How Close Did TNA Come To Going Out Of Business This Week?
TNA executive reveals precarious position company was in.
It is no secret that TNA has been suffering from severe financial woes for a while now, but PWInsider are reporting that the company came within a whisker of kicking the bucket ahead of this past weekend's Slammiversary pay-per-view. This isn't speculation either, as the news itself came straight from the personal Facebook page of Dean Broadhead, who happens to be TNA's Chief Financial Office and Chief Operating Officer.
Broadhead wrote a lengthy post regarding his desperate attempts to secure interim financing for the company towards the end of last week. Broadhead logged more than 80 calls to a variety of attorneys, bankers, vendors, employees and lord knows who else before finding a messiah with 12 hours to spare, along the production trucks to get moving before the show.
That messiah turned out to be TNA employee and Smashing Pumpkins frontman Billy Corgan, because we live in a strange. strange world. TNA had loads outstanding to Aroluxe, and as that company runs TNA's production it was a case of 'pay off your debt or goodnight'. Reports suggest that Billy came to the rescue, paying the fare and allowing the show to take place.
Dave Meltzer is reporting that the company is far from out of the woods however, and the biggest problem looming on the horizon is TNA's contractual obligation to visit India. This is written into their contract with Sony Six, who are one of TNA's key revenue streams. The visit has already been postponed, and how the company will stump up the cash to pay for it only God knows.
Well, God or Billy Corgan at least.