Evidently, even in the wrestling business, timing is everything.
According to several sources, it appears WWE is closing in on purchasing TNA Impact Wrestling. While Billy Corgan has been working to make the purchase of the struggling outfit, the three week time table he told ESPN in an interview that he may need to make this happen may not be quick enough with other vultures closing in.
A story on Camel Clutch Blog states, “Dave Meltzer speculated on the situation on a recent Wrestling Observer Radio podcast and believes that Vince and company will close the deal much faster than the three weeks needed by Corgan.
“Meltzer also reported that the company is carrying a lot of debt. This makes the purchase much more complex than WWE’s acquisitions of ECW and WCW. ECW was bankrupt and McMahon was already a creditor. WCW was shelved with no television deal and an afterthought of a large corporation. Vince won’t likely get the same pennies on the dollar deals he got in those aforementioned takeovers.”
For those who remember, this isn’t the same situation WCW was in when McMahon made the purchase on May 23, 2001, but it could be seen as something similar in that the owner of WWE is buying a product on life support and in need of a new look and cash. It is also similar in the way McMahon may scoop in and take the company from Corgan, who is the president of the company in August.
In January 2001, Fusient Media Ventures inked a deal to buy World Championship Wrestling. However, the deal fell apart when AOL's Turner Broadcasting decided to drop WCW from its TBS and TNT channels.
With all the news swirling over what will happen in the near future, one can only speculate what happens next. I have been a big proponent of a deal like this not working for WWE. The brand split followed by low ratings hasn’t been the boost the McMahons had hoped for since the “new era” of the company began two months ago. In the interest of playing devil’s advocate for a few minutes, there could be some real advantages to making this kind of purchase. Here are five reasons WWE buying TNA could pay off in the long run.
5: Another ‘ Invasion’ angle
Vince McMahon proved to be an evil genius not only purchasing WCW but also acquiring ECW as well. The thought of a mega wrestling promotion with such stars as Booker T, Chris Jericho, and Ric Flair was enticing, to say the least. Add Raven, The Dudley’s and other hardcore legends and you had a wrestling menagerie of sorts.
After the dust settled, there was more volume to WWE’s roster, which also created new feuds and more fan excitement. Could the same thing happen here with wrestlers from TNA who were once part of the McMahon flying circus? Could you imagine Aron Rex, Cody Rhodes, Drew Galloway and Bobby Lashley all returning to the scene of the crime, wanting their “revenge” for being booking poorly? If you like the sound of that, give me a “Hell Yeah!”