This week saw a tremendous TNA World Title match between champion Eddie Edwards and challenger Lashley on Impact Wrestling. But instead of a wrestling match being the sole focus of TNA Wrestling, many eyes were on the result of a court ruling earlier this week and the continued dysfunction in the company.
On Monday, a Tennessee judge ruled that Billy Corgan was unable to prove that TNA was insolvent and said the agreement Corgan made with Dixie Carter to take over the company was not legal. In the end, Corgan was completely shut out in the case, leaving the company in the control of Dixie Carter. Corgan responded to the results of lawsuit on his Twitter page with the following statement.
“For those asking, I’m in no way disappointed in the judges ruling regarding TNA. Rather, I’m grateful the judge considered the case. It’s important to note is [sic] these proceedings have brought forth facts which illuminate business practices I have fought against for a reason. And I suggest that a careful reading on the judge’s ruling supports there can be no claim of victory by anyone in a position of authority.”
So the story ends, right? Not even close.
It was announced that Impact Ventures (parent company of TNA) and Anthem Sports & Entertainment announced a credit partnership that will see Anthem fund TNA’s operations for the foreseeable future. Anthem, the parent company of The Fight Network in Canada, which broadcasts Impact Wrestling, will keep the doors open and keep things moving for the time being. In addition, Anthem Executive Vice President Ed Nordholm is now on the Impact Ventures Board of Managers.
“We have consistently maintained that investing in content as we grow our distribution is important as a strategic necessity, and working more closely with a strong brand like TNA is in line with that. This financing is an extension of the support we have been providing since the beginning of the year,” said Leonard Asper, CEO of Anthem. “There are tremendous opportunities to support the company’s growth on all platforms and in all media alongside Dixie and the incredible talent and staff at TNA.”
But wait, there’s more.
Corgan, who was TNA Wrestling President, was relieved of his duties with the company on Thursday, according to Anthem. This comes as the Nov. 1st deadline for the company to back Corgan’s loan that he gave the company (more specifically Dixie) was due. According to Corgan, that deadline came and went with no payment.
After seeing Corgan relieved of his duties from TNA, Senior Director of Creative Writing Dave Lagana announced his resignation from the company. Also this week, TNA lost its television deal in the UK, as Challenge TV announced it would not renew its agreement with TNA in 2017. Just when things hit a crescendo, current TNA Wrestler “The Miracle” Mike Bennett posted this on Twitter after the ruling on Monday.
Welp,back to bad business as usual ?
— Mike Bennett (@RealMikeBennett) October 31, 2016
We have Dixie Carter still in charge of TNA Wrestling with a new source of income coming from a TV partner. They are still not making money as the comany does not charge admission for its Impact Wrestling tapings and does not have a live show business to speak of. The story continues with TNA Wrestling and it seems that whenever you believe that the company is dead, they rise from the operating table after an electric shock. But the question still remains...
How many more lives does TNA have with Dixie Carter in charge?
