Billy Corgan suing TNA

[Str8Shooter]

http://www.lordsofpain.net/news/tna/Billy_Corgan_Reportedly_Files_Lawsuit_Against_TNA.html

TNA President Billy Corgan has reportedly filed a lawsuit against Impact Wrestling, the parent company Impact Ventures, LLC, TNA Chief Financial Official Dean Broadhead, TNA Chairwoman Dixie Carter, as well as Dixie's husband Serg Salias. According to PWInsider, Corgan filed the suit this past Wednesday in the Chancery Court of Nashville Tennessee.

Details aren't known as of this time, but we'll be sure to keep you updated on this developing story as news becomes available.

We noted earlier this morning via the Wrestling Observer Newsletter that Corgan and Dixie are currently on very bad terms, and that Dixie has a lot of heat on her for how things have unfolded over the past few months. Click here for that report.

Just another bizarre turn in the TNA saga. Now the dude who wants to buy them is suing the company.

[Daz]

This company and everyone associated with it really need to be put out of their misery at this point.

[Hanley!]

I'm not surprised. It seems like they've been jerking his chain the last 6 months. He's been paying for their television, he wanted to buy the company, but yet Dixie hasn't been able to make a deal to sell the company. She's been taking his money to pay for her shows, but using his desire to protect his investment to string him along.

If they lose their television deal, TNA is worth very little, so if Corgan wants to own it then he's under a lot of pressure to make sure they don't miss a television taping. Then once he's paid for the tapings, Dixie can drag her heels all over again.

It's strange to think that the person who owns the indebted company which isn't making any money has the leverage in this situation. But it's partially because Dixie is just acting childish and spoiled. Sooner or later, this is going to catch up with her. People aren't going to keep bailing her out so she can keep captaining the sinking ship forever. It's amazing that she's gotten away with it for this long.

[Ali]

I feel bad for Billy Corgan. He has to be a huge wrestling fan to want to take over a promotion as established as TNA, but Dixie Carter is basically too stubborn and power-hungry to let it go. On the one hand, Billy can just wipe his hands clean of the company and let it fail, letting the price fall so low that WWE buys it cheap while Corgan invests in a new promotion and picks up whatever talent contracts WWE lets go. On the other hand, that leaves a lot of good people that I'm sure Billy is friends with stranded out in the cold while TNA goes into a death spiral, plus the fact that it is a lot harder to start a promotion from scratch instead of using the base assets TNA already has.

I don't know the inner workings of TNA. I don't know how well-liked Dixie is by the talent, but she almost has to be universally beloved, because I can not fathom how this company has seemed to be treading water for this long without talent outright revolting. All of the allegations of missed and/or shorted paychecks, not knowing if shows would even be put on... I just don't get how TNA is still alive.

[Hanley!]

I'm not sure Dixie is universally beloved by the talent. It's more that most of the talent remaining in TNA are guys who don't have a lot of other options. They're people who left WWE or were passed over by them. Or guys who aren't quite known enough or good enough in the ring to be real successes in Ring of Honor or New Japan.

TNA had a really great roster a few years ago, but now it really does come off like the scraps left over from the other promotions. Most of their biggest stars left in the last few years, with the Hardy's being the only big stars left I can think of. Even their most popular home grown talent left, probably because those were the guys whose checks were bouncing.

We've been hearing news about a bad locker room atmosphere in TNA since 2007, so I doubt they're suddenly doing swimmingly in 2016.

[Circled Square]

Big Tunes Billy got worked hard by based Dixie into basically funding the company and now he's finally snapped

[Str8Shooter]

I don't know the inner workings of TNA. I don't know how well-liked Dixie is by the talent, but she almost has to be universally beloved, because I can not fathom how this company has seemed to be treading water for this long without talent outright revolting.

I don't think she's well liked at all, quite the opposite in fact. I just read something today that the talent want Corgan to buy the company and the sooner the better. Dixie has run this company into the ground and everybody sees it.

[Racing Guy]

Almost as poorly ran as WCW was.

[The Legend]

Almost as poorly ran as WCW was.

I would actually argue, TNA is being run at least equally poorly to WCW and probably much worse.

[Str8Shooter]

Aapparently the latest Impact episode had to remove some guys entrance music completely. No one is 100% sure why but it could be that the guy who composed the music now has rights issues with TNA. The hits just keep on coming.

Also it's possible that Dixie Carter owes money personally to Billy Corgan.

I'm with Legend, this might end up being worse than WCW management, as hard as that is to believe.

[Daz]

Also being sued by their production company and others. They owe so much money to so many different people at this point. Apparently talent is ready to walk as well. We've heard all this sort of shit about TNA before and they've scraped through, but if the company is still around in its current form by this time next year, I'll be very surprised.

[Str8Shooter]

Also being sued by their production company and others. They owe so much money to so many different people at this point. Apparently talent is ready to walk as well. We've heard all this sort of shit about TNA before and they've scraped through, but if the company is still around in its current form by this time next year, I'll be very surprised.

Next year!? You're being optimistic. If they're around next month it would be something at this point.

[KaiserGlider]

You know, I honestly thought that by this point TNA would be in some sort of years-long holding pattern where they're not getting attention, but they're still afloat and producing decent shows where wrestlers can go work and develop characters without the Hogans and Russos rocking the boat. The flaming shitstorm blowing throughout the company right now is further evidence that Dixie just sucked as a boss and wasted all that money over the years. I just really hope WWE buys their tape library and puts it all on the Network.

[Daz]

Also being sued by their production company and others. They owe so much money to so many different people at this point. Apparently talent is ready to walk as well. We've heard all this sort of shit about TNA before and they've scraped through, but if the company is still around in its current form by this time next year, I'll be very surprised.

Next year!? You're being optimistic. If they're around next month it would be something at this point.

I mean, I wouldn't have given them 6 months this time last year, but they keep on surviving. TNA is the cockroach that just won't die.

[Messiah]

Tennessee is also suing TNA for unpaid taxes.

Wtf has Dixie Carter been doing?

[KaiserGlider]

Dixie owes me money.

[Twister]

This is just bizarre.

[AkydefGoldberg]

Dixie seems to have followed Bischoff at WCW - to some degree - in trying to push herself as an on-TV personality/cosying up with the wrestlers and talent at the expense of the important things such as making sure financially you can run shows. There was a time when you heard the name Dixie Carter and never saw her - maybe Jarrett's exit meant she had to push herself on-screen but IDK why she would have felt the need to.