His contract actually expired a few weeks ago but they were able to work out an agreement for Hennigan to stick around for a little while longer so he could wrap up his storyline with Rich Swann at Slammiversary.
Although Hennigan is no longer under contract with Impact Wrestling, the two sides are still talking and there’s always a chance that he could sign a new deal or at least extending their relationship for a little while longer.
The 39-year old former WWE Superstar has turned into one of the top stars on the independent scene thanks to his work in Lucha Underground and Impact. It would not shock me if WWE or AEW reached out to him to see if there is interest in signing with them. WWE, in particular, is offering big money to keep names like Hennigan away from AEW.
His wife, Taya Valkyrie is the current Impact Knockouts Champion and her deal with the company expires at the end of this year. Considering that Impact Wrestling is working on a new TV deal, keeping Hennigan and Valkyrie should be a priority for them.