RIPPA Posted October 13, 2016 Author Share Posted October 13, 2016 Don't be surprised if there is news around a TNA sale today Meltzer said he expected news "very shortly" on the radio show last night and Mike Johnson just tweeted "going to be a REAL interesting day" So we shall see. One thing of note - apparently Dixie REALLY pissed off Billy Corgan via the last batch of negotiations/funding for TV taping stuff and that there is a "huge divide" between the two Link to comment Share on other sites More sharing options...
jstout Posted October 13, 2016 Share Posted October 13, 2016 Wow. I figured he was the only realistic candidate to buy the company and try to do something with it - I figured Aeroluxe didn't have the resources and no one else cared to keep it going. At least Dixie's consistent. Link to comment Share on other sites More sharing options...
RIPPA Posted October 13, 2016 Author Share Posted October 13, 2016 Link to comment Share on other sites More sharing options...
Wyld Samurai Posted October 13, 2016 Share Posted October 13, 2016 5 minutes ago, RIPPA said: Sounds like Billy finally realized he was being taken as a mark 1 Link to comment Share on other sites More sharing options...
RIPPA Posted October 13, 2016 Author Share Posted October 13, 2016 Okay - now that I am not in a meeting Quote By Mike Johnson on 2016-10-13 14:30:00 After months of speculation as to what was going to happen with the company, its ownership and its finances, TNA President Billy Cogan filed a lawsuit against TNA Impact Wrestling, its parent company Impact Ventures LLC, TNA Chairman Dixie Carter, TNA Chief Financial Officer Dean Broadhead and Carter's husband Serg Salias on 10/12 in the Chancery Court of Nashville, TN. PWInsider.com is currently working on acquiring details of the lawsuit. Requests for comment from Corgan's attorney and TNA's Public Relations were not returned as of this writing. Corgan, the frontman for Smashing Pumpkins and a long-time fan of professional wrestling, began investing in TNA this past June, helping to finance the TNA Slammiversary PPV and subsequent TV tapings as part of a deal that saw him purchase a minority share in the company. Additional investments in the company led to Corgan acquiring a larger share in the company and on 8/12, TNA issued a press release announcing that Corgan had replaced Dixie Carter as the President of the company and would be handling the day to day operations of the company while Carter would "focus on long-term planning, strategic partnerships and global growth." In the press release touting Corgan being named President of the company, Carter stated, "Billy is a visionary, an iconic artist and savvy businessman with an incredibly gifted creative mind. He has built a decades-long successful global brand, and also has a deep passion and understanding for professional wrestling. In working with Billy over the last 16 months, he has impressed me to the point that I’ve been in discussions with him to take an elevated strategic leadership role within the company. The more we discussed our vision for the organization, the clearer it became that position needed to match his commitment." Shortly after being named President, Corgan announced his intentions to purchase the company and potentially change its name from TNA. During promotional appearances to push the Bound for Glory PPV, Corgan admitted that he had financed the three previous rounds of TNA Impact Wrestling tapings, describing those deals as last minute agreements where the "ink was drying" as talents were heading to the ring. Corgan had been in negotiations to purchase the company, but had been unable to close a complicated deal that would see Corgan not only buy the company from Dixie Carter, but other minority owners including Aroluxe Productions and The Fight Network. Corgan made it clear he would not be financing the Bound for Glory PPV tapings and subsequent TV tapings, noting on a SiriusXM interview that he had done everything in his power to make sure that Bound for Glory took place from a personal and financial level - noting that he was using money from "his own pile" to attempt to purchase the "majority ownership" of TNA - and that he had put everything in place on his end. In that interview with "Busted Open", Corgan said that funding the PPV and tapings were part of the negotiations and the question was what are the people funding the show getting for their money? Corgan said that where it got complicated was that it was one thing to fund the company, but it's another to set the company up to be solvent and successful. At the time Corgan said he didn't want to be having the same conversation three months after the PPV because what would be the point. At that time, Cogan also stated that in conversations with TNA talents he had spoken with, they were all on board with him taking over the company and that they were hopeful he would "win" and steer the ship from that point on. "Enough air has gone out of the balloon," Corgan said last month. "It's time to put air back in the balloon and let this thing be what it can be." In the end, Bound for Glory and the October TV tapings indeed took place, but questions that were left (which we had been raised here on PWInsider.com) included who funded the tapings and what deal did Dixie Carter make in order for the tapings to take place. In a locker room meeting with TNA talents on 10/4 in Orlando, Carter told her roster that the PPV was never in danger of not taking place but did admit the company had to do some "scrambling" in order for everything to fall into place. What that "scrambling" was has never been explained or revealed publicly. During PWInsider.com's reporting of the locker room meeting, we noted that Corgan declined to be in the meeting despite being invited to do so. A number of TNA personalities noted over the course of the BFG PPV and October TV tapings that there was obvious tension between Corgan and Carter and wondered how it might be resolved, especially if Corgan is supposed to be overseeing the day to day business of the company. What the resolution will be remains to be seen, it appears that it will get uglier before it gets better and that that resolution may very well take place inside a Nashville courtroom. 1 Link to comment Share on other sites More sharing options...
Nice Guy Eddie Posted October 13, 2016 Share Posted October 13, 2016 Dixie is going to fuck this up until the very end. 5 Link to comment Share on other sites More sharing options...
