Billy Corgan Negotiating To Purchase TNA Wrestling?

Former WWE employee Lou D’Angeli claims his friend Billy Corgan of The Smashing Pumpkins is negotiating to purchase TNA Wrestling. D’Angeli Tweeted:

According to CelebrityNetWorth.com, Corgan has an estimated net worth of $50 million dollars.

I am unable to confirm D’Angeli’s claims. I have yet to hear from any of my sources about TNA being for sale and Janice Carter sent out a memo to TNA talent last week, re-affirming the Carter family’s commitment to the company. At this point I’ll just caution to be careful what you read. We’ll continue to research the story but the only thing we know 100% is a memo went out to TNA workers saying the company wasn’t for sale and the Carter family was committed to it. Obviously Janice could be telling talent one thing and doing another but at this point, the other stuff has not been confirmed.

Corgan on the other hand is no stranger to pro wrestling.  He’s a big fan and has promoted his own shows with Jacques and Gabe Baron.  Their company is called Resistance Pro Wrestling.

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  • Bob’s Diner

    Well, when it comes to running a wrestling company, he already has more experience than Dixie Carter

    • BIG M

      So do the Insane Clown Possie but do you really think they would be good for TNA.

      • Bob’s Diner

        You know… I’d almost watch that, just to see the absolute train wreck it would become

        • jdl

          No you wouldn’t. You’d turn it on to see that train wreck, but as soon as ICP’s fat, ugly, untalented, poorly painted faces appeared on screen you’d throw up in your month and then turn it off.

          As for Dixie not having the experience, she’s been running TNA for years, so whether it’s for good or bad she has the experience, she just doesn’t have the business acumen or the strength of will.

          • _JIM_

            Just because she has run TNA for a few years doesn’t mean she has experience running a wrestling company. It’s obvious that what she is doing isn’t working, and if it hasn’t worked in the years she’s been there, it isn’t going to start working now. Corgan might not be the right guy for the job either, but at least it would be a change in direction. TNA needs a change and maybe Corgan and his associates could be the change it needs. Something positive needs to happen soon. As Viacom’s patience with the brand and keeping it on their network will only last so long as long as it continues to flounder.

  • Scott Davies

    Did anybody else see TNA fir sale on eBay? I think eBay took it down by now, but somebody posted TNA for sale on eBay & the highest bidder was $112 haha

  • Nostaljack

    This is intriguing. Corgan’s a big fan of wrestling and he “gets it” so I think it would be interesting. Dixie won’t win any awards for letting down an amazingly talented roster of workers. TNA’s problems all go back to the stuff behind the scenes. Talented workers all wrestling for a company that few know exists. Maybe if Corgan buys them, he could fix that.

  • _JIM_

    Also I get that it’s their 2nd highest rated show, but I think they look at WWE’s numbers and want something that is coparable. .9′s aren’t giving them what they want imo. It’s lasted this long because Viacom can see that there is potential there. But how long will their patience last when there is obviously nothing being done to change the product to better those numbers? I almost wish Bischoff could gain control and have the unlimited piggy bank that he had when Turner owned WCW. I’m hoping for anyone with wrestling business experience to gain control of the company.

  • ken

    Corgan almost bought ECW when they went out of business

  • left4dead

    This rumor was shot down by Meltzer.