There has been a lot said about the status of TNA Wrestling the last week. No one really knows when this story will conclude, but we can be sure that things will get very interesting today and into the weekend. It was said before that TNA had until Friday to make a decision on where the company had to land. Today happens to be that day, yet no announcements have been made, as of yet. We did get some possible updates on this from both TNA President Billy Corgan and Dixie Carter, majority owner of TNA with Panda Energy.
First, Dixie went to Twitter and had this to say about the future of TNA.
“Look forward to sharing news soon! @IMPACTWRESTLING has the BEST fans & and an amazing show on NOW #ImpactOnPop”
There wasn’t much there, but it did give us something. The fact that she acknowledged an announcement will come soon means that we will be getting something soon. The hope is that TNA Bound for Glory will go down at least. Corgan said he would love to announce something with him taking over at the event, but as of now things are uncertain. Corgan spoke to Dan Le Batard of ESPN Radio yesterday, in promotion for BFG. He had some interesting things to say regarding BFG and TNA. He claimed that it was true the WWE and Vince McMahon were involved in the bidding for TNA. When asked if he could win a bidding war with WWE, he said no and that there is “nothing anyone can do to stop it” if it got to that level.
He said that things in TNA were complicated due to the current state of pro-wrestling overall. He said it is harder for wrestling promotions to make the same ad revenue as similarly-rated shows, or even shows with lower ratings in a different category. He said that nothing had been finalized with a sale to anyone, especially WWE, just yet. Corgan claimed if a deal were to come to pass, he would be one of the first to know due to his stake in the business.
Billy noted that Vince McMahon and WWE are the only ones who seem to have “a winning philosophy.” He went on to say that if he gained control of TNA, he would lead things in a different direction, but that it was easier said than done. He would explain that several people own a stake in TNA and everyone has different ideas on what to do with the company going forward. This puts him in a bit of a pickle, obviously.
He would then note that he was not 100 percent sure as of now that TNA Bound for Glory was going to happen and said that he hoped for another miracle to occur. Corgan would go on to say that the talent told him not to take a bad deal at the end of the day, mainly out of fear that the situation would just repeat itself in a few months from now. Corgan noted that he believes everyone involved in negotiations are trying to avoid a situation where everyone is out of work. Obviously if TNA is sold to Sinclair Broadcasting or WWE, at least 100 jobs will be lost across the entire TNA company. The miracle Billy hoped to see did happen. Dixie Carter has since claimed Bound for Glory will occur, as well as upcoming tapings, but this was already assumed even if a sale occurred. This was obviously the announcement she teased.
That said, everyone in TNA hopes the company goes to Billy Corgan so that they can keep their jobs. The main issue is the debt TNA has. Whoever buys it will take on those millions of dollars worth of debt, which is what is truly hurting TNA in their sale right now. Some believe WWE didn’t want part of this due to the debt being present. However, most of that could be wiped out by cutting the jobs TNA has right now. It was said as well that if WWE bought TNA, they would be open to them finishing their TV tapings and Bound for Glory PPV to end things right.
It is worth noting that The Wrestling Observer claims Dixie Carter is making a mess of things in negotiations. That said, we may see some on again-off again material with people who want to buy TNA Wrestling right now. However, the story is the same. Three parties are involved in Billy Corgan, Sinclair Broadcasting, and WWE. All want it for different reasons, but still valuable reasons. A sale is happening soon. Who it goes to is still a toss up, however.
[Featured Image by TNA Wrestling]