TNA News: Billy Corgan Demands To Know About WWE’s Offer To TNA In Now Unsealed Lawsuit Documents

It has been known for some time now that TNA President Billy Corgan is unhappy with TNA Wrestling over basically screwing him over. That said, he has decided to sue the business with most everyone understanding why at the end of the day. Corgan was lied to about finances according to various reports, which may or may not be a federal crime depending on proof of course. The real thing people wanted to know was what Corgan asked for in his lawsuit against TNA Wrestling.

It was rumored that the documents would be opened soon, and it appears that the rumors were true as those very documents were finally opened on Friday. According to Pro Wrestling Sheet, there is a large portion of things that need to be spoken about in regards to the lawsuit. They managed to grab a large amount of the suit and found that Corgan asked for some interesting material.

According to the court documents, Billy Corgan wants TNA to admit that they defaulted on a loan that they were supposed to pay him back in June on. This loan would have allowed Corgan more control over the company, which is interesting to note. Included in this was Corgan being able to fire the top people in management and being able to replace them with people that he wanted in place.

Most see this and already conclude that Dixie Carter did not want it to happen and intentionally defaulted to avoid the problem, as Corgan did not see any sort of real control or got to hire his own staff. This left several people in charge and obviously Corgan saw this and was instantly a bit angry. Of course what is so interesting is that around this time, Corgan was named TNA President, a role Carter had for some time.

However, the documents claimed that Corgan informed Dixie of the default a few days before the TNA Bound for Glory event. This could mean that Carter was unaware of things, but most believe this to be untrue. Corgan may have believed this which is why he held off the lawsuit until after BFG. That said, he may have seen through the issues and decided to sue.

In a report from PWInsider, they found that documents also contained Corgan demanding TNA admit that they cannot pay their debts back. This is a pretty big thing to talk about in a public courtroom. It was reported recently that TNA may have to file bankruptcy due to the debts they had. If they end up saying they cannot pay their debts back, bankruptcy would surely follow. Of course, both Impact Ventures itself and Carter then came out in response and filed that they are insolvent. They did not file any more on the issue and Corgan wants the court to make them prove it.

On top of all of this, Billy Corgan wants TNA to turn over “all documents sent or received from WWE or any of its representatives from January 1, 2016 to present.” Now this means if TNA ever spoke to WWE about anything in that time, they would have to open up about it. This is kind of a tough position for WWE who may have just wanted to look into buying and now Corgan wants TNA to openly talk about negotiations. Of course he, being a person who is a partial owner of TNA, should have the notes from those negotiations because they do concern him. This is especially true as he was trying to buy up the entire business not too long ago.

Right now, Corgan wants all letters, emails, phone calls, heck even smoke signals that had to do with WWE. In the document, he asked for “all documents relating to or referencing any negotiations between you and WWE regarding WWE’s potential acquisition of you or any of your assets.” This is big stuff to have for Corgan and obviously he has a right to see these documents.

If that wasn’t enough, he wants to also know the location of the TNA library. As of now, TNA is not allowed to sell anything until the matter is resolved between the company and Billy Corgan. All of this material is interesting to see. Corgan should have been informed on all of this due to simply owning a portion of the business and investing millions into it. TNA clearly deserved to get sued if all of this material was hidden from Corgan.

[Featured Image by TNA Wrestling]