Some major changes in the wrestling world could be going down rather soon.
A report from Wrestling Observer Newsletter surfaced, claiming that Smashing Pumpkins frontman Billy Corgan was looking to gain a complete buyout of TNA. Corgan said that nobody has asked him about such rumors, which would see him buying out Dixie Carter and Aroluxe. He outright denied working with any investors to buy the company, and said if he does buy it, he'll be the only investor.
A new report from the New York Post claims that Corgan is in negotiations to purchase Impact Ventures, contrary to his statement. “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,” Corgan told them.
The Post says that Corgan wants to become majority owner to the company by the October 2 for Bound for Glory. Corgan says that everyone involved has agreed on a sale price, but the ownership members -- himself, Aroluxe and Dixie Carter need to be on the same page. The Post mentioned that TNA is having financial difficulties since Aroluxe took control of the TNA trademark.
A major wrinkle in this story is that the Post also claims that both WWE and ROH owners Sinclair Broadcast Group made bids for TNA, claiming that the company's value is 'around $40 million.' When Fightful.com asked around, we were told by several sources that the $40 million reported by the New York Post "is nowhere near true."
