Update on Billy Corgan and TNA Ownership, Rumor on WWE Putting In a Bid for the Sale of TNA

The New York Post has an article on Billy Corgan and how he’s working towards becoming the majority owner of TNA parent company Impact Ventures. It was noted that Corgan, who became President back in August after investing in the company, is hoping to have the new deal done on October 2nd, the night of Bound For Glory. Corgan said:

“I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it’s going.”

What’s interesting about The Post’s article is Corgan saying there are still “a lot of people at the table.” The Post added that WWE and ROH parent company Sinclair Broadcasting are rumored to put in recent bids for TNA. This is the first we’ve heard of either group being interested in purchasing TNA.

The Post adds that a complicated ownership structure is posing challenges when it comes to getting every stakeholder on the same page. Besides majority owner and Chairwoman Dixie Carter, Corgan, Aroluxe Marketing and Canada’s Fight Network all have equity stakes in TNA. The Post reports that TNA is so financially strapped that working-capital provider and investor Aroluxe has reportedly taken over their “TNA” trademark.

Corgan says relevant parties have agreed on a sale price but he would not reveal numbers. The Post estimated that the sale could be for around $40 million, based on WWE’s market value of two times revenue. UFC’s $4 billion sale to WME-IMG factored into his math. Corgan commented:

“You ultimately have to rely on your own calculus about what something is worth.”

In regards to the WWE rumor, we’ve reached out for comments and will keep you updated.

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