TNA’s future in question – Billy Corgan addresses investment situation, whether BFG PPV will take place, more in radio interview

Bill Corgan

By Mike McMahon, TNA Impact reporter (@MikeMcMahonPW)

TNA president and minority owner Billy Corgan joined SiriusXM’s “Busted Open” radio program on Wednesday afternoon. The interview was originally set up to publicize this weekend’s Bound for Glory pay-per-view, but with uncertainty surrounding TNA’s ownership raising the question of whether or not the PPV will even take place, Corgan was in the difficult position of being a company ambassador, while at the same time trying to acquire a majority share from Dixie Carter.

Corgan began the interview acknowledging that the company has had a “for sale” sign on it for some time. Corgan said that he was working very hard on acquiring a majority share in TNA, and at the same time keeping it going.

At multiple times throughout the roughly 30-minute interview, Corgan said that he was not interested in keeping TNA around for “one more round.” He needed the deal to be structured in a way where he could help TNA remain viable and prosperous for the next 20 years.

Corgan told the hosts that his No. 1 goal was to acquire TNA and at the same time, create a stable working environment for the employees and wrestlers.

Corgan’s initial investment in TNA came this past summer, right before the Slammiversary pay-per-view in June. He said that he has had to “step in” at the last moment during the last three television tapings.

“The ink was drying as we were heading to the ring,” he said.

At this point, it seems to be a wait-and-see approach for Corgan.

“I remain optimistic a solution can be reached,” he said. “It’s not up to me. I have done everything I can do to arrange a scenario to move forward.”

During the interview, Corgan said that he was in Los Angeles last week working on a solo record with former Smoky Mountain Wresting investor Rick Rubin. Corgan did say that he was the only one working on his portion of the deal, and there were no investors involved. He is playing with his own money.

“I have no investors,” he said. “This is completely out of my own pile. I am committed.”

However, while in Los Angeles to meet with Rubin, Corgan said he also met with officials from Pop TV who gave him a “very firm and complimentary vote of support.”

Corgan said that he plans on being in Orlando on Sunday and that all of the talent is also booked for the show.

“Everyone is booked and everything is good to go (for Bound for Glory),” he said. “We’re just in the same situation we’ve been in before.

“I have had to step up the last three rounds of tapings to fund, and we negotiated what I got for that funding. … I’m not paying for popcorn. it’s one thing to fund the company, it’s another thing to set it up to be successful.

One of Corgan’s last comments was, “If you order the pay-per-view, and I’m standing in that ring, it will be one crazy pay-per-view.”

Corgan’s interview added to mystery surrounding TNA’s future, especially with WWE, a potential outside buyer, and Sinclair Broadcasting in the mix. Corgan might end up buying the company, but only if he has assurance that his money is well-spent, as he noted that he wants to invest in something that has a long-term future, not just trying to make the next set of tapings.

1 Comment on TNA’s future in question – Billy Corgan addresses investment situation, whether BFG PPV will take place, more in radio interview

  1. I am little confused. How van WWE buy TNA? If Arolux, Billy and Dixie are shareholders. That means that WWE will buy them all out?

    Also, with the POPTV deal and international TV deals. If WWE buys TNA, do they have to refund those networks like POP and internationally the money to get out of those ccontracts?

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