wrestling / News

New Details on TNA’s Most Recent Financial Crisis

June 16, 2016 | Posted by Larry Csonka

According to The Wrestling Observer Newsletter, here are the latest details on TNA’s most recent financial crisis from over the weekend. Dean Broadhead, the Chief Financial and Chief Operating Officer at TNA, spent June 9th and 10th basically saving the company. The company needed money to close deals or the Slammiversary PPV and TV tapings this week were not going to happen.

Aroluxe, who controls the production equipment being used, demanded at the very least some of the money owed or they wouldn’t do the production. Since there would be no time to get new equipment and a new company in to do the work, TNA had to pay them.

As previously reported, Billy Corgan put money into the company and is now a minority owner. While there is no confirmation that Corgan’s money saved the company over the weekend, it all happened at the same time.

Rick Schoenen of the Alliance Media Group (they promoted TNA’s January television tapings) revealed that TNA had not paid him and that local media and vendors were after him for money. TNA had not returned calls so he contacted then through social media, which caused TNA to finally get back with him.