TNA Reportedly Receives Cash Infusion to Move Forward on Bound for Glory, Negotiations Still Ongoing With WWE and Billy Corgan on Company’s Future

– The ongoing saga for the ultimate fate of TNA continues today, with a new report by the NY Post stating that Bound for Glory will go ahead as scheduled. The company has been in a bit of a whirlwind this week, and there were a lot of question marks whether the PPV event would even take place this Sunday.

According to TNA President and Smashing Pumpkins frontman, Billy Corgan, the event is going forward. He is quoted as saying, “It’s a go, as far as I’ve been told.”

The report claims that, per sources, TNA spent most of this week negotiating with WWE and Corgan for some cash infusion in order to run Bound for Glory. However, the advance payment in order to move forward with the event actually came from neither WWE or Corgan. It is currently an unknown third party. In the meantime, sources believe WWE and Corgan are reportedly going to resume talks about a change in ownership for TNA after this weekend’s PPV broadcast.

An agreement with WWE and TNA Chairwoman Dixie Carter, who still currently holds majority ownership of the company, would likely grant WWE access to the TNA video library and TNA being shut down. However, if Corgan gets majority ownership, TNA would likely stay afloat. A source reportedly said, “No doors were closed.” WWE would not comment on the rumors.