Dude, if King is not currently contracted by TNA this is a uber bad business move by King and TNA. King opted out and blackballed himself, before actually getting a contract is retarded. Now TNA can pay him less than the ROH was, since ROH won't take him back. And the WWE is not going to touch ex TNA talent right now. Checkmate.
And WTF is TNA doing here? You could say it's smart business/cheap labor, but all that really does is isolates ROH talent, who might have considered going to TNA and now after they saw King screwed by TNA and blackballed ROH, TNA closed that door of trust to snag future talent.
Keep in mind I'm assuming that King didn't get a contract, though.