TNA on the brink of collapsing

 

This week could be a very interesting one for TNA and the world of professional wrestling as there are strong rumors that TNA is on the brink with the clock ticking down and fast.

Carter’s majority ownership could be well over before Bound For Glory occurs this weekend and if it doesn’t, there could be some serious problems going forward, mainly financial.

Mike Johnson over at PWInsider.com is reporting that Carter, who has already stepped down as TNA President, has held talks with WWE over a probable sale as the future with her in charge look bleak.

Carter, as the largest owner of TNA, calls the shots and coughs up the money but there are those who are saying that TNA has no money to put up this Sunday’s Bound For Glory pay-per-view. Their current President, Billy Corgan, can pay, but he has no majority ownership and he’s been pushing to have 100% stake in the company. Corgan already dug TNA out of a hole earlier this year when he financed several television tapings and got the role of TNA President in return.

TNA’s production company Aroluxe often don’t get paid and the lack of payments eventually landed them a minority stake in TNA. Aroluxe had a deal where they could buy the company but that exclusive deal expired.

Apart from the live Bound For Glory pay-per-view, TNA also has days worth of television tapings that will follow so money is not only needed for BFG, but for the tapings as well. If somehow TNA manages to survive and enough money is secured to produce Bound For Glory, there could be reruns or other type of programming instead of fresh television tapings while more funding is received, although that would not be ideal.

Will Corgan save the show and gets complete ownership of TNA? Or will Dixie Carter sell to someone else, like WWE? Carter has been reluctant to give up her stake in the company but it looks like this time around there’s no saving her.