New Japan Pro Wrestling is attempting to sign Ricochet, someone that WWE hopes to sign later this year and someone that has an offer on the table from Lucha Underground. NJPW is desperate to "one up" WWE in some way as WWE has really been trying to damage NJPW at every turn since the two groups ended up on bad terms last year for reasons we previously reported here on WrestlingNewsWorld.com Premium.
NJPW is also trying to involve Ring of Honor in the process to make their offer even more enticing. ROH is very interested if they're able to piggyback on a deal where NJPW would be Ricochet's top priority, while also working ROH dates when able, similar to the set up AJ Styles had. Things are tricky right now as there is confusion over when exactly Ricochet would be free to sign with anyone. He has an out clause after the third season of Lucha Underground, but there is a non-compete, which may or may not be enforceable.
Ricochet isn't taking bookings after June and everyone expects him to sign with WWE after his already scheduled NJPW tour. WWE is Ricochet's preference right now, but a combined NJPW/ROH deal would be more lucrative than what he'd make in NXT. Right now, nobody is making official offers and they're waiting for his LU deal to run up. But with NJPW no longer seeing Daniel Bryan as an option, their interest has gone way up in terms of trying to get Ricochet full time.