TNA Wrestling has managed to survive for just a bit longer. It was reported last night that TNA would go forth with their upcoming television tapings, especially TNA Bound for Glory. Dixie Carter herself made the announcement about the tapings and PPV, which has been in question for the entire week due to the fact that the company lacked funds to even put on these shows. You need money for things to go, and with TNA not having any, they really needed a miracle to happen.
Apparently TNA prays to a good God, because now this buys them a lot of time. TNA will tape shows that will get them most likely through the middle of December, which means that they have more time to negotiate with people trying to buy up the business. Carter was backed into a corner and it felt like TNA was going to sell for a lesser amount than what Dixie wanted due to the pressure around her to make a deal.
Dixie has teased big things at the TNA TV tapings, which is not surprising because she talks up big announcements for TNA every other week now. Usually it is nothing of major importance, however, these upcoming tapings could deliver something of interest. The question is, how did TNA get funding? According to the New York Post, a yet to be identified company or person gave TNA the money to get things going. This must have cost a lot of money for them, which means we could have another bidder involved in this entire thing.
The Post went on to say that WWE was still very much in the picture when it comes to buying TNA Wrestling. This is not shocking to see, as Vince McMahon does want the business and would pay what he felt the company was worth. The major issue for TNA is simply the debt they’re in. Anyone buying the business is taking that debt on with the buy. WWE would escape a bulk of it due to the fact that they would release a lot of the talent and fire the entire office staff most likely.
A lot of people would be without jobs, so clearly WWE would save a lot of money with that. Meanwhile Billy Corgan or a possible mystery buyer would take on the debts and jobs of TNA, which may hurt them long-term. WWE could handle the situation because TNA would no longer be operational, so they would not worry about show costs or anything like that going forward. Others would have to worry about all of that.
Sinclair Broadcasting, the people who own Ring of Honor, would have a similar situation to WWE. They would shut down most of the company and keep the television contracts for ROH. They may even take on some of the talent, which would help them out a good bit due to the fact that at least they have television experience that some of the ROH guys do not possess at this point in their careers.
The NY Post noted that “no doors are closed” for TNA when it comes to a possible sale. Everyone could still be in the picture to buy, but this funding may allow Dixie Carter to at least not feel too trapped into taking a deal she doesn’t like just to avoid problems. She does not want to end the business, so companies like Sinclair and WWE are obviously not her first choice but they may be the best two options out there.
It was noted this past week as well that Vince McMahon is willing to wait and see what happens, similar to what they did with WCW. They managed to win out big time in doing this. Many buyers were in play and things stopped people from buying, so there WWE was to pick up the pieces and buy WCW for $2.4 million, a mere fraction of their worth. The difference is, TNA is no WCW. WWE most wants their library, and they typically pay for each hour. This brings the cost to $8 million, which is probably the highest they would go.
Others may initially bid higher, but a lot of factors may stop people from buying. Billy Corgan for example is the first choice for all TNA diehards and workers, because it is guaranteed he would keep the company open. Well, sort of. He would for the time being but there is a good shot he has to sell in a few months if the debts are too much to handle. It was easy for him to throw in a little money here and there. It is a different animal owning everything. This is why WWE is willing to wait. They know Billy could still buy and sell and they would be right there to possibly bid even less. We certainly shouldn’t count anyone out. TNA has a little bit of time to spare, but the clock is still ticking for TNA’s long-term survival and a sale needs to happen soon.
[Featured image by TNA Wrestling]