Over the past week, the buzz hovering around TNA has not been positive, which is an unfortunate trend concerning the company as of late. With a slew of lawsuits unveiling over the past few weeks, many wondered whether it was a lost cause of even maintaining the brand.
However, somehow the executives believe that TNA is still viable, as they have denied allegations that the company is insolvable. In other words, TNA still believes that its debt does not surpass its assets. This feeling is despite millions of dollars of public lawsuits exposed and many who were former employees admitting that they are behind in pay.
In a recent interview with the Pancakes and Powerslams Show, former TNA World Heavyweight Champion Ken Anderson stated that, for one talent, the company is behind a significant amount of money.
“Man. I don’t know anyone who is owed a lot of money from TNA. Like, mid-five figures. There’s this guy that yells and screams his name a lot. I can’t [figure out] who that guy may be.” He added, “there was a time when I did not get paid for three months.”
And, again, that is just for one person.
With the seemingly-insurmountable debt TNA is inundated with, President Billy Corgan is realizing that this was a terrible business decision. Insomuch, that he also pitched his hat in suing the company.
Feeling that he was left in the dark regarding business decisions, especially further negotiations with WWE regarding the tape library, Corgan made a specific request within the lawsuit.
In section two on page one of the case document, seen above, it states that he requested to “depose Mrs. Carter and a corporate representative of Impact Ventures.” In other words, Corgan wanted Carter out of office. Fortunately, for Carter, the request was denied.
One could certainly understand the frustration that Corgan is feeling as a result of this corporate implosion. While many felt that TNA was already a sinking ship and was going to dissolve at any moment, Corgan had enough faith to invest in the company, feeling as if he had the tools to turn its reputation around.
Corgan showed this by having the Impact Wrestling weekly show adopt a more theatric tone, which was displayed by the Matt and Jeff Hardy feud, which led to the uber-popular “Final Deletion” match. This also led to the TNA Tag Team Championship feud between the Hardys and Decay (another Corgan creation).
Sadly, these character alterations, which took each person to a positive direction, may be for naught if this lawsuit forces Carter and Corgan to permanently split.
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