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What's the story?
Mike Johnson of PWInsider is reporting on a story that Anthem Sports is "haemorrhaging funds" and is ready to leave the industry and sell off Global Force Wrestling.
Also Read: From the GFW Rumor Mill: GFW/Impact Wrestling to re-brand once again?
The story comes from Justin Barrasso at Sports Illustrated who has reported that there were several cost cutting measures taken at the television tapings last month.
In case you didn't know...
On January 4th this year, Anthem Sports purchased 85% stake in Impact Wrestling, with Ed Nordholm taking over from Dixie Carter.
This past June, Impact Wrestling was rebranded into Global Force Wrestling as a company, but the television show on POP kept the name of Impact Wrestling.
The heart of the matter
Anthem was in the middle of several legal situations since they took over at the beginning of this year. The biggest case was the one that former Impact Wrestling President Billy Corgan brought against the company for unpaid debts related to the money that Corgan fronted to keep the company going.
Mike Johnson has reported that Anthem took the company over while it was heavily in debt, so they were in an uphill battle to turn a profit from the beginning.
Also Read: From the GFW Rumor Mill: Huge update on Alberto El Patron's future with GFW
He also confirmed that there were several meetings over the past couple of days regarding the company going forward, but officials assured the wrestling talent that everything was fine, especially after the announcement that Jeff Jarrett -- an executive consultant for GFW -- was going to take a leave of absence.
What's next?
Impact Wrestling will continue to air on Thursday nights on POP TV. They have taped the television show up to Bound For Glory, GFW's next pay-per-view that occurs on November 5th.
Author's take
Anthem had an uphill battle from the start when they acquired the majority stake of Impact Wrestling. In my opinion, things haven't gotten better for them financially as they were focusing on the wrong things.
Instead of making the product better, they were more worried about situations that didn't benefit them either way like the Broken Hardy gimmick. I just wonder how different the company would be if Billy Corgan was the one to purchase the company like many hoped.
Teddy Long snaps when Swerve Strickland's race is brought up HERE
