Has a New Investor Stepped in to Settle TNA’s Billy Corgan Lawsuit?

TNA has offered a wild ride throughout its existence, and it’s only gotten wilder in the past few weeks. We reported last week that Billy Corgan, currently president of TNA, had filed a lawsuit against TNA. We’ve yet to find out the details of the suit, but one would imagine things are bad if you’re suing your own business.

Now it looks like another investor is stepping up, hoping to settle things with Corgan and pick up TNA for themselves.

Anthem Sports, the parent company of Canadian cable station the Fight Network, has made a capital loan to TNA “fund the operations” of the promotion. They’ve also offered money to repay the loans made by Billy Corgan. Reportedly, the hearing in the Corgan / TNA suit has already been delayed.

Reports from today’s Wrestling Observer Radio suggest that most of the talent signed with TNA were hopeful that the company would end up with Corgan, who would rebuild the brand under a new name. It seems likely that a Fight Network deal would leave management in the hands of Dixie Carter, with whom TNA’s wrestlers are understandably unhappy with.

There’s also the possibility that the Fight Network would merely look to settle TNA’s debt so that they could get access to their tape libraries, and not necessarily continue running the promotion itself.

The most incredible part of all this is that TNA has managed to keep running for as long as it has. How much longer will they be able to escape DELETION?