wrestling The Big Wrestling Thread!

[MightyJordan]

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As noted, Chancellor Ellen Hobbs Lyle today ruled against Billy Corgan’s request for a temporary injunction against TNA, which as noted would have prevented the company from making major business decisions or sell the company without Corgan being involved in the decision.

 

Corgan is currently owed $1.8 million in loans he made to TNA, and the company has until tomorrow, November 1st to pay the money back to Corgan. As a result of today’s courtroom ruling, Corgan is effectively out of the business decision making process in TNA, but he can move forward with his lawsuit should he choose to do so. Corgan has made three loans to TNA, with the final loan carrying a provision that would grant Corgan Dixie Carter’s 92.5% voting rights in TNA. The judge today ruled that provision is not enforceable by law.

 

Anthem Sports & Entertainment Corp. previously agreed to repay Billy Corgan the money he is owed, but they refused to pay a 50% transaction fee, which according to PWInsider.com, the court ruled Corgan is not owed a transaction fee since there is no evidence of any filings proving any acquisition of TNA and its parent company.

 

If Anthem does indeed pay Corgan back the money, that would likely give them 85% control of the company, with Aroluxe having a 10% stake and Dixie Carter the remaining 5%.

 

In related news, below is a Tweet from Mike Bennett, who is not happy with today’s decision:

 

http://www.wrestlezone.com/news/769735-more-on-todays-tna-court-ruling-what-it-means-for-billy-corgan-and-who-is-in-charge-top-tna-not-happy-with-the-judges-decision

[MightyJordan]

Ruh roh...

 

[MightyJordan]

[MightyJordan]

They're blaming spoilers from the US airing when the episodes are taped months in advance. 

[+jamwheat Subscriber²]

I just saw a commercial for "American Horror Story: Roanoke", and I thought I saw Luke Harper for a second or two in the commercial!

Well, just searched, and Yep, he was there.  Link to article:   https://www.yahoo.com/news/wwes-luke-harper-film-debut-141500697.html

[MightyJordan]

 

[MightyJordan]

 

[MightyJordan]

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The following press release has been issued, announcing Anthem Sports & Entertainment will now be funding TNA:

 

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Anthem Sports & Entertainment and Impact Ventures Announce Credit Relationship

 

Toronto, Canada (November 3, 2016) – Anthem Sports & Entertainment Corp. and Impact Ventures, parent company of TNA Impact Wrestling, today announced that Anthem has provided a credit facility to TNA to fund operations.

Anthem Sports & Entertainment Corp. is a global sports media company that operates Fight Network, Impact Wrestling’s exclusive broadcaster in Canada, as well as the exclusive worldwide digital streaming partner for all TNA programming. It is also an equity stakeholder of Impact Ventures.

 

The agreement includes the appointment of Anthem Executive Vice President Ed Nordholm to the Impact Ventures Board of Managers. The company will be managed by the Board with Mr. Nordholm representing the Board on all major operating and restructuring decisions. 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.

 

“We have had a successful, long-term partnership with Fight Network as our Canadian broadcaster, and more recently as our global digital partner,” said Dixie Carter. “Anthem’s team has extensive media experience, and I am excited to have that available to us as we plan for the future.”

 

“We have consistently maintained that investing in content as we grow our distribution is important as a strategic necessity, and working more closely with a strong brand like TNA is in line with that. This financing is an extension of the support we have been providing since the beginning of the year,” said Leonard Asper, CEO of Anthem. “There are tremendous opportunities to support the company’s growth on all platforms and in all media along side Dixie and the incredible talent and staff at TNA.”

 

http://www.wrestlezone.com/news/770889-billy-corgan-no-longer-with-tna

 

For ######'s sake, there goes the one chance TNA had to turn things around.  

[LOC Veteran]

Yeah, not sure what they were thinking with this offer/deal. They couldn't have been that blind as to why the company was in the crapper to begin with, but they saw fit to accept a deal to keep Dixie Carter in there, and get rid of Corgan who was literally the one thing trying to keep the company from collapsing in on itself? Sure, why not.

[MightyJordan]

 

[MightyJordan]

 

[LOC Veteran]

Wow, Corgan sure did have a Twitter meltdown I guess? Could have been worse I suppose. Don't blame him though, at all. In the end this whole thing is just ridiculous - not to mention people's livelihoods are at stake and an entire company is hanging by a thread (literally). I just wonder how much leverage Corgan has at this point, or even Matt/Jeff Hardy, what with them saying they wanted to buy TNA etc.

[MightyJordan]

 

[+Nik Louch Subscriber²]

I hate to say it...  I've totally warmed to the Delete nonsense!

[MightyJordan]

37 minutes ago, Nefarious Trigger said:

I hate to say it...  I've totally warmed to the Delete nonsense!

 

[MightyJordan]

The American Electoral College Explained for Wrestling Fans

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With a historic election just days away, the Kayfabe News Political Affairs Bureau in Washington has created a handy guide to help wrestling fans understand how the complicated democratic system actually chooses, or “puts over,” a new president of the United States.

 

Citizens of the US do not directly elect a president, but rather choose “electors” — essentially a creative team — who pledge to “push” a given candidate.

 

The number of “electors” is proportional to a state’s members of Congress, similarly to how Monday Night Raw (the wrestling equivalent of, say, California) has many more backstage agents than TNA Impact (the wrestling equivalent of, fittingly, Tennessee).

 

All states, except for jobber states Maine and Nebraska, have chosen a “winner-takes-all” basis, meaning the presidential candidate that amasses the most votes (like a WWE App poll) will be booked to “go over” by the electors.

 

On rare occasions, the electors will “turn heel” by voting contrary to their pledge — a screwjob swerve that which puts the heel elector at risk of party censure (essentially a loser-leaves-town stipulation).

 

The candidate who receives an absolute majority of electoral votes goes over via clean finish, but if there’s a broadway to a Dusty Finish or schmoz with no absolute majority, the winner is chosen by the House of Representatives (i.e. the McMahon family).

 

Given that this election is rare heel-versus-heel deathmatch, however, whichever worker gets the presidential strap will surely draw X-Pac Heat and be a paper champion for four years until a new babyface gets the rub during the primaries (or house shows).

 

Recent polls suggest that the majority of voters would prefer if the Oval Office were occupied by Vacant.

[MightyJordan]

2 hours ago, Nefarious Trigger said:

I hate to say it...  I've totally warmed to the Delete nonsense!

I forgot to say it took a rather unusual turn this week...

 

[LOC Veteran]

LOL, attacked by masked dudes, then "slightly" kicked off a fork lift, Matt has amnesia heh. Maybe he's getting tired of doing that horrible accent of his and super tired of the over acting he's doing?

 

Best part? Grado asking for a selfie with Jeff/Brother Nero and he did it and it looked funny as hell.

[MightyJordan]

 

[MightyJordan]

[MightyJordan]

 

[timster]

 

[MightyJordan]

^^ Serves them right for going to ICW territory; they love a good singsong up Glesga!

 

Not long to go until it's ICW's turn to pack out the Hydro. Roll on the 20th and bollocks to Survivor Series!

[MightyJordan]

[MightyJordan]