Update On TNA Ownership and Billy Corgan; WWE Rumored To Have Made A Bid To Buy TNA

A recent article from The New York Post shines a light on Total Nonstop Action (TNA) Wrestling’s ownership structure. Current TNA President Billy Corgan told The New York Post that he plans on being TNA’s majority owner by the time their company’s biggest show of the year, Bound for Glory, rolls around on October 2.

Although this is Corgan’s plan, he notes that trying to do this is tougher than it seems because there are still “a lot of people at the table.” This is when The New York Post states that World Wrestling Entertainment and Sinclair Broadcast Group (Ring of Honor owners) are rumored to have recently made bids to buy TNA.

Corgan did not reveal the sale price for TNA, but The New York Post estimated it to be approximately $40 million. They came up with this number by using WWE’s market value of two times revenue. Dave Meltzer of The Wrestling Observer noted on Twitter that $40 million was way too high of a number for TNA’s sale price.

Nobody is paying $40 million. Take one zero off https://t.co/Y0kroSlYJJ

— Dave Meltzer (@davemeltzerWON) September 17, 2016

In other tweets, Meltzer theorized that WWE would only want to buy TNA for the tape library more than anything else.

The New York Post also mentions the following about TNA’s complicated ownership structure.

“A complicated ownership structure also poses challenges in getting every stakeholder on the same page. In addition to majority owner and Chairwoman Dixie Carter, Corgan, Aroluxe Marketing and Canada’s Fight Network all have equity stakes.”

Picture used above is courtesy of ImpactWrestling.com.