Pro Wrestling Since 1997

Menu

New TNA Owner?



Via alternativenation.net:

I have heard from a second hand source who is close to a key figure in the rumored TNA Wrestling sales discussions who has verified that Smashing Pumpkins frontman Billy Corgan is far along in his talks to purchase the company. This source went as far to say that he believes it is a “done deal” that Corgan will buy TNA, though the source didn’t know what percentage Corgan will be purchasing or the specifics of the deal. The source also says that Corgan has recently made a connection to somebody very wealthy, though it is not known if this party would have anything to do with the deal. Obviously with professional wrestling, you never know if a deal will actually go through until the ink is dry. Eric Bischoff and Fusient Media Ventures announced their purchase of WCW in early 2001 before TNT and TBS canceled WCW programming, leading to the deal falling apart and Vince McMahon purchasing WCW.

TNA Wrestling’s weekly show ‘Impact Wrestling’ airs on Thursday nights on SpikeTV and features stars like Kurt Angle, Sting, Jeff Hardy, and AJ Styles

Post Category: News

Tags: ,

42 Responses

  1. AJ Cooper says:

    Well, seeing as how Corgan has taken it upon himself to learn how to run a wrestling promotion (he founded Resistance Pro in 2011), he’s already more qualified to run TNA than Dixie.At this point, I wouldn’t mind him buying Panda Energy’s stake in TNA. If it happens, not sure if he’d run TNA alongside RPro. Of course, if he doesn’t, I would hope he’d have the intelligence to hire a wrestling promoter to run the company (maybe someone along the lines of Jerry Jarrett). Who knows, TNA may have finally found its savior. I mean, RPro seems to be quite successful so far. So, look like Mr Anti-TNA & his WWE fanboy troll buddies won’t be seeing their wet dream come true after all. So now, they can go back to kissing VinnyMac’s ass while they watch their favorite company relive its past & turn its back on what brought it into the mainstream.

  2. killpg says:

    Que the fanboy comment war in 5.4.3.2.1……….

  3. bill says:

    that’d be pretty awesome

  4. matt says:

    He’s probably a front man for Hogan lol jk

    Interesting to see how it all plays out

  5. Drew says:

    If this is true, I’ll start watching TNA again.

  6. Brian says:

    RPro is awesome, they put on great shows. If this is true I just may start to watch TNA again.

  7. AJ Cooper says:

    Actually, Matt, as someone on another site pointed out, the fact that Hogan has NOT been re-signed to TNA yet shows that Hogan isn’t an integral part of Corgan’s buyout.

  8. matt says:

    I was kidding lol

  9. Asterik says:

    LOL, Billy Corgan’s face on the picture of the link to this article looks like a troll face!

  10. Parallax says:

    Today is the greatest…day I’ve ever known.

  11. Lockhart says:

    based on the photo I thought Dr. Evil bought TNA

  12. AJ Cooper says:

    @matt

    I guess I didn’t read all of your comment. Sorry about that. But, the fact that Hogan hasn’t been re-signed actually IS quite interesting, as it could mean that Corgan isn’t as high on Hogan as “Ditzy” Dixie is.

    @Parallax

    An even greater day will come when Corgan decides to purchase Panda Energy’s controlling stake in TNA, as that means TNA & its fans would no longer have to deal with “Ditzy” Dixie being in control, plus TNA will no longer be in danger of her father’s incompetence. Would love to see how things would play out with him & Double J, as I believe Jeff still possesses a minority stake in TNA. Wouldn’t be too surprising, should Corgan buy Panda Energy’s stake, if Corgan replaced “Ditzy” Dixie as President with Jarrett, or even Jarrett’s father, for that matter.

  13. Matt says:

    Oh thank god, Jay Bradley will be back on TV a lot more often if this happens. hell yes!

  14. jeriholic says:

    Is it April 1st? I’m calling bullsh*t on this.

    Billy Corgan doesn’t have the finances to back a wrestling promotion, of TNA’s level.

