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'The Phenom', real name Mark Calaway, debuted for WWE back in 1990 and has gone on to become one of the greatest wrestlers of all time.
His 30 years of service has earned him the admiration of fans and fellow wrestlers alike and he's one of the most respected names in the business.
The Wrestling Observer Newsletter per WrestlingInc have reported that Undertaker put pen to paper on the huge contract as it was 'an offer he couldn't refuse financially'.
Undertaker is currently 55-years-old and the contract will take him to a staggering 44-year career in Vince McMahon's company.
The deal is likely to be restructured into a 'Legends' contract down the line, which allows WWE to use their superstars of yesteryear for special appearances or new merchandise.
'The Deadman' last wrestled at WrestleMania 36 earlier this year in the critically-acclaimed Boneyard Match with AJ Styles.
A documentary series titled Undertaker: The Last Ride is currently airing on the WWE Network which gives an in-depth look into the often private Texan's career.
The first episode aired last week and a hot topic was the ending of his famous WrestleMania streak.
Undertaker went 21 consecutive WrestleMania events without losing until Brock Lesnar conquered the streak at WrestleMania 30.
The seven-time world champion recently discussed the iconic moment with Ariel Helwani and why former UFC star Lesnar was chosen to defeat him in New Orleans.
"Internally and the way this business works, I knew someday it would end," he admitted per WrestlingInc.
"In our industry, you don't walk away like Floyd [Mayweather], undefeated, or Rocky Marciano. It just doesn't happen that way in wrestling. It was always in the back of my mind that it would end.
"Although, most of my peers and people that I work with thought it was a horrible decision, and I just asked Vince, 'are you sure? Is this what you want?'
"He was like, 'if it's not Brock, who can beat you?' Alright, well, it's your call."
"Everybody thinks I have all this juice like I can say yes or say no," Taker continued.
"I could have said no, but what good was that gonna do? That really would have disappointed people. What do I do?
"I go out and throw a tissy and go, 'if I'm not going over, then I'm not going in.' That's not me. I'm business, and business comes first before anything personal.
"So I just double-checked he was sure 100 percent that was what he wanted to do, and that was the plan so I went with it."
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