Billy Corgan Gone From TNA
Anthem Sports And Entertainment Is Taking Over.
At least part of TNA's on-going power and financial struggle has come to a conclusion, as Anthem Sports and Entertainment will be taking over as majority owners of the company. Billy Corgan has been ousted completely.
TNA sent out a press release today stating that Anthem Sports and Entertainment has provided "a credit facility to TNA to fund operations." Anthem owns the Fight Network, and now has the worldwide streaming rights for TNA programming.
In some interesting news, the Wrestling Observer has reported that Dixie Carter no longer has any power in the day-to-day operations of the company, and her title of "Chair of the Company" is more of a way for her to save face. Jason Brown, the CEO of Anthem will now be placed in charge.
This is pretty defeating news for many of the wrestlers backstage, as they had hoped Corgan would take control and turn things around. However, while Brown may or may not know anything about the wrestling business, it's hard to imagine he'll run the company worse than Carter has.
Anthem was supposed to pay Corgan earlier this week for all the money he put in for three sets of TV tapings, plus 6% interest, which is expected to be around $1.91 million (his side believes he is entitled to somewhere around $2.7 million), but he took to Twitter shortly after news of the sale claiming he has not been paid as of yet. This will likely open up a whole new set of problems for TNA:
It's likely we'll see some big changes in the near future in TNA, and some key personnel will probably be let go under the new management. However, there won't be any new tapings for some time, so we won't see any changes on-air for weeks.
As for Corgan, he may end up getting a lot more money from the company (or perhaps an ownership stake) due to their failure to pay him on time. We should know more soon.