Billy Corgan reportedly wants to purchase TNA Wrestling , and various rumors have started to circulate that The Smashing Pumpkins rocker is set to bid for the company.
Corgan is a huge wrestling fan, having helped to develop Resistance Pro Wrestling, a Chicago-based franchise, where the likes of Colt Cabana, Rhino, and Matt Cage have gone toe-to-toe in warehouses and barns.
The singer and guitarist has been labelled as alternative-wrestling’s version of Vince McMahon, and he wants to take his fame in this circle to new heights by purchasing TNA Wrestling.
Brett Buchanan, who works for Alternative Nation , revealed over the weekend that a second hand source from TNA “has verified that the Smashing Pumpkins frontman Billy Corgan is far along in his talks to purchase the company.” Buchanan went on to state that “it is a ‘done deal’.”
However, it’s still unknown what “percentage Corgan will be purchasing or the specifics of the deal.” Corgan isn’t paying for TNA Wrestling out of his own pocket though, with the insider adding that he has instead “made a connection to somebody very wealthy” who would help Corgan in his endeavour.
Speculation also increased after Corgan’s friend, Lou D’Angeli, a former WWE employee, tweeted, “Is @billy set on buying @IMPACTWRESTLING??? I know he is pretty serious in at least partial, if not, majority ownership. #TNA.”
However, Corgan isn’t the only person who is interested in purchasing TNA Wrestling though. WCW’s booker and former head, Eric Bischoff, Jeff Jarrett, who founded TNA, WWE, and Viacom have been linked to the company.
Discussing TNA’s future in an interview in September, Jeff Jarrett reported that the Carter family, who currently own TNA, were aware of the immense financial losses but Bob Carter was still insisting on covering them with his own money.
Jarrett stated, “I am amazed, because when I was there, Bob Carter called me at least two to three times a week and said ‘I can’t lose any more money, Jerry’ and I said, ‘You’re needing to talk to your daughter, not to me. She’s running the place.’ So I’m amazed that they are in business. I think at this point, it’s safe to say that TNA will continue to be subsidised by Bob Carter until he dies. Then I think TNA will go the way of ECW and the territory days.”
Dixie Carter, a subsidiary of Panda Energy International, currently own TNA Wrestling, but due to the severe financial deficits they have received over the last 12 months they’ve decided to sell the company. They are currently looking to remove some of their wrestlers from their roster, while also reducing their pay-per-view schedule too.
[Image via Helga Esteb /Shutterstock]
