UPDATE x 8: Josh Stewart of the official Newsday website sent along a link to an article with a response from the Billy Corgan camp regarding the rumors that the Smashing Pumpkins frontman was attempting to buy an ownership stake in TNA Wrestling.
A spokesperson for the rock-and-roll star told the Newsday website the following:
“There is no reason to comment on rumors. Billy is completely focused on Resistance Pro’s upcoming 2nd anniversary [show on Nov. 23].”
NOTE FROM RYAN CLARK: It’s interesting to note that he doesn’t deny it ………..
The Newsday article also quoted Panda Energy executive Janice Carter, who is the mother of current TNA president Dixie Carter, from the memo she sent out to TNA employees. Carter wrote the following in the memo:
“An unfortunate aspect of this business is that there are wrestling ‘reporters’ who consistently post ‘news stories’ without proper facts. I want to assure you these are just rumors and that I am committed to TNA and its future.”
NOTE FROM RYAN CLARK: As far as Janice is concerned, she does remain committed right now BUT they are listening to all offers as we’ve been reporting.
The words “not selling” and “not buying” are absent from both statements. That would be an easy way to stop the “rumors”, no?
UPDATE x 7: While Billy Corgan may be interested in buying TNA if it’s for sale, word is that he doesn’t have the financial means to both buy it and maintain it on a long-term basis. There have been reports that he has a “wealthy friend” who could invest as a co-owner, but these are just rumors for now and there is no evidence.
Meanwhile, there are several others ahead of Corgan in line who are also interested in buying TNA. Corgan is by no means confirmed and TNA is listening to all offers.
UPDATE x 6: According to a report from AlternativeNation.net, Brett Buchanan has spoken to a “second hand source” who confirms that Billy Corgan’s intent to purchase TNA Wrestling, even going so far as to say the buyout could be a “done deal.” Here’s the quote from the report:
“I have heard from a second hand source who is close to a key figure in the rumored TNA Wrestling sales discussions who has verified that Smashing Pumpkins frontman Billy Corgan is far along in his talks to purchase the company. This source went as far to say that he believes it is a “done deal” that Corgan will buy TNA, though the source didn’t know what percentage Corgan will be purchasing or the specifics of the deal. The source also says that Corgan has recently made a connection to somebody very wealthy, though it is not known if this party would have anything to do with the deal.”
Again, take this for what it’s worth as we can’t confirm the above. A “done deal” seems a little far fetched at this point but we shall see.
UPDATE x 5: Lou D’Angeli has confirmed that Smashing Pumpkins frontman Billy Corgan is interested in buying TNA. D’Angeli, who worked in WWE’s front offices and is a close friend of Corgan’s posted the following to his Twitter:
Yes! From what I understand @billy is in negotiations to buy @IMPACTWRESTLING! I don’t know anything else but he was in Nashville last week!
— Lou DAngeli ? (@LDAngeli) November 2, 2013
Is @billy set on buying @IMPACTWRESTLING??? I know he is pretty serious in at least partial, if not, majority ownership. #TNA
— Lou DAngeli ? (@LDAngeli) November 3, 2013
UPDATE x 4: eWrestlingNews.com writer Matt Boone has added an excellent feature that looks at the Billy Corgan/TNA sale rumors, as well as Corgan’s history in the pro wrestling business.
UPDATE x 3: The identity of a potential buyer who is reportedly interested about buying TNA is Billy Corgan, best known as the frontman of the Smashing Pumpkins.
Corgan is a wrestling fan, and he previously was behind the indy wrestling promotion Resistance Pro Wrestling. A current TNA wrestler and two former workers are said to have verified that Corgan’s name is making the circles behind the scenes in TNA. The current details point to Corgan being a potential candidate.
UPDATE x 2: Court Bauer recently discussed the rumors of TNA being potentially sold and listed some people that he says he knows are interested. Check out the highlights:
Jeff Jarrett: “Jeff has gotten together a few individuals who could possibly fund the buying of TNA. He’s been good with getting investors in the past, see Ring Ka King and he’s one of the few guys who can find the finance for projects. We don’t know what the company is earning right now, so Jeff is trying to assess the weaknesses, how to run the business and has been on the sidelines looking in. Back when Jeff ran the company before, we hardly heard of any issues with money or payouts. Jeff is the better solution right now.”
Dixie Carter: “Dixie has no real involvement in this sale. She might at this point only be a on-air talent right now, as i’ve not heard of anything involving her backstage.”
Mystery Celebrity: “”The third, is someone I can’t mention by name, but this is the kind of person who does have money. It could be a step down for them, and its probably not a great company for them to marry up to. Their “Wrestling IQ” is that of someone who knows enough to be ‘dangerous’. I use the word ‘celebrity’ lightly here.”
NOTE FROM RYAN CLARK: We’re not sure why Court can’t mention the name but my exclusive source tells me it’s one of two names. The first is country singer John Rich and the second is Billy Corgan from The Smashing Pumpkins. Neither of these “celebrities” are confirmed and are only rumored as of this writing.
Spike TV: “Would Spike be interested in this? That would be my choice. But you have to look at Bellator and that wasn’t a great investment. I don’t know what TNA would be worth, but lets look at what WCW went for. Speaking of which, what about Vince & WWE? It would be counter productive. What does it do for the industry? Vince isn’t in the same place, where he was with WCW. He has to be careful with what he does in Wrestling. Would he be tempted? Doubtful. None of these suitors really have the funds to go after WWE. What would they do TNA anyway? Its probably better for them to push NXT instead. Would they put it on the WWE Network Exclusively? Maybe TNA want more then WWE rate the company is worth. WWE Could be a suitor, buts its unlikely.”
Panda Energy: “They might just keep hold of the company too for now too. They might just keep trucking along for another few years. This might happen tomorrow, or next year or never. Its all to be determined.”
NOTE FROM RYAN CLARK: Despite rumors, WWE is NOT interested at all as of right now.
UPDATE: Multiple wrestling media sources are reporting that Panda Energy executive Janice Carter (mother of TNA President Dixie Carter) sent out a memo to TNA talent assuring them that any rumors the company was for sale were false. Carter stated that any rumors claiming that Panda Energy was “attempting to sell its ownership stake” was not true and that they remain committed to the company.
As noted earlier, at least one potential buyer was looking at the option of buying the company and talks got serious enough that representatives for the group were at the TNA offices in Nashville. Talks reportedly had been taking place for months. Whether or not these comments by Carter were a result of the talks falling through isn’t known at this time.
Believe what you will but trust us when we tell you they are listening to all offers. The memo is simply a way to keep TNA talents from getting worried. The company never wanted word to leak out and now that it has, they are in complete “damage control” mode.
ORIGINAL: Here is the latest report on the potential sale of TNA.
Word is that there is a very interested party, and that they are someone fans would know. The potential buyer is also said to have lots of money behind them, but may come off as a surprise buyer to some. They have also been spotted at TNA’s headquarters in recent weeks.
There are also reports that an unnamed celebrity has shown interest, but the name was not given. Country singer John Rich has been rumored. The Wilpon family, who own the New York Mets, have also always been interested in pro wrestling. In 2011, they had plans to launch their own promotion but that never came to be. There is no word on if they are interested but we figured we’d just point that out.
While the Carters may not be rushing to sell the company, they are definitely listening to all offers.