The New York Post is reporting that WWE have put in a $2.5 million bid to purchase TNA wrestling. TNA was once the United States’ second-biggest wrestling promotion but hard times have fallen on the promotion recently and their future is still uncertain. This news comes as a part of a story on current TNA President Billy Corgan who is still trying to find a way to purchase TNA himself but it is still possible that Corgan may not end up as the owner of TNA.
Another group that has reportedly put in a bid to buy TNA is Sinclair Broadcasting (the company that owns ROH). The story also says that Dixie Carter, The Fight Network and Aroluxe Marketing all have equity stakes in the company and have put in money to fund TNA’s recent TV tapings. TNA’s complicated ownership structure is one hurdle that any would-be owner will have to look at.
The story states that TNA is so hard-up for money right now that they’ve let Aroluxe Marketing take over its trademarks in exchange for capital to keep the promotion running. The New York Post also estimated the value of TNA to be somewhere around $40 million dollars but in reality, that is definitely overstating the value. If WWE does buy TNA however, they won't look to keep the promotion running and will shut down TNA. WWE will just retain TNA's tape library to add it to the WWE Network and make the eventual Rise and Fall of TNA DVD.
TNA was started in 2002 by Jeff and Jerry Jarrett but was soon in financial problems until Panda Energy came in. Dixie Carter, daughter of TNA's President and Panda Energy founder Robert Carter and President and Chief Executive Officer Janice Carter, acquired said stake, making her TNA's majority shareholder. TNA were once the #2 wrestling promotion in American but lost their place and fanbase after a series of disastrous decisions like bringing in Vince Russo, Hulk Hogan and Eric Bischoff.
TNA has always tried to be WWE lite instead of focusing on their strengths like the X-Division which was one of TNA’s highlights in the mid-2000s. WWE has also recently signed a number of TNA originals like AJ Styles, Samoa Joe, Austin Aries and Bobby Roode with the latest of the bunch being Eric Young.
For latest WWE News, live coverage and rumours visit our Sportskeeda WWE section.
What makes Sting special? His first AEW opponent opens up RIGHT HERE.
