News & Notes 17/10.
Quote:In the latest bad news coming out about TNA's financial situation, David Bixenspan of sescoops.com reports that the State of Tennessee issued a tax lien against TNA Wrestling back on September 8th. TNA reportedly owes a lot of taxes to the state of Tennessee and the state could end up seizing TNA property if the debt is not repaid. If TNA ends up being sold, Dixie Carter would have to either take a lower sale price to pay off the lien or the new owners would have to risk the state going after them for the tax liability. In the document below, the "$0" amount is because some public record search companies misread the Register of Deeds not recording the amount of the lien.
Quote:It’s well known that TNA owes money to several companies that have invested in the company. Three of those companies are Aroluxe, Anthem (one of the parent companies of The Fight Network) and MCC Acquisitions, which appeared to have funded their last set of television tapings and Bound For Glory 2016.
It’s being said that in total, TNA owes those companies $3.4 million dollars. This figure does not include the money that is owed to Billy Corgan or to Audience of One Productions, LLC, which filed a lawsuit against TNA last month.
A potential lawsuit really will distract any further investors, not the most positive news for the company I can share but the latest coming out concerning them.
^ Sad news indeed.I really hope they get through this financial peril and keep operating as a company.
More bad news for TNA,they are being sued by American Express for unpaid travel costs to the amount of $269,049,50.
It seems strangely banal that the sums involved seem to total approx. $4m which I grant you is more money than most of us have got down the back of the sofa, but somehow chicken feed surely to some of these potential investors (though I couldn't say how much money Corgan might have made from Smashing Pumpkins. I bet Dave Grohl is loaded, though).
But supposedly, Dixie has said they've tapings ready to go in January, unless the company folds before then presumably.
Fight Network who show TNA in Canada and other various countries along with being TNA's online partner have issued a statement saying they have given TNA funding
http://www.wrestlingnewssource.com/news/...About-TNA/
Good news for TNA. The news about the January 2017 tapings in Orlando does confirm what I've been thinking for some time, that TNA won't be touring the uk in January as they usually do. Probably be a spring or summer 2017 tour now
Billy Corgan thought to be worth 40 million
Shame that James from Metallica isn't interested,he's worth 175 million.
Debt estimates now said to be above $5m. Seems very strange and sad, the bickering. Corgan seems to want the power to perhaps sling Dixie out, whilst Dixie and Fight Network want to get shot of him too.
Quote:We know that many TNA fans will be disappointed to hear this, but we wanted to let you all know that as of January 2017, Challenge will no longer be the home of TNA in the UK. TNA has been a huge and important part of Challenge’s story over the years and we will treasure some great moments like the British Bootcamp and UK tours. We have been proud to bring UK viewers coverage of TNA and have huge respect for the company and its fans. TNA is packed with great talent and we know they will continue to do great things – we wish them all the best.
For more information on TNA wrestling please visit impactwrestling.com
TNA themselves have said they are looking to announce a new channel soon which they will hope will show TNA in uk closer to its us air date
Shame, because its still the highest rated show on Challenge.