He claimed that TNA did not pay him back his three different loans and the loan agreement expired on ount into a 36% equity in TNA
? Despite offering to pay off Billy Corgan’s three loans by the loan agreement end date of November 1, Anthem Sports & Entertainment are “rejecting” Corgan’s comments made today even though they admitted of not honoring their agreement, yet. “The matter is before courts and public discourse is inappropriate,” the company said in a statement also released on Twitter. “There is a solid financial plan for & Mr. ” By law, TNA had up until two days ago to settle all payments with Billy Corgan who invested well over 1 million dollars in the company. However just like other companies who have filed a lawsuit against them, Corgan is still without his investment and judging by how things are going, it will be a while till Corgan gets his money back.
? The war of words between Billy Corgan and Anthem Sports & Entertainment continues, with Corgan telling Anthem that their statement on Twitter about rejecting his statement was a terrible way to start their “future relationship.” Anthem blasted Corgan for putting out in public certain information and Corgan said that Anthem was the one who issued the press release announcing more information from a lawsuit which is still pending and questioned if that is not public disclosure. Today, the now former TNA President said that the company actually owes him $2.7 million. He said that the excuse TNA used for not paying him by November 1 was that they didn’t know where to find him. “If I’m not repaid today in full and without conditions attached, I’ll be forced to once more pursue remedy by taking TNA stock via court,” Corgan wrote on Twitter. An article on the NY Post quoted a TNA source saying that TNA will pay back Corgan when he asks for his money back. “Last thing: despite being called a lender by every arm of TNA propaganda I can still convert to 36% stock or sell option to highest bidder,” Corgan warned. “And that ‘option’ if you will to convert my boo-hoo-hoo loan to 36% stock or auction it off to a PW titan doesn’t require a court order.” Corgan was obviously referring to WWE with the pro wrestling titan remark, the company that TNA denied they were in negotiations with when Corgan asked but ended up being true as revealed in court.
He said the attorney for Anthem stood up in court and told the judge they were ready to pay him off and even fund TNA but that has not happened yet
? PWInsider is reporting that Dixie Carter addressed the troops yesterday in a conference call which was also attended by Anthem Sports & Entertainment Vice President Ed Nordholm, who was chosen to head up the Impact Ventures Board of Managers. PWInsider says that during the call, Dixie Carter said that Anthem have provided funds and resources that will keep the company alive and there was also some information about TNA resuming their non-televised tours, their only source of income from live events. Carter also acknowledged that former head writer David Lagana resigned from his post last week and former TNA President Billy Corgan is no longer involved with the company after he was kicked out. Running the creative team will be John Gaburick, Matt Conway, and Madison Rayne. The conference call ended abruptly PWInsider says after an automated message came on saying that the call was being recorded. Oops!
? Former TNA President Billy Corgan wrote on Twitter today that he signed his settlement with TNA and Anthem Sports & Entertainment. “And to fill in the blanks, I’ll do a few interviews next week to spell out what is/isn’t in it,” Corgan added. Corgan was unceremoniously booted out of TNA earlier this month after Anthem pretty much took over the company. Corgan lashed out at Anthem on Twitter after they issued a press release saying that he was no longer with the company. It’s not clear if his lawsuit against TNA will be dropped following this settlement.