It is ridiculous but I guess they can try and do whatever they want to generate interest. It's been reported online they contacted Randy Savage's brother to induct him into their HOF.
Which is TNA trying to capitalise upon WWE's decision not to induct Savage into their HOF. Whilst I have no doubt that Savage will eventually get the WWE HOF treatment, TNA possibly sees Savage's omission as an opportunity to stick it to WWE, in which case this isn't about honouring Savage and it pisses me off when this stuff happens.
It really got to me the fact that WWE used Eddie Guerrero's death as an opportunity to make some more money and they sweetened this by signing Vickie Guerrero to a lifetime deal (reportedly Vince is trying to get out of this), offering Chavo Guerrero a world title push (Chavo decline) and then offering Rey Mysterio the same (who accepted) and finally using Eddie Guerrero as a catalyst to enhance audience reactions (Batista and Randy Orton were both instructed to use Eddie Guerrero as a means to garner face love (Batista) and nuclear heel heat (Orton) during the feud with Rey Mysterio).
I think this kind of practise is incredibly shitty, but the promotions don't seem to really learn from it.
Ric Flair would probably be another nominee.
Agreed, it would if it wasn't for Flair's recent behaviour and contractual disputes with TNA.
Hulk Hogan (even though he doesn't deserve it).
They probably wanted to do so, but I get the feeling Hogan either refused or somebody thought it would be a bad idea to do it straight off the bat, given that Hogan is depicted as being partly responsible for the event.
Mick Foley. Booker maybe.
TNA would try, but WWE would never allow it, despite the fact TNA allowed Ric Flair to be inducted into the WWE HOF alongside the Four Horsemen. The best TNA are going to get is Christian's brief appearance, that was just WWE returning the favour in a no-risk sense given that they don't consider TNA a threat, but won't help them by allowing them access to contracted stars except in unique situations (Flair's Horsemen induction)
The reason why I stated that I doubt Sting would want to sign with WWE now, is because Vince has made the HOF offer to him when they attempted to sign him last year. There's not much incentive for him to go any more now that he's in the TNA HOF.
I think that when Sting's TNA contract next comes up and IF he feels that he's got only one or two great matches left in him and IF WWE were willing to give him an opportunity to work Wrestlemania against Undertaker or someone of similar reputation with respect to Sting's character, then I reckon he would sign on the dotted line regardless of whether he's part of the TNA HOF or not.