WWE Chairman Vince McMahon speaks during the announcement of the WWE Network. (Photo : GettyImages/Ethan Miller)
TNA Wrestling has been in rough financial shape as of late and it has been speculated that the WWE will buy one of their rivals out. The latest rumors have revealed a huge update regarding the status of TNA Wrestling and if WWE really made an offer.
According to Anthony DiMoro of Forbes, Vince McMahon and the WWE have emerged as a serious bidder along with Sinclair Broadcasting Company to purchase TNA Wrestling from Dixie Carter. TNA is in a tough financial situation and they need to money to fund their pay-per-view on Sunday, as well as the next set of Impact Wrestling tapings.
DiMoro also noted that if WWE will be successful in acquiring TNA, they are going to shut down the company. However, several TNA talents will be signed and their prized tape library is finally going to the WWE Network.
There were several reports in the past several weeks that the WWE is very interested in signing Brother Nero and Broken Matt Hardy. The Hardy Boyz have also remained interested in finishing their careers in the WWE.
The tape library will be very handy for the WWE since they are going to have footage of matches for A.J. Styles, Samoa Joe and Bobby Roode. The WWE can also re-hire many former talents that have made a name after leaving like Drew Galloway, Aaron Rex, Bobby Lashley and Ethan Carter III.
On the other hand, one man that can help TNA Wrestling and all of the employees who will lose their jobs if WWE or Sinclair acquires the company is current president, Billy Corgan. However, the problem will be Corgan now has to convince investors to fun TNA's tapings and pay-per-views.
The Smashing Pumpkins frontman has a net worth of around $40 million but it is not enough to keep TNA afloat for a very time. Nevertheless, it is really a difficult time for TNA at the moment and fans will finally know its fate sometime next time.
According to Wrestling Inc, TNA has canceled several flights and matches that were scheduled on the next set of Impact Wrestling tapings. Many TNA talents are also worried about the situation and it will get clearer in the next several days.
Check out the video for some of the greatest moments in TNA Wrestling's history.
