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WWE’s offer to buy TNA is less than Corgan’s estimate, court hears

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Billy Corgan has said that he saw documentation of Dixie Carter corresponding with WWE over a potential sale, dating September 25, a day before TNA management denied to him that they have reached out to WWE.

In new documents revealed by ProWrestlingSheet.com, it shows that TNA Chief Financial Officer Dean Broadhead sent a WWE representative certain due diligence materials that the company had requested. When WWE asked Carter about Corgan, Carter replied, “I intend to pay the loan back in full plus interest prior to selling the company.”

This is the first black-on-white proof that TNA was in negotiations with WWE over a potential sale. WWE reportedly made an offer to TNA but then lowered their second offer. During the court hearing today, The Tennessean investigative reporter Nate Rau wrote that Corgan’s attorneys informed the court that the current WWE offer includes non-compete clauses and the offer is lower than Corgan’s estimate of TNA’s liabilities. Dixie Carter also e-mailed WWE to tell them she won’t sell until Corgan is out of the picture completely.

Earlier today we reached out to WWE’s corporate communications office regarding their brand appearing in the court documents however no reply was given at time of this writing.

Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

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