  15. AJ Cooper says:

    @jeriholic

    It says in the article that there’s a possibility that someone wealthy that Corgan has connections with might be involved in the deal. If that’s true, then the financial situation wouldn’t be a problem.

  16. Scott II says:

    If this is all legit, and Corgan has done well with another promotion, I’d be willing to give him a shot. Who knows, if he is smart, then maybe TNA can get back on the right path that it has veered off of so long ago when Bischoff and Hogan had came aboard

  17. Scott Grady says:

    Until there’s an actual press release and not just a “secondhand source”, a certain TNA “fanboy” should hold off on popping the champagne. Like was mentioned, Eric Bischoff thought the WCW deal was signed. He’s even talked about how he took his family on vacation because he was going to be as busy as he was before. Yet, we refer to them in the past sense.

    Despite what some would like to believe, I would like for TNA to be around. I have worked shows with many extremely talented workers(including a couple who work or have worked for Resistance) that are hustling and taking any booking they can. A number two company would be great. No matter who buys it, I’d like to see things turn out for the better. However, I have my doubts based on history and what isn’t know about the intentions of the new owner(s), whoever they may be. For example, let’s say the Corgan does indeed buy the company. Who will he target as his audience? Where will he mainly target? Will it be the independent wrestling crowd that he goes after? Or will he attempt to go after the mainstream crowd that Vince has had since the 1st Wrestlemania?

    As a wrestling fan, I have had my hopes raised many times. Russo jumping to WCW in 1999. Bischoff and Russo working together in 2000. Ring of Honor doing regular PPV’s. The number of times with TNA. Each time, my hopes were high for success but ended up crashing. So, you’ll have to understand my being hesitant to do cartwheels and sing “Happy Days Are Hear Again.”

  18. DBRude says:

    I wish this WERE true. Billy, owning TNA, would make TNA a hell of a a lot more appealing than it is now!

  19. Steven Jackson says:

    Any man who would put his money into the sinking ship that is TNA is obviously either crazy or knows nothing about wrestling. This whole economic situation with TNA is just mindboggling.

    Oh and Dixie’s mother emailing talent telling them their jobs are safe shows that Dixie has no backbone.

  20. Really? says:

    Comparing this to Fusient and WCW is a bit off base. Spike/Viacom has not just been sold, so it’s not going to be under new management with a dumb-assed executive cancelling the network’s highest rated program due to his personal preferences. That’s what caused the Fusient deal to fall through.

    That doesn’t mean this story with Billy Corgan is true, and even if it is, I doubt he’s buying a majority interest. He’ll probably be buying a minor stake, maybe ten or twenty percent, so that Dixie can get her hands on much needed capital to try and right the ship.

  21. Scott Grady says:

    Using Fusient/WCW to point out that things can change is not off-base. It’s a fair comparison. For quite a while, the belief was that Fusient and Bischoff bought WCW.(They even did something on the Nitro before Spring Break where Bischoff was recognized as the guy in charge.) By the time of that Nitro, Fusient pulled out after WCW programming was dropped and Vince made a deal. Right now, a lot of people are already saying the deal with Corgan is done.

    I can see the theory about Corgan trying to purchase a minority share being true. It would make more sense. Jumping from running a two-year old independent group that runs once a month in one state to running a group that does weekly television, PPV’s, and house shows doesn’t seem like a smart business move.

  22. ~J* says:

    Uh somehow I dont see this as much of an improvement…good luck tho if true.

  23. Shockmaster Suplex says:

    Uncle Fester!

  24. Matt c says:

    Hopefully this means Hype Gotti will be in TNA soon !!!

  25. aag44 says:

    @Parallax: Awesome comment. You think they’ll sign the deal toniiiiiiiiiiiiiiiight, tonight, so bright??

Leave a Reply

Sponsors

Polls

The Undertaker's streak ends at Wrestlemania 30

Vote View Results

Loading ... Loading ...

Would you like to see The Rock vs. Brock Lesnar at Wrestlemania 31?

Loading ... Loading ...

Should Scott Hall be inducted into the GERWECK.NET hall of fame?

Loading ... Loading ...