The future of TNA Wrestling remains cloudy, as outstanding debts, various lawsuits, and bitter disputes threaten to force the promotion to dissolve for good. For now, though, someone has swooped in to provide much-needed funds to keep it afloat.
On Wednesday night, Anthem Sports and Entertainment announced they were the ones who provided the money to produce the last round of television tapings, to keep TNA on TV. They also said they have worked out a deal for the promotion to pay back Billy Corgan. Anthem is the parent company of The Fight Network, a cable channel for all things boxing, wrestling, and mixed martial arts.
Anthem Sports & Entertainment Corp. (“Anthem”), the parent company of Fight Network, today confirmed that it recently made a working capital loan to fund the operations of TNA Impact Wrestling. Fight Network is a licensee of TNA programming for broadcast in the U.S., Canada and other international markets, and is also the exclusive licensee of TNA for streaming Internet-delivered TV.
Fight Network has also offered to provide TNA Impact Wrestling with funding to repay the loans made by Mr. Billy Corgan and is positioned to provide additional transitional assistance to the company.
“TNA is a strong property for Fight Network and as a licensee and global distribution partner we have a keen interest in seeing the company not only survive but continue to grow and thrive, alongside our own growth,” said Leonard Asper, CEO of Anthem. “We are hopeful that the company can soon get back to doing what it does best, which is to produce great wrestling content.”
Could Anthem be the one who eventually buys TNA? It’s possible, although there are rumored to be several suitors, including Corgan himself and, of course, the WWE, who would likely dissolve the company and take whatever assets they felt were worthwhile.