Billy Corgan is taking over.
Corgan, of Smashing Pumpkins fame, has continued to move up in TNA. As of August, he has assumed the role of president of the promotion.
But the 49 year old, Elks Grove Village, Illinois native is looking to do more with the company. He wants to eventually work for himself, so to speak. He wants to buy TNA and said as much in a recent video on The Smashing Pumpkins Facebook page.
"It's pretty interesting when the source that's behind this particular story is also the source that once said I couldn't afford to buy the company, which is pretty funny because I'm actively engaged now in trying to buy the company. Take that for what it's worth. I'm not saying I will buy the company, I'm saying I'm trying to buy the company and actively engaged in negotiations to do so. It's a very complicated process. I'm not saying I'll be able to pull it off but I hope to, and I hope to report somewhere down the line here that not only am I running the culture of the company but I'm not actually running the company top to bottom. I hope to make that possible. If not, I'll tell you what happened and why," Corgan said.
It’s no secret that TNA has been in financial turmoil for a while now. Corgan as a potential buyer could make sense, but the price tag for the wrestling promotion is a mystery. Allegedly, Corgan has a net worth of $50 million. But a possible sale, as well as Corgan's financial situation, are both speculative and unconfirmed.