TNA President Billy Corgan sues TNA and Dixie Carter

Billy Corgan broke the news today that TNA President Billy Corgan has filed a lawsuit against TNA Impact Wrestling, its parent company Impact Ventures LLC, TNA Chairman Dixie Carter, TNA Chief Financial Officer Dean Broadhead and Dixie Carter’s husband Serg Salinas. The lawsuit was filed today, October 13, at the Chancery Court of Nashville, Tennessee.

It’s not clear what Corgan is asking for in the lawsuit yet as documents have not been made public. The Smashing Pumpkins frontman has pumped in a lot of his personal money to keep TNA afloat, first saving them in June of this year and then frequently putting in more cash up until the Bound For Glory week.

With his financial contribution, Corgan acquired a minority stake in TNA and was named President, replacing Dixie Carter who was then named as Chairman.

Corgan has made no secret that he wants to buy TNA but Carter is playing hardball. He refused to put in more money leading up to the Bound For Glory weekend and subsequent Impact television tapings and TNA were left empty handed, requiring the save of a mystery third-party who made a cash injection in the last minute which enabled TNA to go ahead with the pay-per-view and six days worth of tapings.

Carter acknowledged that there had been some fighting behind the scenes between the minority owners of the company and herself over the ownership but nothing was solved after spending a whole week together in Orlando for the tapings.

The TNA Chairman also revealed that WWE is in play to purchase the TNA video library which would effectively kill the company.