As noted prior, Billy Corgan had serious interest in purchasing TNA Wrestling from Dixie Carter. Corgan recently became the President of TNA and had big plans to try to turn around the company. It seems like things have gotten ugly between the two sides.
According to a report from PWInsider, Billy Corgan is now suing TNA:
“After months of speculation as to what was going to happen with the company, its ownership and its finances, TNA President Billy Cogan filed a lawsuit against TNA Impact Wrestling, its parent company Impact Ventures LLC, TNA Chairman Dixie Carter, TNA Chief Financial Officer Dean Broadhead and Carter’s husband Serg Salias on 10/12 in the Chancery Court of Nashville, TN” (Source: PWInsider.com).
Not many details yet on what is happening or what it is all about so we will have to wait and see.
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It was rumored about a week ago that WWE would possibly be purchasing TNA’s tape library and Corgan would take ownership over the company. His plan was reportedly to re-brand from the TNA name and change-up a lot of things.
It looks like things have turned ugly and this could drag out for a while.
More on this as it comes in. Let us know your initial reaction.