It’s no secret that Impact Wrestling (better known as TNA) is in financial straits. They’ve been casting around for some time to find a buyer for the company and recently sold a minority stake to former Smashing Pumpkins frontman Billy Corgan. Since Corgan came aboard as part owner, he has become an on-screen figure, has replaced Dixie Carter as the real-life president of TNA, has introduced a new championship, and claims to have complete creative control in the company.
Now, Corgan is set to become the outright majority owner of Impact Wrestling, according to a report from the New York Post. Corgan claims that the two sides have agreed to a sale price and he hopes to be able to announce the new regime at the company’s October 2 Bound for Glory pay-per-view.
“I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it’s going,” he said.
The Post claimed that TNA also received bids from WWE and Sinclair Broadcasting, which is the parent company of Ring of Honor. Ring of Honor has been in conflict with TNA at times over the years, and talent that signs with TNA often has to stop working the indies. WWE, meanwhile, would want TNA’s tape library for the WWE Network, which would allow them to highlight the past exploits of people like AJ Styles and Samoa Joe to their heart’s content.
The Post also claimed that TNA currently has a valuation of $40 million, based off of the recent massive valuation of WWE following the UFC sale. But certain things are different. Wrestling Observer kingpin and wrestling insider godfather Dave Meltzer certainly had some thoughts when asked about the Post‘s $40 million valuation for TNA.
Don’t mince words, Dave! While the robust TNA media library is absolutely worth $4 million to WWE as an asset for WWE Network, don’t expect Vince McMahon or anyone else in Stamford to get into a bidding war for Impact Wrestling.