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The New York Post featured a piece on Billy Corgan seeking to purchase the majority ownership of TNA Wrestling, noting that both WWE and Sinclair Broadcast Group - owners of Ring of Honor - have also made recent offers. PWInsider.com had noted in the past that WWE was interested in the TNA library should the company opt to shut down operations and Sinclair's interest in TNA has been well documented.
The article noted that part of the issue Corgan faces is that there are numerous entities with ownership stakes in TNA, including Dixie Carter, Aroluxe Marketing (which gained ownership shares in lieu of payment for production work on TNA TV and PPV tapings) and The Fight Network in Canada, which had not been previously revealed publicly. In asking around, I was told they have a small stake stemming from the deal they made for worldwide rights to the TNA library last March.
Corgan told the New York Post that he hopes to have a deal completed by the 10/2 Bound for Glory, noting, “I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it’s going." Corgan has made several investments into the company in the last six months, the most recent resulting in him being named President of TNA.
Corgan acknowledged there are "lots of people" at the table for TNA ownership. As PWInsider.com noted several weeks ago, Aroluxe's exclusive window to purchase the company expired on 9/1. He told the Post that all the relevant parties have agreed upon a price for the company, but did not disclose what that price might be.
To read the New York Post article, click here.
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