As we reported yesterday here on Fightful.com, things are still looking flimsy for TNA Wrestling.
We mentioned in our report regarding Billy Corgan, that while talent thought there was money for the Bound for Glory show this weekend, others within the company weren't so sure. According to Dave Meltzer on last night's Wrestling Observer Radio, the future of the company is in doubt. (Transcribed by RUChosenOne19)
"So… We still don’t have a deal. And time is running out. There’s no money to fund this week’s television and PPV. Um, WWE is back in the picture, which is a really interesting thing because with WWE in the picture, it could be over. And, you know, Dixie could sell to whoever she wants to sell too and I guess it’s become very complicated. Billy Corgan talked to ESPN and said, you know, he wanted to buy it but...and he’s got the money to buy it but its a complicated thing.. and he talked like it’s a deal that would take weeks to put together. And they don’t got weeks. They got like…I talked to somebody there and its essentially.. they got until Friday because that’s the last business day before Sunday. They can’t really, you know, get everything to the bank and get the money in and all that and be ready on a Sunday. It’s just not going to work. So they got a couple days to get this deal done.
Billy Corgan has also said that if he buys the company, he is changing the name of the company which, quite frankly, I would do. Just the feeling, it’s a tainted brand name and it’s just better to start with something else. Um, I would like to give it a little facelifting and get it out of Orlando, but, you know, financially, the last time they got out of Orlando, it cost them so much money that it really wasn’t worth it. And you know, they are really high on the Hardy’s thing. But everyday, you know, there’s talks going on, stuff going on and uh there’s not a lot of time.
If they sell to WWE, they are pretty much done. It’s pretty much it. You know, WWE would buy the tape library and um… there’s so much there because one of the complicated things is all the debt. There’s millions of dollars that there in the hole right now. There’s more in the hole than it would cost to buy the company. So, that make’s it real complicated. There's people who might be willing to buy the company. It’s like if Billy or Aerolux, let’s just say one of them buys it. Well, the other one would have to, you know, buy the company from Dixie for whatever it is but they are also going to have to pay the other one, the money that they put in for all those TV’s, not to mention all the other money for god knows what is still owed… wrestlers that might be behind.. whatever.. there’s so much.. its like.. its not an easy deal. Last week, I was talking to somebody from the outside, and my feeling is because the time situation, that's not happening. That deal is not happening in 4 days. With WWE, that's not as difficult because you’re just selling the tape library. With WWE, everyone would lose their job. Well, not everyone. They would take some wrestlers but the company would be done though."
A major name backstage in TNA told Fightful that they had been told that when the time came for a sale, a lot of false info would come out in an attempt to undermine Corgan's attempt to buy TNA. Most everyone in the company is hoping that Corgan manages to get ownership
We'll keep you up to date on this situation.
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