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Billy Corgan is out as president of TNA Wrestling after just three months

on November 03, 2016, 7:00pm

For some time now, we’ve been following the sad, seemingly inevitable story of Billy Corgan’s souring relationship with TNA Impact Wrestling. The Smashing Pumpkins frontman was named the company’s president over the summer; but just two months later, he filed suit against TNA, claiming that the company had reneged on assurances that Corgan’s multiple loans (in order to finance the company’s ongoing live tapings) would be repaid in full in a timely manner. His filing was denied earlier this week, but with the judge’s instruction that he would be repaid in full by this past Tuesday, November 1st.

Now, Corgan is no longer a part of TNA, and it would seem that he still has yet to be repaid. This afternoon, TNA issued a press release announcing new funding from Anthem Sports, a media company that oversees (among other things) TNA’s Canadian broadcasts. What’s relevant is this portion of the statement, tossed out right in the middle:

“Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company.”

As Carter was one of the primary targets of Corgan’s lawsuit, along with the holding company Impact Ventures, it would appear that Corgan’s intentions of purchasing the company will now certainly go unfulfilled. In response, Corgan took to Twitter to address the fact that, despite the aforementioned assurances to the judge, he still hasn’t been repaid in full for his loans to the company:

We’ll continue to follow this story as it develops.

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