Just a couple of weeks ago, former TNA President Billy Corgan announced via Twitter that he had signed a settlement agreement with new Impact Wrestling owner Anthem Sports and Entertainment, following a heated but ultimately short-lived legal battle. Corgan tried to wrest control of TNA from Dixie Carter, but a judge ultimately ruled with TNA and ordered the company to repay him his loan. Anthem has now made good on that payment, and the saga is at an end. (Of Corgan and TNA, we mean. The TNA saga in general may never end.)
Anthem sent out a full press release announcing the settlement on Monday, which included a quote from Corgan.
Anthem Sports & Entertainment and William Corgan Announce Settlement
Toronto, Canada (November 28, 2016) – Anthem Sports & Entertainment Corp. and William “Billy” Corgan today announced that they have completed an agreement to resolve Mr. Corgan’s litigation against Impact Ventures, parent company of TNA Impact Wrestling. Anthem has acquired Mr. Corgan’s loan to Impact Ventures on undisclosed terms, and Mr. Corgan has dismissed his proceedings against Impact Ventures and TNA Impact Wrestling.
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.
Anthem Executive Vice President Ed Nordholm stated: “We are pleased to conclude these arrangements with Mr. Corgan. The events leading to litigation were unfortunate but also reflected all parties’ desire in good faith to support the company. The arrangements we have made with Mr. Corgan respect all parties’ gratitude for his contributions to Impact Wrestling, both creatively and financially. We can now close this chapter and look forward to making Impact Wrestling a leader in the professional wrestling world.”
“I’m pleased that an agreement is now in place that allows wrestling operations to continue,” said Corgan, Impact’s former president, “for my interest from the start was to provide support, be it material or creative, to such a great roster and crew. And as I plan on continuing in the business side of pro wrestling, I look forward to seeing where Anthem’s leadership takes the company in 2017, and wish them the best.”
So in the end, we got pretty much what we expected from the outset: Anthem paid back Corgan’s loan, and Corgan has fully divested himself from TNA. Like Billy, we also look forward to where Anthem takes Impact Wrestling from here. 2017 is just over a month away, but it still seems like a long time to wait before we see what’s going to happen with the company from here.
Oh well. At least there’s still Total Nonstop Deletion to look forward to.