Billy Corgan replaced Dixie Carter as TNA’s President back in August, where Carter became the company’s Chairman and Chief Strategy Officer. In the months that followed, TNA have suffered a myriad of reported financial issues. They only secured funding for their biggest pay-per-view of the year Bound for Glory just days before the event, and WWE have reportedly been trying to buy TNA’s tape library. Although The Wrestling Observer now say Vince McMahon has lost interest.
The Wrestling Observer are also reporting that the relationship between Corgan and Carter right now is “super heated” and that Dixie has made a “real mess” of the company by borrowing a lot of money and putting up ownership stakes to secure quick funding. TNA is said to be in a “disastrous” place right now, and there’s a lot of backstage heat on Carter for getting them into this state.
Which might be why Corgan filed a lawsuit and temporary restraining order against TNA, its parent company Impact Ventures LLC, Carter, her husband Serg Salinas and TNA’s Chief Financial Officer Dean Broadhead.
PWInsider are reporting that Corgan filed the lawsuit on the 12th October, and that a hearing for a temporary injunction has been set for the 20th.
But wait…there’s more!
PWInsider are also reporting that TNA’s former production company Audience of One have also filed a lawsuit against Impact Ventures – which is TNA’s parent company – for outstanding payments dating back to late 2015. They’re seeking $223,000 plus interests and post-judgement costs.
Off the back of this lawsuit, SEScoops looked up TNA’s debts on file with the Tennessee Secretary of State – which is where the source of Bound for Glory’s last-minute funding might have been revealed.
The day before Bound for Glory, TNA reportedly secured money from a third party that was neither Billy Corgan or WWE to put on their biggest show of the year and the subsequent week’s worth of TV tapings. Looking at the debt records, SEScoops notes that Impact Ventures owes MCC Acquisition Corp as of the 30th September, the Friday before Bound for Glory – which shares the same company address as The Fight Network’s parent companies.
And it ain’t over yet. While they were there, SEScoops also searched the files for Dixie Carter, where they found this:
A document that shows Carter personally owing Billy Corgan money as of Tuesday. The day later, Corgan filed the lawsuit.
What is going on with TNA right now? Tell us what you think will happen in the comments below.