TNA has not paid off Corgan yet, now wants to convert loan in 36% stake

Billy Corgan’s ugly fight with TNA continues despite Anthem Sports & Entertainment announcing his departure.

Writing on Twitter, Corgan said that he has still not been paid by TNA, two days after their loan agreement expired. “TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge. Yesterday they asked for a day to ‘get $ together’ Upon which, (yesterday or today) they’d ‘reach out directly’ to settle ALL claims. So they lied again and have used the time as a weapon,” Corgan wrote.

Corgan added that since he has not been paid, he’s exploring all remedies including new filings in court to convert his loans into a 36% equity in the company. Corgan had the option to get a 36% stake in the company before November 1 but since he has not been paid and the agreement has expired, he now doesn’t want the money and wants a minority ownership, obviously creating big problems for Anthem Sports & Entertainment as well as Dixie Carter.