Billy Corgan appeared on Busted Open Radio to discuss TNA’s immediate future – like, will the promotion even be around come Bound for Glory this Sunday? He said that although he can’t legally talk about any of the things going on right now, he is trying to acquire a majority share of the company – all but confirming Dave Meltzer and PWInsider’s reports from earlier this week.
Even so, Corgan revealed there are still a lot of people at the table for TNA’s potential sale – like WWE, and Ring of Honor’s parent company Sinclair Broadcasting. Corgan admitted:
“It’s reached a point where it’s going to have a transformational moment…whatever’s going to happen this week, or this weekend… it is definitely going to change the direction of the company forever.”
Corgan went onto say this could either mean TNA ends completely, or it begins a new era, presumably being rebranded under a new Corgan ownership. Either way, TNA is facing a major development in the next few days.
When Corgan was asked about if Bound for Glory will actually happen this Sunday, he revealed that he had to step in at the last minute to fund the last three sets of TV tapings, so he’s used to being in this situation – but it’s not up to him anymore. The Wrestling Observer Newsletter is reporting the final decision is down to current owner Dixie Carter, and that she’s going to make the best deal for her – which actually might not be WWE, because…
“WWE isn’t going to buy without a non-compete and what they are offering is very little.” – Dave Meltzer on Twitter.
Corgan revealed his bid has no other investors involved, and that he’s trying to buy TNA with his personal wealth.
So how much is Corgan worth, and is that enough?
WrestleZone are reporting that Corgan’s net worth is approximately $40 million. We still don’t know how much TNA is being sold for, but the sale price is almost a secondary consideration. The reported significant amount of debt the company has is the real issue. Apparently even if Corgan became the new owner, it still wouldn’t solve all of the company’s lingering financial issues. So as Taz said on his radio show, Billy might need to go smash a few more pumpkins.
But will Bound for Glory actually go ahead?
“I still remain very optimistic that come Sunday, I will be standing there in the ring putting over what’s about to happen. I will be in Orlando come rain or shine. I can’t speak for everybody else at this particular moment, but I will be in Orlando on Sunday.”
There have been rumours going around that TNA cancelled talent flights to Orlando for this Sunday’s Bound for Glory, but PWInsider says that’s completely untrue. Still, Wrestling Inc are reporting TNA talents and employees are very nervous backstage about the current situation.
Corgan is set to appear on ESPN’s Dan Le Batard radio show today, so we might find out more on a potential sale then.
If Corgan does save TNA, what do you want to see him do with it? Let us know your thoughts in the comments down below.