TNA News: Investors Reportedly Keeping TNA Alive But Won’t For Much Longer Unless Dixie Carter Gives Up Majority Stake
It has been rumored for quite some time that TNA Wrestling is going through a bit of a financial problem. They are obviously not making the kind of television revenue they made with Spike TV. They, of course, aren’t even making as much as they did with Destination America reportedly. The major issue for TNA as well is that fans are tuning out instead of in which is really due to the fact that many stars are leaving.
Kurt Angle has retired. AJ Styles, Samoa Joe, and Austin Aries are now with WWE. Bobby Roode and Eric Young both left and are rumored for a WWE run as well. This isn’t even bringing up the people rumored to leave when their contracts are up, *cough* The Hardy Boyz *cough*. TNA President Dixie Carter continues to tell people that “big things are coming for TNA.” In reality, we can pretty much see right through the BS at this point. She’s been saying that for years.
TNA is certainly not doing well. A lot of people bring up their connection to the billion dollar company Panda Energy which Dixie’s dad owns. The company has kept TNA alive for years but pretty much cut ties from TNA a while back, and the company has lasted on its own dime. This is why contract talks have gone bad for many people. How has TNA lasted so long without Panda backing them? Truthfully, they have not been doing it alone.
According to The Wrestling Observer, TNA has had investors help them out for some time now. As reported earlier in the week, TNA is set to leave their office at Cummins Station in Tennessee and work out of their TNA warehouse. TNA claims it was a cost-cutting move, but it was actually because TNA fell behind on rent for the office and was essentially evicted effective at the end of April. The staff knew about the move for a while, but the reasoning for it was seemingly kept under wraps for a bit.
TNA was working out of the basement, where the TV production was normally done, before this. However, they could not keep up with bills and had to go. When it comes to investors, TNA seems to bring them up a lot. They are looking for people to invest and help TNA become a big deal, but the problem is that instead of the investment going into various projects to make TNA better, they are really helping TNA stay afloat.
The Observer claims investors have been putting money into keeping TNA TV going, but they have yet to purchase any stake in the company itself. That is truly on the TNA President herself, who does not want to give up too much of TNA to anyone. There is a deal that TNA has available that allows them to get pretty much all they need, but they have to give up controlling interest to get that particular investor.
Dixie Carter does not want to give up controlling interest to anyone. There are others who have offered similar deals it seems. Carter is not big on the idea, but some believe TNA will have to end up going into this area. If they hope to survive, they might need all the help they can get. Investors are seeing this as an ideal thing for them as it gives them leverage with TNA. If TNA continues to need investors to keep them going, they’re going to end up giving up majority stake because they will not stay open if they do not.
Clearly, Dixie Carter and the others do not want to go in this direction. However, they may have to do so. At the end of the day, TNA needs help to keep the doors open, and a lot of the problem with TNA is the current regime, according to most wrestling experts. A new majority owner would most likely push Carter and others out and put in a new staff to get things going in a different direction. If TNA does not take this deal, the end of TNA is likely and their pride will go with them.
[Image via YouTube]
