Billy Corgan Out at TNA Wrestling, Exploring Legal Options
Earlier this week, it was revealed that the Billy Corgan was denied by the courts in his attempt to take control of TNA and Impact Pro Wrestling. Now, a few days later, Corgan is out of TNA's business altogether.
Anthem Sports & Entertainment and Impact Ventures released a statement revealing that Anthem has provided a credit facility to fund their operations and that they are an equity stakeholder in the company. This has also led to restructuring of operations, with Corgan no longer being listed as part of the TNA's business.
"The company will be managed by the Board with Mr. Nordholm representing the Board on all major operating and restructuring decisions. Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company," reads the statement.
Corgan had reportedly loaned $1.8 million to TNA in order to keep the wrestling operation alive, and was seeking to take control before his request was denied by the courts. Earlier this week, Corgan appeared to take the ruling in stride as it brought attention to some of the practices going on, but with his ousting, the musician has revealed a bit more about the recent dealings and how TNA acted in bad faith to settle all claims. His tweets on the matter can be read below.
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