UPDATED: TNA Minority Owner Issues Statement on Offer to Pay Loans

– Anthem Sports and Entertainment Corp. has released a statement regarding their investment in TNA and offer to repay Billy Corgan’s loans. The statement, which you can read in full below, acknowledges that the company made a “working capital loan” to fund TNA’s operations and is “positioned to provide additional transitional assistance to the company.”

The statement reads as follows:

Anthem Sports & Entertainment Corp. (“Anthem”), the parent company of Fight Network, today confirmed that it recently made a working capital loan to fund the operations of TNA Impact Wrestling. Fight Network is a licensee of TNA programming for broadcast in the U.S., Canada and other international markets, and is also the exclusive licensee of TNA for streaming Internet-delivered TV.

Fight Network has also offered to provide TNA Impact Wrestling with funding to repay the loans made by Mr. Billy Corgan and is positioned to provide additional transitional assistance to the company.

“TNA is a strong property for Fight Network and as a licensee and global distribution partner we have a keen interest in seeing the company not only survive but continue to grow and thrive, alongside our own growth,” said Leonard Asper, CEO of Anthem. “We are hopeful that the company can soon get back to doing what it does best, which is to produce great wrestling content.”

ORIGINAL: There’s been another development in the eventful day regarding Billy Corgan’s lawsuit against TNA. Following a hearing in the case being delayed and reports coming out about a possible reason why the lawsuit was sealed, one of TNA’s minority owners has offered to repay Corgan’s loans to the company.

The Live Audio Wrestling podcast, which is operated by The Fight Network, noted on Twitter:

Have confirmed that the TNA / Billy Corgan hearing has been moved to next Wednesday, Anthem will be putting out statement today

— Live Audio Wrestling (@LAWradio) October 19, 2016

Anthem is also offering to fund TNA in order to repay the loans of Billy Corgan

— Live Audio Wrestling (@LAWradio) October 19, 2016

Anthem Sports and Entertainment is the parent company of The Fight Network and is one of the companies that Impact Ventures LLC has a debt registered to. Anthem acquired a minority stake in the company several months back in a deal that gave them worldwide streaming rights to TNA’s library and as that last link shows, the financing for the latest Impact tapings seems to have come from Anthem through MCC Acquisition Corp. which has the same address as Anthem.

How Corgan’s loans specifically relate to the lawsuit (if at all) are unknown at this time due to the sealed nature of the suit.