Hulk Hogan's return to WWE has been rumored for some time now, but it appears the Hulkster is now closing in on a new deal with the company.

According to TMZ Sports, when the WWE was planning their "Greatest Royal Rumble" event in Saudi Arabia, one of the members of the royal family specifically asked for Hulk to participate. WWE didn't oblige, but the request reportedly opened a dialogue between Hulk and the WWE.

Per TMZ Sports:

"Hulkamania could once again run wild in the WWE -- TMZ Sports has learned plans to bring Hulk Hogan back to the squared circle are currently underway."

"We've learned ... Hulk and high-ranking WWE officials have been in touch recently and it's been positive."

Hogan was banned from the WWE in 2015 after footage containing him making racist remarks was made public. Hogan, who was upset with his daughter Brooke dating a black man, used the n-word several times in the tape and said, "I guess we're all a little racist," according to Wrestling Inc.

Hulk made an appearance at the HBO/WWE "Andre the Giant" documentary premiere in Los Angeles, California in March, but the company made it clear that he was not back with the WWE just yet.

"Hulk Hogan is an important part of Andre the Giant's history, however his appearance at tonight's HBO premiere of the documentary and his plans to help others learn from his mistakes does not mean WWE is rehiring him. Hogan is not scheduled to be at any upcoming WWE events."

Still, all signs point to Hogan signing a new deal with the WWE in the near future.