‘Member when William Corgan, frontman of the Smashing Pumpkins, assumed the duties of president of a wrestling company? Well, tuck in, because Corgan is about to enter into litigation with that same company just two months after being presented in public for the first time as its president.
TMZ reports that Corgan has filed suit against TNA Impact’s owner, Dixie Carter, and several other relevant parties involved with the company’s ownership and management. While details on the case are currently scarce, this news comes on the heels of recent speculation that TNA would be unable to put on its WrestleMania equivalent, Bound for Glory, due to a fiscal shortfall. That show eventually went on nearly two weeks ago, but amid even more rumors of backstage discontent and last-minute arrangements.
Update: We reached out to a representative for Corgan, who could not comment on the lawsuit due to it being in the middle of litigation. She did provide the following statement: “As president, Billy Corgan is looking out for the long-term interest of the company, its employees, its talent, as well as its stakeholders and contractors.”
Corgan has proposed ambitious plans for the company since becoming actively involved: “Shortly after being named President, Corgan announced his intentions to purchase the company and potentially change its name from TNA. During promotional appearances to push the Bound for Glory PPV, Corgan admitted that he had financed the three previous rounds of TNA Impact Wrestling tapings, describing those deals as last minute agreements where the ‘ink was drying’ as talents were heading to the ring.” Depending on the outcome of the suit, Corgan’s run with TNA (and for that matter, the company’s time) may be limited, a shame given that despite TNA’s long history of mismanagement, Impact Wrestling has had some of its highest weekly ratings in years under his watch.
We’ll be following this lawsuit as it develops, and if you’re at all wondering why this might be worth Corgan’s increasingly massive efforts, this company has also recently allowed things like The Final Deletion to come into being, and that is something worth defending in a court of law. If you’re not sure what that is, it’s a delightful piece of weird, oddly forward-thinking backyard wrestling the Hardys (yeah, exactly the ones you’re thinking of) put on under Corgan’s watch, and deserves any and all support it can get if this company’s survival is in question: