TNA Files For Bankruptcy - Fight Network Issues Statement
The long, drawn-out death of TNA seems set to drag on further still.
The 'will they won't they' saga regarding TNA going out of business continues to rumble on, as Dave Meltzer has reported via Wrestling Observer Radio that the company is likely to file for bankruptcy in the hope of absolving their mounting debt.
Meltzer isn't sure whether TNA will be filing Chapter 7 or Chapter 11 bankruptcy, but states that the former would see the end of the company (as all assets would be sold) whilst the latter could see them survive, somehow.
The Fight Network's parent company the Anthem Sports & Entertainment Corporation (which owns a stake in TNA) has since issued a statement, announcing that it had made working capital loans to fund the operations of TNA. The corporation has also offered to provide TNA with funding to repay the loans made by Billy Corgan. The Fight Network sees TNA as a strong property, and one that they wish to see survive and thrive, so I wouldn't expect this to be the end of their involvement.
To increase the intrigue factor further, PWInsider is reporting that more Impact Wrestling TV tapings have been scheduled for the beginning of January, starting on the 4th and ending on the 10th. The company currently has episodes of Impact taped through early December, with one episode planned for taping at the Hardy Family Compound.
Finally, Meltzer is also reporting that one of the major obstacles to any sort of movement in the case is Dixie Carter's desire to avoid looking bad when all is said and done.