WWE has had an offer on the table for Ric Flair to return as a regular television character, which recently led to Flair getting scheduled for a full cardiovascular physical before the company would use him on TV. Flair has been working out, currently weighing around 230 pounds, and wants to get down to 225 lbs. before his TV return.
As far as what role Flair will play when he does return, there’s been some discussion of putting him with The Miz. The feeling is that Flair could help elevate Miz to becoming a top-tier performer for the company, although some are of the belief that pairing Flair with Miz would be wasting Flair’s value.
Flair himself has reportedly requested to manage Dolph Ziggler, although WWE hasn’t seemed to want to push Ziggler lately, so it’s considered unlikely that they will go with a Flair-Ziggler duo.
It’s worth noting that Flair’s deal with WWE requires the company to approve all of his appearances, which has led to some issues recently with Flair reportedly being involved with negotiations to actually return to the ring for an overseas non-WWE wrestling tour. Many are of the belief that those negotiations will not actually come to fruition, as many assume WWE will never allow it.