UPDATED: Latest On Potential TNA Sale – Negotiations Ongoing

UPDATE: PWInsider has added more details to the story about TNA’s potential sale. The site notes that while there has been nothing official in regard to reports of a sale being completed, several sources high up in the company have confirmed that there are negotiations with “investors” still ongoing.

There were rumors late last week that the company had already been sold but as of now, that is not the case.

ORIGINAL: On the latest edition of Wrestling Observer Radio, Dave Meltzer and Bryan Alvarez spoke about the potential sale of TNA. Here is the latest…

* The situation with TNA is reportedly “coming to a head.” The company is trying to sell shares to raise money and keep the company gong. They are also seeking new ownership that would hopefully put more money into the company, but Dixie Carter is also hoping to keep the president role.

* TNA has been working on the situation for some time. As previously reported, Billy Corgan bought into the company prior to the last tapings and is a minority owner. Aerolux has also put money into the company, and is also a minority owner.

* They say that those close to the situation have said that the sale is closer than ever.

* The company is running “business as usual,” and talent has been paid on time. The issue has been the money for the TV tapings, which led to Corgan’s investment last month.