Billy Corgan saves struggling pro wrestling company from certain death
A little over a year ago, seemingly out of nowhere, Billy Corgan was hired by Nashville-based TNA Impact Wrestling as their senior producer of creative and talent development. While Corgan spoke of potential storylines dealing with topics like trans issues (in spite of his checkered history with trans women), the only tangible benefit anyone noticed was the Smashing Pumpkins leader negotiating the use of Hole’s “Doll Parts” as entrance music for a group of female wrestlers known as “The Doll House.”
Meanwhile, TNA, which had already moved to Discovery’s Destination America after being cancelled by Spike TV, was cancelled again within months, moving to Pop TV (the former TV Guide Network), where its viewership continued to nosedive.
TNA had been openly courting investors, and one potential suitor, Aroluxe Marketing, had not only been loaning the company money, but even filed for a trademark on the “TNA” name. Still, there were operating hand to mouth, and it was reported (link NSFW) before their “Slammiversary” pay-per-view event on Sunday that Corgan decided to buy a minority stake in the company. As far as anyone could tell, he hadn’t been in the running, so it was a curious bit of news. The details were further sketched out by a post on the personal Facebook page of TNA Chief Financial Officer and Chief Operating Officer Dean Broadhead, who revealed that the company was in a mad dash to get enough money to run Slammiversary, PWInsider reports (link NSFW). Broadhead explained that he make 80 phone calls in 12 hours to “secure interim financing” to get the “production trucks to roll.”
The obvious inference is that Corgan’s money is what allowed them to keep going.
This is not the first time Corgan has owned a pro wrestling company. He ran a local group in Chicago called Resistance Pro Wrestling for a bit before quietly leaving the fold, and had also been approached by Extreme Championship Wrestling (ECW) in 2001 to become an investor. According to Corgan in the documentary “Barbed Wire City,” he turned down the chance to buy 10 percent that dying company for $1 million because he knew full well that the company wasn’t worth $10 million.
Right now, it’s unknown how much of TNA he bought and for how much.
[PWInsider | Photo: Getty]