Rumor: Billy Corgan to Purchase TNA, WWE Made a Recent Bid

The transition from music to sports entertainment is a challenge that some people thrive on.

According to a report by the New York Post, current TNA President Billy Corgan is currently in talks to come the new majority owner of Impact Ventures, the parent company of “Impact” Wrestling. He has been the president of the company since August 12 of this year.

However, both WWE and ROH made recent bids to purchase the company as well.

According to Corgan, both parties have agreed on a sale price, and while he is unable to comment on the figure at this time, it is being estimated that the deal will be worth about $40 million.

It is no secret that TNA has been under financial duress for a long time. The most recent potential disaster came during the weekend of their “Slammiversary” pay-per-view in June of this year.

The sale price of $40 million dollars is raising a lot of eyebrows on social media, including from Dave Meltzer of the Wrestling Observer Newsletter, who tweeted the following:

 

Nobody is paying $40 million. Take one zero off https://t.co/Y0kroSlYJJ

— Dave Meltzer (@davemeltzerWON) September 17, 2016

You can find the entire article at this link.

Editor’s Note:

At this point, TNA should accept any money that is willing to be thrown at it at this point. Momentum may be shifting back in their favor, especially with the recent success of the “Broken” Matt Hardy storyline, as well as with both “The Final Deletion” and “Delete or Decay.” Perhaps a new owner will breathe some life back into the company, and allow them to showcase all of their tremendous talent.

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