TNA Seeking Out New Investors To Get Cash Infused Into The Company

Last night, Mike Johnson broke the news at PWInsider.com that TNA has been actively seeking out new investors for the company as of late, which TNA Executive Vice President,Creative & Talent Relations John Gaburick confirmed. “TNA has been in in strategic partnership talks with several major global media companies and investment firms about the company’s next phase of growth,” adding that “TNA CEO Dixie Carter has talked in recent media interviews about the company’s execution of its 5 year growth plan”  and “It’s a very exciting time for TNA.” Gaburick also confirmed that Dixie Carter had spent a lot of time in New York and Los Angeles as of late for meetings.

On last night’s Wrestling Observer Radio podcast for F4WOnline.com subscribers, Dave Meltzer said that he didn’t have much in the way of details other than that “It’s up for sale.” It wasn’t entirely clear if he just meant shares or trying to sell outright, but he took a fairly negative point of view since it’s not like TNA is in good shape right now and they’re losing their biggest name star, Kurt Angle.

Johnson followed that up this morning with a “frequently asked questions” type of article where he addressed some key elements of the story:

• Panda Energy, the Carter family’s main company, is no longer financing TNA, and the belief is that they haven’t been since Jeff Jarrett’s minority stake in the company was bought out last year. Panda may still own TNA on paper, but paychecks that used to come from Panda’s Texas offices are now coming out of TNA’s Nashville, Tennessee offices.
• The newer international TV deals, like with Sony Six in India, are enough to keep the company afloat, but not enough to make TNA a “player,” and Dixie Carter wants TNA to be a “player” in the pro wrestling business. right now.
• Johnson has heard that interest in buying into the company has been shown by a United Kingdom based group of some kind, with TNA also having meetings in New York and Los Angeles, “including meetings at the Pop network.” It’s not clear if he means Pop was showing interest in buying to TNA or just that some of the meetings could have been routine meetings with Pop.
• The company isn’t necessarily for sale, with every source specifically telling Johnson that they’re looking for partners, but theoretically, if “the right offer came along,” it’s not like they’d dismiss it out of hand. Of course, TNA has turned down offers to sell in the past, with one (from a group led by Jeff Jarrett and Hermie Sadler) getting close but not going through when Bob Carter insisted that Dixie must continue to have an onscreen role. Jarrett and Sadler pulled out of the deal because they felt that was dictating creative direction as part of the sale.

It doesn’t seem like TNA is in good shape right now, especially if Panda Energy is no longer funding them. That said, they’ve pulled a rabbit out of their hat before, so it wouldn’t be a huge shock if they found a strategic partner.