Things were quite interesting in the few months Billy Corgan was TNA’s president, but as the Inquisitr reported yesterday, the Smashing Pumpkins rock star no longer works for the troubled promotion. This marked another chapter in the soap opera that is TNA’s struggles to stay afloat, and that story has also included Corgan’s ongoing legal battles with the company and its chairwoman Dixie Carter. It’s proven to be a more intriguing real-life tale than what most wrestling writers can put out, and as we’re now learning, Corgan is still far from backing down from TNA, especially when it comes to the money he’s owed.
The news of Billy Corgan being out of TNA came straight from the company, as it issued a press release Thursday confirming that Anthem Sports & Entertainment has opened a credit line of sorts to help TNA continue operating. The press release also confirmed that Carter will retain her current positions within the company, but also dropped the bombshell regarding Corgan no longer being connected with TNA.
Following the official announcement, Dixie Carter also sent a letter to TNA’s wrestlers and other employees, confirming Anthem’s presence as a creditor who can “stabilize the company,” as well as Billy Corgan’s departure from TNA as president. According to PWInsider, Carter didn’t elaborate on the reasons why Corgan is out of the promotion but sounded optimistic about the company’s future as she concluded the letter.
“Over the years, we have built TNA and Impact Wrestling to be a very successful, global brand. You should all be excited for its future and be more determined than ever to work dilligently [sic] to take the company to the next level.”
Although both Dixie Carter and Anthem appear thrilled with the latest developments, it goes without saying that Corgan is far from pleased with what has just gone down. Right after TNA posted its press release, Billy took to social media, firing off a series of tweets that suggest he hasn’t gotten paid by the company as promised. As of Thursday, that payment was allegedly two days delayed, and Corgan claims that on Wednesday, TNA “asked for a day to ‘get money together'” for the outstanding debt.
In all, Billy Corgan believes TNA used Thursday’s press release as a way to stall for time, a “weapon” against him as he continues fighting the company in court.
Two hours after Corgan’s Twitter rant, Anthem fired back, saying via the Twitter account of child company Fight Network that Billy was “inappropriate” in his comments and that there is a “solid financial plan” in place to make sure he gets paid. The outspoken Corgan countered by criticizing Anthem for having a “propensity for press releases claiming victory” and “lying through counsel” He also retweeted a post from NoDQ.com, a parody of a clip from The Simpsons altered to reflect the money Dixie allegedly owes him.
While Corgan, who quipped that the amount is actually $2.7 million but still cannot “quibble with great art,” has maintained a sense of humor despite the hoops he has to jump through, the fact remains that his ongoing case is no laughing matter. Anthem tweeted that there’s a plan in place, but didn’t provide any timeline for the loan’s repayment, focusing instead on Corgan’s conduct on social media.
What’s next for Billy Corgan now that his run as TNA president is over? Given his lifelong love of pro wrestling, there’s a good chance he’ll remain involved in the sport in some way, shape, or form. As for the company he once worked for, we don’t quite know yet whether the Anthem deal is the lifesaver TNA needs, and it’s good as given that this won’t be the last they hear from Corgan, as he continues to fight for what’s due to him in court.
[Featured Image by Kevin Winter/Getty Images]