Raziel Posted October 13, 2016 Share Posted October 13, 2016 23 minutes ago, RIPPA said: I wish someone else would run it so I could read the story without needing to dip my PC in alcohol afterward. EDIT: Thanks Rippa 2 Link to comment Share on other sites More sharing options...
nofuture Posted October 13, 2016 Share Posted October 13, 2016 So who had "Sued by Minority Partner" in the TNA Deathpool? 5 Link to comment Share on other sites More sharing options...
Playa Shunna Ver 3.0 Posted October 13, 2016 Share Posted October 13, 2016 7 minutes ago, Raziel403 said: I wish someone else would run it so I could read the story without needing to dip my PC in alcohol afterward. EDIT: Thanks Rippa Dipped in alcohol and set on fire. 1 Link to comment Share on other sites More sharing options...
NikoBaltimore Posted October 13, 2016 Share Posted October 13, 2016 Well, my work day won't be boring now. I'm really hoping that somehow Corgan ends up with TNA and gets it to a level they can be proud of. And in the process get Dixie out once and for all. Would it even be possible for TNA to exist if/when he wins? 1 Link to comment Share on other sites More sharing options...
Raziel Posted October 13, 2016 Share Posted October 13, 2016 So I'm gonna guess he saw the books, or that he got fed up and he's suing to recoup his losses he was promised repayment on. And that he might just up and take the company as a settlement, since he's suing not just the company, but Dixie, Serge, and Broadhead indepently as well. 1 Link to comment Share on other sites More sharing options...
nofuture Posted October 13, 2016 Share Posted October 13, 2016 (nevermind, link doesn't work) Link to comment Share on other sites More sharing options...
RIPPA Posted October 13, 2016 Author Share Posted October 13, 2016 Quote By Mike Johnson on 2016-10-13 14:58:00 Court records reveal a bit more information about movements made in the lawsuit TNA President Billy Corgan filed against Impact Wrestling, it's parent company Impact Ventures, Dixie Carter, her husband Seg Salinas, and TNA Chief Financial Officer Dean Broadhead yesterday. Based on the documents, a temporary restraining order was approved and Corgan filed a bond to support it today. A hearing has been set for a temporary injunction on Thursday 10/20 at 11:30 AM. Court documents reveal that Corgan has also requested a six person jury to decide the case. As noted, PWInsider.com is working on additional details, but court documents note that filings for the lawsuit have been sealed "until further notice." Requests for comment from Corgan's attorney and TNA PR have not yet been returned. More as we get it. Link to comment Share on other sites More sharing options...
Raziel Posted October 13, 2016 Share Posted October 13, 2016 Well, it's not exactly news about a sale, but I suppose we'll hear more in a week. Link to comment Share on other sites More sharing options...
Raziel Posted October 13, 2016 Share Posted October 13, 2016 Anyone checking on the usual suspects to see where TNA Morale is about now? Link to comment Share on other sites More sharing options...
Playa Shunna Ver 3.0 Posted October 13, 2016 Share Posted October 13, 2016 So basically Corgan is going to win this thing no matter what. How the fuck is Dixie going to pay the legal fees? Can she get a public defender? Link to comment Share on other sites More sharing options...
RIPPA Posted October 13, 2016 Author Share Posted October 13, 2016 One would assume that he is doing it to force Dixie's hand and that she settles and sells 2 Link to comment Share on other sites More sharing options...
Craig H Posted October 13, 2016 Share Posted October 13, 2016 I'm honestly surprised Corgan didn't go the legal route earlier. He's not your ordinary money mark. This is a guy who has years of experience in not getting fucked over (while, you know, fucking over others). I don't think Dixie knows what she got herself into. She probably thought Corgan was just another rube money mark. Whoops. Link to comment Share on other sites More sharing options...
Playa Shunna Ver 3.0 Posted October 13, 2016 Share Posted October 13, 2016 Maybe the last 3 weeks of TV in December will be a recap of the Corgan-Dixie trial. 9 Link to comment Share on other sites More sharing options...
Overly Critical Man Posted October 13, 2016 Share Posted October 13, 2016 I hope they show the courtroom proceedings on Impact as Final Deletion style segments. 3 Link to comment Share on other sites More sharing options...
The Great ML Posted October 13, 2016 Share Posted October 13, 2016 The Trial of Dixie Carter should end the same with Bischoff, in a garbage truck. 2 Link to comment Share on other sites More sharing options...
Playa Shunna Ver 3.0 Posted October 13, 2016 Share Posted October 13, 2016 Broken Matt Hardy- Defense Attorney would be incredible. 7 Link to comment Share on other sites More sharing options...
The Great ML Posted October 13, 2016 Share Posted October 13, 2016 I cannot wait to see a midget in a trash can brought in as a character witness. 1 Link to comment Share on other sites More sharing options...
StretchMediatedHypertrophy Posted October 13, 2016 Share Posted October 13, 2016 Follow Aiden O'Shea @AidenOsheaTNA Well, crazy day boss @Billy #thethug 8:09 PM - 13 Oct 2016 Follow ec3 ✔@EthanCarterTNA Funny musician/family story just happened....... 8:19 PM - 13 Oct 2016 Link to comment Share on other sites More sharing options...
Ultimo Necro Posted October 13, 2016 Share Posted October 13, 2016 16 minutes ago, Playa Shunna Ver 3.0 said: Broken Matt Hardy- Defense Attorney would be incredible. Representing Ms. Dixie Carter, the honorable Joseph Park Esq. 5 Link to comment Share on other sites More sharing options...
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