Welcome to the WrestleTalk News, our top story today is an update on the potential investors in TNA.
As we reported last week, TNA are currently in the process of finding new investors to buy out a portion of the company.
Well, according to the Wrestling Observer, currently leading the pack of investors is TNA’s own production company, Aroluxe.
For those that didn’t know, former WWE, WCW and TNA wrestlers Don and Ron Harris are involved in Aroluxe and have been TNA’s heads of production for several months.
Aroluxe helped to fund the last set of TNA tapings and are apparently looking to help more in the future.
Interestingly, PWInsider are reporting a rumoured clause in TNA’s contract with Aroluxe, where if they aren’t paid on time by TNA, Aroluxe are able to take the majority stake in the company. According to a currently unconfirmed report, TNA are behind on a payment.
At this point, Dixie Carter is said to be negotiating with a number of different investors but none of them are very happy with her terms. According to a number of reports, Carter is still adamant about wanting to retain at least 51% of the company.
Not a week seems to fly by without rumours of the end for TNA, but the rumours seem to be gaining more and more traction with each passing day. As the company lurches from network to network with no improvements and talent jumps ship at an alarming rate, the writing on the wall grows ever more difficult to scrub off.
Wrestling gossip messiah Dave Meltzer is the latest to report on the financial woes facing the company, and his assessment doesn't exactly beat around the bush. On yesterday's Wrestling Observer Radio episode, Meltzer had this damning appraisal; 'You wouldn't believe how bad it is. When I say they're out of money - they're out of money'.
That can't really be misinterpreted. Aroluxe are reportedly the only company interesting in buying TNA, and they are already owed money by the decaying wrestling promotion. To help matters, fans have been tweeting POP TV (TNA's current network) pictures of Ron and Don Harris (employees of Aroluxe) in Nazi garb, which I'm sure went down a storm at the offices of the network.
With ratings down 31% and cash nowhere to be found, the vultures circling TNA seem to be getting more and more impatient.