Billy Corgan appeared on the SiriusXM Busted Open wrestling radio show on Wednesday afternoon to discuss the pending sale of TNA Wrestling. Corgan, currently a minority stake investor, is looking to become the majority shareholder when TNA’s imminent sale goes down over the next several days.
Corgan said there are many people “at the table” right now looking to purchase TNA and whatever happens, the face of the company will be changed forever by the time the opening bell rings at Sunday’s Bound For Glory PPV. Â “I am working very hard to acquire a majority share of this company and keep it going into the future,” he said.
One of the other potential investors looking to acquire TNA’s assets is WWE. Although WWE could buy TNA out from under him or be his main competition should he become the majority investor, Billy Corgan has no hard feelings towards the company. “I do not root against the WWE . I am a fan of the WWE and they are the gold standard of our business.”
We’ve heard that a lot of people in TNA are pulling for Corgan to be steering the ship come Bound For Glory. Corgan acknowledged he has a very strong show of support from involved parties and he feels strong about TNA’s relationship with PopTV moving forward.
TNA’s financial troubles are well documented. He acquired most if not all his stock by stepping in and opening his check book when TNA television tapings almost didn’t happen due to lack of funding. Corgan reveals exactly how dire things have gotten in recent months.
.@Billy "The last 3 tapings, I've had to step in at the last minute and walk to the ring as the ink is drying."
— SiriusXM Busted Open (@BustedOpenRadio) September 28, 2016
Corgan is a passionate wrestling fan with experience running a promotion before (Resistance Pro). He said he does not take his membership in the professional wrestling ‘fraternity’ lightly and feels we’re on the cusp of another wrestling boom – thanks to technology. “The TV on the internet era that is on the horizon will be the greatest era of professional wrestling we’ve seen.”
Catch Busted Open on SiriusXM channel 93 Mondays-Wednesdays from 2-4pm EST.
