A story by the New York Post yesterday valued TNA “at around $40 million,” a figure which couldn’t be more farther than the truth.

The story revolves around Smashing Pumpkins front man and current TNA President making his bid to buy 100% of the company, although Corgan did not want to reveal the price tag put on TNA. Corgan told the NY Post that at the Bound For Glory pay-per-view, he hopes to make some sort of announcement.

“I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it’s going,” he said.

The New York Post also added that both WWE and Sinclair Broadcast Group, which owns Ring of Honor, are rumored that have made bids to buy TNA. WWE already bought WCW and ECW and own several other video libraries which come in handy for the WWE Network. WWE bought WCW for around $4 million back in 2001.

TNA is owned by Dixie Carter, Billy Corgan, and Aroluxe Marketing while other companies have smaller stake.