Former wrestling champion and Hollywood megastar Davie Arquette has been signed to TNA Wrestling, according to anonymous sources within the company.

The signing represents a major coup for the promotion, given Arquette’s unparalleled popularity among wrestling fans, and the acquisition will likely help TNA surpass World Wrestling Entertainment as the premier company in wrestling.

Arquette held the World Championship Wrestling Heavyweight title in 2000, shortly after earning a “Best Actor” Academy Award for his career-defining performance as Gordie Boggs in the critically acclaimed film Ready to Rumble.

It is believed that Arquette will be revealed as the mystery man behind TNA’s cryptic #August8Warning campaign, which the company launched this morning on Twitter.

Details about Arquette’s contract are scant, but it is believed that a wrestler as popular and talented as Arquette will earn approximately $11 million per year, not to mention merchandise revenues.

TNA has also reportedly made multi-million-dollar offers to former basketball star Carl Malone and current child star Honey Boo Boo.