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TNA Impact Wrestling Owes Over $3.4 Million To Debtors, Details On Lawsuits

By Shawn Lealos
Published on: 04:55 PST, Oct 15, 2016

Last week, both the WWE and Billy Corgan were in serious discussions to buy TNA Impact Wrestling. There seemed to be no money to hold the annual Bound for Glory pay-per-view event or the television tapings. However, someone loaned them the money and they taped everything while Dixie Carter refused to sell her majority shares and told talent not to worry. Now, there are two different TNA Impact Wrestling lawsuits filed and millions owed to other companies.

The time for worry is here. The Wrestling Observer reported on Saturday that TNA Impact Wrestling now owes well over $3.4 million to three companies and owes even more than that to others. According to the report, the three companies that are owed that sum of money is Aroluxe, Anthem (one of the parent companies of The Fight Network) and MCC Acquisitions. None of those are connected to the TNA Impact Wrestling lawsuit claims that have just been filed.

MCC Acquisitions is a new debtor for TNA Impact Wrestling and is apparently who financed the money to hold the Bound for Glory pay-per-view event and the television tapings. That also does not include money that is owed to Billy Corgan and Audience of One Productions and money that is owed to the state of Tennessee for taxes.

PWInsider reported that both Billy Corgan and Audience of One Productions filed lawsuits against TNA Impact Wrestling. The Audience of One TNA Impact Wrestling lawsuit is against Impact Ventures LLC, TNA minority owner Aroluxe LLC, Dean Broadhead and Ronald Harris this month for $233,000.

Audience of One started working with TNA Impact Wrestling in 2015, and that TNA Impact Wrestling lawsuit is for breach of contract, fraudulent inducement on the behalf of Harris and Broadhead, torturous interference on behalf of Aroluxe and for violating Virginia codes.

As for TNA Impact Wrestling lawsuit by president Billy Corgan, The New York Post reported that Corgan was not happy because he was promised a level of ownership when he invested money in the company and that never occurred. The Billy Corgan TNA Impact Wrestling lawsuit also names Dixie Carter, parent company Impact Ventures LLC,CFO Dean Broadhead, and Dixie Carter’s husband Serg Salinas as defendants.

The courts issued a temporary restraining order after the Billy Corgan TNA Impact Wrestling lawsuit was filed. TNA Impact Wrestling owes Billy Corgan money as well. Corgan says he is interested in the long-term interest of the company and it seems he is still angling to buy the company.

After the Billy Corgan TNA Impact Wrestling lawsuit, music was pulled for various superstars on the latest episode on POP TV. Both Mike Bennett and DJZ lost their music for the show. Both songs were written by Dale Oliver and there are rumors about missing payments for royalties.

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Added to the pains of the TNA Impact Wrestling lawsuit claims is the State of Tennessee, as they have issued tax liens against the company as well. According to SEScoops, the lien is for unpaid taxes and was filed on Sept. 8. According to the report, TNA Impact Wrestling owes enough in taxes that the state could seize their property. This means that the state could even go after anyone who buys the company.

Finally, there is inner turmoil outside of the TNA Impact Wrestling lawsuit and tax problems. Many of the wrestlers in the company want Billy Corgan to take over the company and are frustrated with Dixie Carter holding things up. PWInsider reported that there is talk among many wrestlers to walk out on the company if they are not paid on time this weekend. That would put TNA Impact Wrestling in breach of contract and the talents could legally leave the company.

[Featured Image via TNA Impact Wrestling]

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