In addition to Wrestling Observer’s report earlier today regarding the sale of TNA, PWInsider.com added more details to the story, a story which might spell the end of Dixie Carter’s reign in TNA.
The agreement between TNA and the Tennessee-based company Aroluxe started in January of this year with Aroluxe pumping in the money for TNA tapings and TNA then paying back those costs plus their service fee. Aroluxe has been in charge of doing a lot of production for TNA and according to PWInsider.com, based on TNA’s contract with Aroluxe, if TNA doesn’t pay on time these fees Aeroluxe would then be legally able to take over the company. A payment from TNA is due this week and judging by history, TNA isn’t always on time when it comes to payments.
The company has been in dire need of money for a couple of years now and came close to going bankrupt multiple times, only for new TV deals and International distribution to kick in and save them.
“So, where things stand based on what we have heard appear to be going in one of two directions – TNA reimburses Aroluxe and things remain at their status quo or Aroluxe takes over the reigns of the company,” Mike Johnson wrote.