TNA Wrestling has been in the news a lot over the past month, but the last few days have seemingly been all about TNA due to various issues going in on the company today, and each day sees things get worse. Last week into this week, TNA finished up their television tapings. This is supposed to help them until the middle of December, which most felt would be long enough for TNA to come to an agreement with someone over selling the company.
However, it seems the prime guy to buy TNA in Billy Corgan is not happy and has decided to push for something big to happen. There have been several disagreements backstage with Billy and TNA Chairman Dixie Carter. Carter and her family own 70 percent of the business, which gives her full control over the company and what happens to it. The problem is that this has driven TNA downhill for years.
Corgan has seen this and wants to get the company before things get worse, but nothing has happened as of yet. Corgan has now decided to sue TNA and everyone who matters so that he can get something out of the company he invested in. Not only has the TNA President decided to do this, but now the state of Tennessee has filed a lien on TNA due to unpaid taxes. It is rumored that the company could own a quarter of a million dollars to the state; however, this number has not been confirmed.
The major issue going forward due to this is the future of the business. With all of this against TNA, it seems that Corgan is not trying to buy TNA and may very well back away from the thought with all the tax issues going on. It is said that the state has the right to seize the property of TNA if things get to a certain point. The future of TNA is certainly a hot topic backstage and obviously with fans around the world. With all of this happening, many are concerned about getting paid.
Now according to The Wrestling Observer, TNA wrestlers may end up opting out and becoming free agents if they do not see payment within a certain period of time. The Observer states that talent has yet to be paid for their time at the recent set of tapings, and although payment is usually seen in two weeks from the end of the taping schedule, there is uncertainty. If TNA does not pay by a certain time next week, the talent could file for a breach of contract which would make them automatic free agents.
There are several guys and girls who have interest in joining other places and of course many places want the workers too. The top guys and girls may be the first on the list to get payment, but there are others who will be paid later on and those people may be the ones who decide to walk away. Even some of the top names may not get paid on time and could file, which is why one would assume TNA would try their hardest to get payment out as soon as possible to everyone, especially their major talent.
However, there is still some risk because of all of this going on. If the state of Tennessee decided to seize the TNA property until TNA’s debts are paid off to them, then the company may not pay anyone…much less the talent. This could happen very soon as well, so we have to wonder if everyone will leave knowing they finally have an easy out. This may not seem like the most noble thing to do with a company, but if you have an open job waiting for you in another place, then there is no reason to stay.
If they leave, these TNA workers could sign with another company immediately. The breach of contract allows them to get out without using a “no compete” on the company’s end. That means once they are out, we could see one end up on WWE RAW or SmackDown Live the very next week. The question is if TNA will find a way to sign them. If they do manage to do this, the wrestlers cannot leave until their respective deal ends as usual.
[Featured Image by TNA Wrestling]