TNA Wrestling has been in the news a lot lately, and it has been both good and bad for the promotion. They have signed some young stars and even re-signed a few people as well. Despite this, there continues to be talk of financial trouble in TNA. Fans, as well as the company itself, have tried to push these claims off, but it does appear that the company has been going through some financial problems. The good thing for TNA is that they have investors to help them out.
Rumors claim that the Harris Brothers are helping the company a lot financially, and they’re interested in buying up a large part of the company. Ideally, people want to see any investor get at least 51 percent of the company. Sadly, TNA President Dixie Carter does not want to lose power or creative control. This means the company would only part with 49 percent max. Sinclair Broadcasting, parent company to Ring of Honor, was rumored to have interest but like others, they would ideally want 51 percent too.
This problem of the high percentage remaining with the current establishment has pushed many investors away. The reason the Harris Brothers are seemingly open to the idea of only 49 percent may be due to the fact that they are already involved with TNA. Regardless, TNA is trying to set up a way to improve the promotion. This means they have to do a few things to prepare for this action.
According to The Wrestling Observer, TNA is currently trying to restructure contracts of most every current talent. This restructure would put all bookings of a talent under control of TNA once again. TNA had been allowing talents to work independent shows for some time, and many could do them without permission of TNA as long as they fulfilled their TNA commitments. This restructure would make most talents exclusive to the promotion, but that does not mean the talents won’t work some independent dates. In fact, the company would get a percentage of the booking fee if they do.
Some feel that this might be a very good reason as to why people are leaving TNA. With pay for talents going down from what it was, this was already an issue. If TNA was making talent re-sign with this clause of becoming exclusive, it may have pushed talent away even more. With all the uncertainty, some older TNA talents may not be trusting of what TNA would do, especially if they were not considered “top talent.”
Others that are top talent have to be offered a lot more money on their contract in order to sign, and it seems TNA would begin to go that direction. It was said that Matt and Jeff Hardy make thousands at independent events, even for one night of work. Several nights allow them to make a handsome living and the TNA money is just a good way to stay on television and make a bit of extra cash on the side. TNA would have to offer those two a much higher deal to keep them.
Many feel that TNA is doing this due to the potential sale of the company. It is said that they can use these exclusive workers as assets, so that whenever they do want to sell the company (if ever), they’ll have something to throw in and sweeten the deal for possible buyers or major investors.
Of course, a lot of this, paired with rumors going around in TNA, have made talent ask questions. They want to know why TNA is wanting to restructure their contract, but they have not been given much of an answer. Talent has also not been given much of an answer regarding investors or even a possible sale. Sources told WON that whenever there is an investor or new owner, Dixie Carter and John Gaburick would most likely remain in control.
On top of all of this, it is being said that talents have been told to hype up how good morale is backstage on social media to try and push off rumors about problems within TNA Wrestling. One source told WON that he was supposed to do this as a talent, but chose not to. In regards to morale, the source claimed “for the people who have been with the company for a long time, it was the worst ever.”
[Image via TNA Wrestling]