Billy Corgan took over the role of President of TNA from Dixie Carter after her 13-year tenure. Dixie was then named as Chairman. It was initially reported that Dixie Carter being named chairman was just to save face and that she was going to be off in a matter of time.
However, she was still the majority owner of TNA.
The week leading up to Bound For Glory was an absolute mess for TNA as it was openly reported that they did not have the sufficient funds for Bound For Glory and also for the next set of tapings that were to happen.
The biggest news of it all was the fact that WWE was attempting to bid for TNA as well. But it was well known that WWE was interested only in their library for the WWE Network and not in running the company separately.
Else they would definitely have brought out contracts of some of the top name performers such as EC3, Drew Galloway, Bobby Lashley, Mike Bennet, and Matt & Jeff Hardy, among others.
Luckily for Dixie Carter, a few days before Bound For Glory she announced that Bound For Glory and the next set of tapings were going to happen, indicating that they either managed to scrape and find temporary funds, or that Billy Corgan had indeed gotten full ownership of the company, the latter of which seemed more likely.
According to a report from PWInsider.com, there was a lot of “obvious tension” between Corgan and Carter backstage at Bound For Glory and the television tapings that followed it. Apparently, Corgan had also taken 100% creative control from John Gaburick after Bound For Glory.
The team still reports to him, but he now ultimately has the final say in matters.
Wrestling Observer Newsletter reported shortly after the sale fiasco that Corgan is looking to completely rebrand the company, as TNA is a “poisoned” name. To a great extent, this is true and rebranding would be the best option for them.
They clearly don’t lack the talent, and they have been on a good creative direction this whole year, so it’s not that they don’t have the quality. If a single talent like Matt Hardy can generate so much buzz about the product based on one gimmick, one can only imagine the magic that they can create with their roster of young, hungry, talent.