TNA News: TNA sells majority stake to Anthem Sports
What's the story?
Anthem Sports & Entertainment and TNA announced late on Wednesday that Anthem Sports had come to an agreement to acquire a majority stake in TNA Impact Wrestling. It’s a move that strips former owner Dixie Carter from her position as Chairman and relegates her to a minority position.
In case you didn’t know..
Anthem Sports helped out TNA during their drawn out legal battle with Smashing Pumkins frontman Billy Corgan. Corgan sued TNA after claiming that certain provisions in his loans entitled him to Dixie Carter’s voting rights. However, a Tennesse judge disagreed with Corgan and dissolved the injunction. Anthem Sports also offered to repay the $1.8 million that Corgan had lent to TNA.
The heart of the matter
Anthem Sports have already set up a credit system for TNA and have created a separate division for them called Anthem Wrestling Exhibitions. Anthem Sports Executive VP Ed Nordholm will now oversee TNA’s operations as the Managing Director of TNA. Longtime owner and chairman Dixie Carter will now have a diminished role in the organization. She has been added to the Advisory Board of Fight Media Group.
What’s next?
TNA are entering a new era under Anthem Sports. It will be interesting to see how the new management treats TNA and with rumours of management contacting Zeb Coulter and Jeff Jarrett, TNA’s future looks much brighter than it did for much of 2016.
2016 was one of the worst year’s in their history and it looked like they would go out of business for much of the year. Anthem Sports came in at the last minute and saved TNA from going out of business.
Sportskeeda’s take
Anthem Sports’ takeover gives a new lease of life to a promotion who many thought were on their knees in 2016, waiting for the end to come. 2017 promises to be a new start for TNA but the new management must learn from history and not repeat TNA’s past mistakes.
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