestling sites, etc with some nice cannon fodder over the past few weeks.
This matter is much more simple than many perceive. My WWE 'talent contract' has ended after a 17+ year run with the company.
However, I am still a WWE employee handling the same talent relations functions that I have executed for the company for the past few years including since moving to Oklahoma. I simply do not have a 'talent contract' as WWE has no plans to utilize me as an on air talent at this time.
The WWE engaged in talks with me on Thursday of this week to discuss a new job description that would include what I am now doing along with other talent relations oriented matters. I am considering this offer and I trust that a decision will be made soon regarding this opportunity.
In the meantime, I am still interested in a variety of projects and opportunities.
While some may feel that it is in their best interest that I not remain in broadcasting, I do not share in that belief at this time