According to a report from F4WOnline, during yesterday’s edition of Wrestling Observer Radio Dave Meltzer reported that TNA is likely to file for bankruptcy in order to absolve their debt. It is not yet known what would happen next, however, the main creditors would be Billy Corgan, Aroluxe and The Fight Network:
They’re probably gonna end up filing for bankruptcy. Then what happens I don’t know. But if they file for bankruptcy, the big creditors seem to be The Fight Network and Billy [Corgan] and Aroluxe. So as far as who gets what… I think the idea is if they file for the bankruptcy they absolve the debt.
But Dixie… the whole thing is, Dixie is still trying to figure out a way – this is why it hasn’t been sold – to, I don’t know if it’s to stay in control but the whole thing is, she doesn’t want to look bad publicly.
We’ll keep you updated as we learn more……