TNA Wrestling is Circling the Drain

TNA Impact Wrestling apparently owes more than $3 million to various creditors.

The future of TNA continues to look bleak as a recent report from The Wrestling Observer stated that they not only owes $3.4 million to three separate companies but may also owe even more than that to other investors as well.

According to the report, well-known TNA flotation devices Aroluxe, Anthem (one of the parent companies of The Fight Network) and newcomer MCC Acquisitions are currently holding IOUs from Dixie Carter. To add to the worry, none of these companies are associated with the lawsuit being filed by Billy Corgan. MCC is a new name in this ongoing saga and is apparently the mysterious “third party” who helped finance the recent Bound for Glory event. I’m betting that now they wish they hadn’t.

The bottom line is that TNA can’t sustain this amount of litigation forever. Sooner or later, these companies will get their money and I highly doubt if they care what happens to TNA in the process. Why would they? They invested in good faith with a reasonable assertion that they would be reimbursed. For what it’s worth, former TNA superstar (and current WWE World Champion) AJ Styles doesn’t want to see them go under nor does he want to see WWE absorb the company outright as they did with WCW and ECW. During a recent interview with the Phoenix New Times, Styles had this to say:

"For what it’s worth, former TNA superstar (and current WWE World Champion) AJ Styles doesn’t want to see TNA go under nor does he want to see WWE absorb the company outright as they did with WCW and ECW."

The paper tried to press Styles more about TNA’s inevitable collapse, asking if he wants to see old friends such as the Young Bucks or Kenny Omega eventually make their way into the WWE. For his part, Styles remained coy about possibly competing against these men again one day because he knows it will most likely mean that TNA has finally succumbed to the crushing weight of it’s debt.

"“Yeah, those guys, I would love to see ’em here. But the thing is that what’s more important to me is that they’re happy. And I know a lot of those guys are happy. But there’s a part of me, a selfish part of me, that wants my friends to be a part of it.”"

The separate Billy Corgan lawsuit filed against TNA is claiming “breach of contract” as Corgan claims he was promised a level of ownership in the company that never materialized. He has been very clear about his interest in buying the company but there is no guarantee he has the business acumen to run the company any better than Dixie. The employees of TNA feel that he should be given the opportunity anyway and have even threatened to walk out if they are not paid on time. Legally, this would constitute a breach of contract and there is nothing TNA could do.

I’m siding with AJ Styles on this issue and I hope TNA finds some way to keep itself afloat. The WWE (and pro wrestling in general) is made better so long as there is competition and choice for the fans.

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