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Impact wrestling thread - It's a Don West tribute thread now!

IANdrewDiceClay

By IANdrewDiceClay
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Hail Apprentice

Hail

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New York Post has an article up on Billy Corgan looking to buy TNA - http://nypost.com/2016/09/16/billy-corgan-in-talks-to-become-majority-owner-of-tna-wrestling/

 

The part i found most interesting is this:

 

"WWE and Sinclair Broadcast Group, owner of the Ring of Honor wrestling organization, are rumored to have made recent bids.

A complicated ownership structure also poses challenges in getting every stakeholder on the same page. In addition to majority owner and Chairwoman Dixie Carter, Corgan, Aroluxe Marketing and Canada’s Fight Network all have equity stakes.

Meanwhile, the Nashville, Tenn.-based company is so financially strapped that investor and working-capital provider Aroluxe has reportedly taken over its “TNA” (Total Nonstop Action) trademark.

Corgan says the relevant parties have agreed on a sale price. Although he can’t reveal the figure, an estimate based on publicly traded WWE’s market value of two times revenue would put it at around $40 million."

 

I'd heard Sinclair Broadcasting were interested but heard nothing about a WWE bid - is this legit? I suppose with the prevalence of ex-TNA talents on their roster these days that tape library would be highly sought after for future DVD and network content. Fair play to Billy for trying to save it, i really hope he makes a good go of it but man he's nuts if he thinks its worth $40million - WCW went for what...$2.5million? Also looks dodgy with the Harris Bros company OWNING the TNA trademark - maybe this is why Billy has championed this Impact grand championship, as i remember the initial photos of it showed "WORLD CHAMPIONSHIP" instead of Grand - perhaps he's gonna rebrand the thing to just IMPACT WRESTLING - which probably should have been done long ago anyway.

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Philjax Mentor

Philjax

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Would Billy Corgan have $40million? At this point in his career? I'm not sure what the Pumpkins or solo Corgan have done in the last 15 years in regards to touring and royalties.

 

Anyhoo, I doubt TNA is worth more than 10. You can compare the WCW number but they didn't have TV when they were sold nor did anyone want to put them on.

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uklaw Rising Star

uklaw

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I saw this report elsewhere. IF TRUE, what a basket case!

I suspect, based on how the story is worded and the fact it is Corgan-focused, that many TNA fans will probably want him to purchase the company by Bound For Glory. What with WWE seemingly only wanting the tape library (as opposed to the company) and perhaps the same with Fight Network.

 

As said previously, Corgan has said his creative leadership (storylines/direction) begins at Bound For Glory so it stands to reason he wants all the pieces in place by then.

 

The next couple of weeks are going to be the proverbial squeaky bum time.

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Hail Apprentice

Hail

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Anyhoo, I doubt TNA is worth more than 10. You can compare the WCW number but they didn't have TV when they were sold nor did anyone want to put them on.

 

True Philjax, WWE only bought the WCW Trademarks and tape library and select contracts - not the actual company which interestingly still exists as Universal Wrestling Corporation. Just thinking though, it says he seeks to become "majority owner" - perhaps the overall value is $40million estimate and he's only buying Dixie's share of that - with Aroluxe and Fight Network maintaining a minority stake. 

 

 

As said previously, Corgan has said his creative leadership (storylines/direction) begins at Bound For Glory so it stands to reason he wants all the pieces in place by then.

 

The next couple of weeks are going to be the proverbial squeaky bum time.

 

Spot on mate, i'd say TNA is either Corgan's or done for by BFG. This could be WCW all over again, bischoff and fusient basically announced their plans and started talking to the press as soon as they'd agreed a fee and we remember how that went.  I know some people just wish it'd die but personally hoping Corgan gets it, TNA's been the best its been for ages recently and it'd be a shame to lose them. Suppose Sinclair taking over could be interesting - perhaps a combined TNA/ROH could be more of a threat to WWE's dominance...but ROH has really stagnated of late so i wouldn't hold out hope on that front. 

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Jon-Carr_92 Mentor

Jon-Carr_92

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I know the tape library is virtually the only thing WWE would see in buying them out, but don't you think it would come across as somewhat hypocritical considering they go out of their way not to mention them? ROH used to work with them, but things soured shortly after the Rob Feinstein incident and that's where a lot of their big names came from.

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CTXRussomark Experienced

CTXRussomark

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Who's estimating the $40million figure?  Because basing the valuation on two times revenue just because (the wildly more successful) WWE is valued in that way is a huge leap of logic.  A company not making any profit (or worse, making losses with associated debts) isn't going to be valued in the same way as a successful one just because they're in the same industry. 

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