The wrestling world was shocked this week when rumors about the WWE buying out TNA Wrestling surface. The latest update has revealed that TNA is indeed for sale but there is still no official word if Vince McMahon actually made a bid or even an inquiry.
Speculations about TNA being for sale have been a topic for a couple years but nothing has come to fruition. However, Smashing Pumpkins frontman Billy Corgan recently became president of the company and he is looking to become the majority owner.
The current majority owner of TNA is Dixie Carter, who made a lot of bad decisions in the past several years that led to the promotion almost going down the ground. She hired former WWE talents such as Hulk Hogan and Eric Bischoff, who just cannot contain their egos.
According to Richard Morgan of the New York Post, the WWE and Sinclair Broadcasting Company, which owns Ring of Honor, reportedly made bids to purchase TNA from Carter and Corgan. However, nothing has been confirmed by all parties involved.
Dave Meltzer of the Wrestling Observer recently revealed in his latest newsletter that TNA is looking to sell for around $4 to $6 million. The sale will fund the next set of television tapings of Impact Wrestling starting on October 2.
As for the WWE and Sinclair inquiry, Meltzer noted that a source familiar with the situation is unaware of the offer from both companies. Nevertheless, the WWE is reportedly only interested in TNA's tape library.
The WWE will likely shut down TNA as a brand and make DVD's out of its huge tape library. Several reports have noted that the tape library will likely cost McMahon around $7 million which is no problem for a billionaire.
However, there might still be problems if ever the WWE or Sinclair buys TNA Wresting. According to Forbes, Carter, as well as Aroluxe Marketing and Canada's Fight Network has equity stakes in the company.
Nevertheless, these are just purely speculative at this point but McMahon would want to get the greatest matches for his current superstars such as A.J. Styles, Samoa Joe, Austin Aries and Bobby Roode. Check out the video below for some of the greatest moments in TNA history.