During a Facebook Live broadcast yesterday, new TNA President Billy Corgan announced that he is currently in negotiations to purchase TNA Wrestling from the other stakeholders which include Dixie Carter and Aroluxe Productions.

Noting that the process is a bit complicated, he hoped that soon he will be able to run the company completely, both when it comes to the business side as well as the creative side. Corgan took over Dixie Carter’s role last month after pumping in more money to keep the company afloat after it was evident that Carter could no longer support it.

The Smashing Pumpkins frontman is no stranger in running a wrestling company as in 2011 he founded and ran Resistance Pro Wrestling, a Chicago-based indie promotion. He moved to TNA in April 2015 as the Senior Producer of Creative and Talent Development before getting promoted to President a year later.