Wrestling Observer Radio reported that Undertaker's deal with WWE is expiring at some vague point in the near future, but that he is expected to sign a new Legends-type deal to remain under lock and key as that 'legend on standby' that Vince McMahon covets.
Undertaker's been rumored to have his retirement match next year at WrestleMania 32 in Dallas, about a week or so after his 51st birthday. If the new contract is long term and he's finishing up as a wrestler in 11 months, I imagine the contract will be both to 1) keep him around for DVD/Network testimonials and 2) prevent the greatest tell-all book of all time from being written.
Seriously, 25 years with the company. Imagine what Undertaker could reveal to the world of McMahon ever crossed him. Frankly, I'd love to hear about the meeting where the Undertaker character was pitched to him in 1990.
"Alright Mark, here's the deal: you're dead, but you're not *actually* dead."
"That's the stupidest shit I've ever heard."
"You'll get six World Titles, millions of dollars, and you won't have to do jobs at WrestleMania."
"Well now, that sounds good and all, but I have an odd request. Some day, maybe down the road, I'd like to carve up a pig farmer in a human sacrifice."
"That's typed up on page seven of the deal."
"It's like you've known me my whole life! Gimme that pen."