Billy Corgan Posts Update – Is He Trying To Buy TNA? – Video

UPDATE: Billy Corgan posted a short video update on his Facebook today. He quickly addressed the below report, noting that no one ever asks him for conformation about anything. He also said that he is not working with any investors, and that if he buys TNA he is the sole investor

ORIGINAL: The Wrestling Observer Newsletter reports that as of this writing, TNA is owned by Dixie Carter, Billy Corgan and Aroluxe. Corgan and Aroluxe got their percentages because they funded recent TV tapings while Dixie Carter reportedly still owns 70% of the company. Corgan was able to get control and the Presidency as part of the deal for him putting recent money in. Aroluxe didn’t raise enough money by the end of August to buy the company, which many thought they were going to be able to do. Corgan and his investors are still working on putting together a deal to complete the buy-out.

Dixie Carter reportedly wants $4 million for her shares, and the feeling is that the deal needs to go through because the company needs an infusion of cash to fund the post-Bound for Glory period, which will cost between $600,000 and $800,000. That taping will take them through the end of November.

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