The WWE has reportedly contacted Chris Jericho for a return to the squared circle, but "Y2J" has turned them down while the company is also working on a new deal for oft-injured talent Rey Mysterio.

Sheamus Involved In Backstage Fight With Sin Cara?

According to Wrestlingheadlines.com, the WWE called Jericho about a possible return to the company this past week, but Jericho turned down their offer. According to the report, Jericho told them he had too many schedule commitments and other projects coming up right now to return to the rigorous travel and schedule of the organization.

Jericho has kept busy with his band Fozzy and even has a podcast Talk is Jericho on Podcastone.com that he records twice a week, among other things.

Ultimate Warrior's Merchandise Out-Sells John Cena In April

While Jericho could always eventually return sporadically as he's known to do, it doesn't appear as though a comeback to the WWE will materialize anytime soon. Jericho's music and acting ventures have kept him from being a full-time competitor over the last few years, so he has signed short-term deals here and there to pop up with the company for short runs.

"Y2J" was last seen with the company last July where he was attacked by Ryback and written off television to conclude his run so that he could go on tour with Fozzy. Jericho's last run has been criticized by many fans from a creative standpoint because he suffered loss after loss, including a high-profile defeat at the hands of Fandango at WrestleMania XXIX in New Jersey.

Another Superstar the WWE is negotiating with is Rey Mysterio, who met with the company at WWE headquarters to work out a new deal on April 30. Wrestlingheadlines.com reports that there is no word what came out of that meeting, but the WWE is likely headed in the direction of inking Mysterio to an ambassador's deal.

The WWE is looking to have Mysterio wrestle only part-time while being an ambassador for Spanish television. While his situation is up in the air due to injuries, WWE CEO Vince McMahon reportedly really wants him back on WWE television soon.

While Jericho is a long-shot to return in the near future, Mysterio could be back soon.

For more content, follow us on Twitter @SportsWN and LIKE US on Facebook