That's because he's probably one of the few people that gets paid on time, so he can then spout nonsense about how wrestlers that leave TNA are lying about pay problems.
By Rossman Sat-29-Oct-2016 14:03:35
Main Event · 687 commentsSo Dixie and Billy Corgan's lawyers have been in court this week trying to untangle the mess they're in. Notable points from the hearings include.
- TV tapings for November have been postponed/cancelled because of lack of funds.
- Wrestlers haven't been paid since Bound For Glory. Dixe has blamed Corgan's lawsuit as the reason. Nothing to do with the above of course.
- Someone from Aeroluxe is running day to day operations for TNA which is doing nothing.
- Corgan's problem is that he kept putting money into TNA without knowing how in debt they were. (Bit dumb) When he got a balance sheet in September for June's finances this is where the lawsuit came from.
- He wants Dixie/TNA/Impact Ventures to say they are insolvent and put him in charge of the company.
- Dixie says they are not insolvent because their assets outweigh the debt. A ring, a TV deal and a warehouse full of shit merchandise.
- Anthem (one of the now owners of TNA) has offered to pay back Corgan's loan minus his 50% transaction fee. As the loan value is $1.8m, transaction fee is $900k which Corgan doesn't want to lose.
By Rossman Tue-1-Nov-2016 09:22:21
Main Event · 687 commentsSo Billy Corgan lost his court case for a restraining order against TNA. Dixie can now do what she wants with the company, preferably sell the fucking thing. Corgan has to have his $1.8m loan repaid today, if it isn't he can turn that into 36% ownership in the company.
Mike Bennett tweeted about the news:
Welp,back to bad business as usual ?
The rumour is that the company will be sold to Anthem who runs the Fight Network in Canada, Aeroluxe will have a percentage. Then Dixie will keep a small percentage and have a self-important title to keep her ego in check.
By benjawi Tue-1-Nov-2016 09:44:04
Admin · 3,242 commentsDixie just needs to completely fuck off from TNA. She's just completely clueless.
By benjawi Tue-1-Nov-2016 21:53:50
Admin · 3,242 commentsTNA have lost their UK TV deal now, which will be a huge blow for them as apparently they make good money from the deal. So unless TNA can come up with a company to mug off over here, they'll lose their whole UK fan base. Funnily, they're trying to blame it on spoilers and how fans don't want to wait 3 days to watch the show over here. 3 days. Not like most TV shows where we're waiting months. 3 bloody days. I highly doubt that that is a problem for people.
By Rossman Wed-2-Nov-2016 09:19:41
Main Event · 687 commentsThey've only got their India TV deal which is a good revenue for them. Supposedly they get a good chunk of change in January for it. One of the clauses of the TV deal is that TNA have to go and do shows in India which they haven't yet. Remember last year, they announced they were going to India but the FBI told them its not safe because of the attacks in France so postponed it to the 1st of never.
By benjawi Thu-3-Nov-2016 18:29:40
Admin · 3,242 commentsAnthem Sports & Entertainment and Impact Ventures Announce Credit Relationship
Toronto, Canada (November 3, 2016) – Anthem Sports & Entertainment Corp. and Impact Ventures, parent company of TNA Impact Wrestling, today announced that Anthem has provided a credit facility to TNA to fund operations.
Anthem Sports & Entertainment Corp. is a global sports media company that operates Fight Network, Impact Wrestling’s exclusive broadcaster in Canada, as well as the exclusive worldwide digital streaming partner for all TNA programming. It is also an equity stakeholder of Impact Ventures.
The agreement includes the appointment of Anthem Executive Vice President Ed Nordholm to the Impact Ventures Board of Managers. The company will be managed by the Board with Mr. Nordholm representing the Board on all major operating and restructuring decisions. Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company.
“We have had a successful, long-term partnership with Fight Network as our Canadian broadcaster, and more recently as our global digital partner,” said Dixie Carter. “Anthem’s team has extensive media experience, and I am excited to have that available to us as we plan for the future.”
“We have consistently maintained that investing in content as we grow our distribution is important as a strategic necessity, and working more closely with a strong brand like TNA is in line with that. This financing is an extension of the support we have been providing since the beginning of the year,” said Leonard Asper, CEO of Anthem. “There are tremendous opportunities to support the company’s growth on all platforms and in all media along side Dixie and the incredible talent and staff at TNA.”
Well that's the end of Corgan.
Awful news about Dixie as well. "Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers". Really? She's proven time and time again that she doesn't know how to run the place. I really don't understand how anyone would finance or buy the place, whilst still keeping her in place. You'd think her leaving would be one of the conditions. I was hopeful of TNA's future in recent months... not anymore. They might last a bit longer, but with Dixie in charge it won't be good.
Best comment I've seen online sums it up perfectly.
TNA is the Jason Voorhees of wrestling. It's died 100 deaths, and after the 50th, we all started saying "oh come on, just stay down, you're embarrassing yourself now", yet still, he sits up and continues on.
By benjawi Thu-3-Nov-2016 18:50:21
Admin · 3,242 commentsIt's all about to kick off it seems. Corgan hasn't been paid like he was promised.
By benjawi Wed-19-Oct-2016 09:46:53
Admin · 3,242 comments