WWE Chairman Vince McMahon speaks during the announcement of the WWE Network. (Photo : GettyImages/Ethan Miller)
The sale of TNA Wrestling has been a very hot topic in the past couple of months with WWE chairman Vince McMahon among possible buyers. In the latest update on the situation, Billy Corgan claimed in his lawsuit that the WWE is in negotiations with TNA Wrestling regarding a possible sale.
Corgan has filed an injunction since he believes that he should be the owner of TNA Wrestling after a loan agreement with Dixie Carter. He argues that Carter pledged all of her equity interest in the company to him, per The Tennessean.
The Smashing Pumpkins frontman has also revealed that the WWE is looking to buy TNA's assets, mainly its tape library that contains a lot of footage and matches of current WWE superstars such as A.J. Styles, Bobby Roode, Eric Young and Samoa Joe.
It should be noted that Corgan's lawsuit seeks to recognize his loan agreement with Carter so that he can take over TNA Wrestling. The Tennessee-based company is currently in a lot of debt including to Corgan, healthcare marketing company Aroluxe, and The Fight Network.
However, Top Rope Press reported last week that The Fight Network extended a loan to Carter and TNA Wrestling. The loan will allow TNA to fund their operations towards the end of the year and early 2017, as well as pay the debts to Corgan and Aroluxe.
It should be noted that The Fight Network's parent company, Anthem Sports & Entertainment Corp., is based in Toronto. The company's CEO and President is Leonard Asper whose family founded CanWest Global Communications Corp.
TNA talents are also reportedly unhappy with Carter and they want her out of the company. Nevertheless, the company and Corgan are in a legal battle which needs a lot of resolving. As for the WWE, they are just really interested in the TNA tape library.
Matches from TNA would be great additional content for the WWE Network. The WWE can also make future DVDs and documentaries for former TNA talents. And if current TNA wrestlers go to the WWE, they could also benefit from the tape library.
TNA Wrestling was founded by former WWE superstar Jeff Jarrett and his father, Jerry, back in 2002. It was slowly becoming the second-biggest wrestling company in the world but it has lost a lot of momentum when Carter hired Hulk Hogan and Eric Bischoff in 2010.
Check out the video below for some of TNA Wrestling's greatest moments.
