Billy Corgan sues his own wrestling company
Billy Corgan has lent his unique and remarkable personality to a variety of different causes over the span of his career—not to mention starring in Grammy award winning band Smashing Pumpkins, but also receiving the inaugural APMA’s Vanguard Award.
One thing Corgan has always been a fan of is wrestling, and back in April, he became a part of TNA Wrestling as a senior producer, which at the time, was a mutually exciting move considering the financial situation of the company. Corgan has since moved on to become President at IMPACT Ventures, who own TNA Wrestling, and now in a bizarre twist, he is turning around and suing his own company.
The lawsuit, which targets three individuals including TNA Impact’s owner Dixie Carter and her husband Serg Salias, as well as TNA Chief Financial Officer Dean Broadhead, also includes a restraining order which was reportedly filed against Carter and her spouse with a temporary injunction and hearing to be held Oct. 20.
But as of late, Corgan has instructed the filings to be sealed, so there are no available details on the lawsuit, and TNA has made no comments on the matter either. There had also been reports that Billy Corgan was interested in purchasing majority ownership at TNA and IMPACT Ventures, citing that he wanted to make TNA “be what it can be.” Corgan also financed multiple TNA events out of his own pockets, including three rounds on T.V. over the past few months.
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In the past, when Corgan was first named as a producer, Chairman Carter had nothing but praise for the direction she believed he could take the company, which has been in a down spiral financially for some time.
According to SEScoops, Impact Ventures has received a tax lien from the state of Tennessee due to the fact that they owe a large amount of debt. This makes the state’s ability to seize ownership of the TNA property more likely if they can’t pay, therefore making a purchase of the company much more expensive.
Dave Meltzer, of the Wrestling Observer Newsletter, recently tweeted that he doesn't think Corgan will buy TNA, which would like result in the company ending in bankruptcy.
Meltzer tweeted on Oct. 14 that he believes the walls are closing in on the company.
Watch More: APMAs 2014: Billy Corgan accepts the APMAs Vanguard Award