TNA Impact Wrestling may be a legitimate federation, but they’re still not on WWE’s level. A large part of what’s holding them back is financial. The company simply doesn’t have the capital to compete with Vince McMahon’s millions.
Smashing Pumpkins singer Billy Corgan (how random is that?) is set to become the majority owner of the company, and has already become a storyline presence on the TV broadcasts. He follows in the footsteps of Jeff Jarrett and Dixie Carter, who previously owned and ran the company. It has enjoyed a decent amount of popularity, with stars like AJ Styles, Samoa Joe, and Abyss, along with former WWE and WCW talent that was scooped up by the federation. However, financially, the company has been bleeding out for a long time.
In fact, it’s such an urgent matter that the company is looking to sell, outright and immediately, or they won’t be able to remain on the air.
Wrestling Observer’s Dave Meltzer reported this morning that the company is going for a price in the $4-$6 million range, and it needs to happen by October 2nd. Otherwise, TNA is going the way of the dodo.
Enter Vince McMahon? It’s possible. The multi-millionaire has expressed interest in the past about acquiring the company. He’s a huge fan of monopolizing the business, having famously acquired his only real competition, WCW, back in 2001. It was a huge coup for the then-WWF, taking out their only competitor while also adding a tremendous amount of talent to their already stellar roster. Bringing in the TNA stars would mean a return home for many of them, including legendary tag team Matt and Jeff Hardy, Bobby Lashley, Al Snow, Cody Rhodes, Shane Helms, Gail Kim, and former senior official Earl Hebner.
So, just how likely is this possibility? Forbes.com (basically the businessman’s bible) reports that McMahon has indeed entered a bid for the company, though they don’t know what its terms might be. Vince, being the tightwad he is, is most likely trying to lowball TNA’s shareholders, but the company may be desperate enough to accept.
However, there might be a dark horse in the running – Sinclair Broadcasting, which owns the Ring of Honor federation, is also said to have entered a bid for TNA. It’s a much smaller outfit than WWE, but very respected in the wrestling world.
What do you think will happen – and what *should* happen – to TNA Impact? Let us know in the comments!