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TNA Reportedly Close to being Sold

TNA is reportedly on the brink of selling the company. Dave Meltzer reported on yesterday’s Wrestling Observer Radio show that the situation “is coming to a head.”

Things have been difficult for the company in the past few months. The Slammiversary PPV only happened due to last-minute funding and finances in the company have been so tight that production staff went months without being paid. Billy Corgan and Aroluxe Marketing have both become minority shareholders in the company, putting money in, and the company has also been signing talent to exclusive deals as collateral for any sale negotiations.

 

There are reportedly three interested parties in acquiring TNA – a company that specializes in troubled assets, an unknown cable TV company, and Aroluxe marketing. The latter are already managing a lot of TNA business on paper, including their production.


  • Khosrow

    Had Panda invested in ECW PERHAPS it would still be around but by this point it is certain Paul Heyman would be gone from it. Paul E would have quit or been fired. His inability to handle money matters (even with someone else paying the bills) would have caused issues. He would have dug his feet into the ground eventually over some trivial matter over signing or firing some talent no doubt, that he would create a rift between himself and the investors that would cause a need for his removal. I Love Paul Heyman but he is at his best when he is only talent or part of a Commitee that can keep him reigned in to a certain point, like when he was on creative for Smackdown and WWE Developmental.

  • CC

    I think you misunderstand me as I made a typo saying had a company like Panda invested in TNA instead of saying ECW. What I meant is that if back in 1998 to 2000, a big company bought ECW but let Heyman run the product while they controlled the money, ECW might still be going and be at least as big as TNA or bigger.

  • D2K

    ECW as a brand only exists inside of the WWE network. Paul Heyman may have been able to bring a lot of his creative genius into TNA had he of taken over, but there was never going to be another ECW. That ECW died in 2001.

  • CC

    Oh, and if anyone does buy it, they need to actually bring in someone with a wrestling background to run it. Someone who understands the industry. Imagine how big ECW would have been if someone had bought it, but let Heyman run it. Heyman knew wrestling but knew nothing about finance. Had a company like Panda invested in TNA, kept their dumb daughter out of it and let Heyman run the shows, ECW would probably still be around today.

  • CC

    The biggest problem TNA has had to face in the last few years is Dixie Carters lack of knowledge of the industry. Yes she brought money to the table at a time they needed it to expand, but she should never have taken control, and let the Jarretts continue to run it. The whole debacle of trying to run before they could walk, signing the likes of Hogan and his cronies, and thinking they could actually go head to head with WWE was the real start of their downfall. A company like Panda was never going to continue throwing money at something like this unless it started to bring back more than what they put in.

  • VRA

    Why? Because I’m speaking the truth? TNA brass didn’t have the vision necessary to separate themselves from their competition instead they molded themselves into it thinking it’s what the fans wanted and not allowing themselves to be an alternative. TNA 2004-2009 was the absolute best TNA had ever been, 2010 was all downhill when they started to grab as many former WWE guys that they possibly could to become more like them. They lacked vision,and now they’re being sold for it.

  • Eat sh/t

  • M

    Better to sell it than file for bankruptcy. Just goes to show you, they had something special when they were doing their own thing. Transforming into a WWE ripoff and actually trying to go to head to head with that killed them. I quit watching when AJ left but hopefully the new owners can turn the company around and back into what it once was.

  • Khosrow

    Hope Aroluxe and Corgan wins it. Corgan has done well with his Chicago based promotion and it’d be interesting to see what he would do with one on a national one.

  • nick-hulk

    No move to thursday nights, just red, blue or yellow brands. Welcome to the the WWE Draft

  • D2K

    It’s time….

  • VRA

    Why? Bad business decisions have lead to this, I mean at one time Hogan, Flair, Hardy, and Angle we’re making 4m a year salary. The made their bed and now they have to sleep in it. Don’t get me wrong, I’m sorry they’re being sold, but if you’re not giving money to your homegrown talent then you can’t keep the doors open. Letting AJ go was the first nail in the coffin.

  • jgdjgdklj

    Sad