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Anthem Sports and Entertainment Issues Statement on Capital Funding to TNA Impact Wrestling

In a press release that was issued via FightNetwork.com within the past hour, Anthem Sports and Entertainment made a statement regarding their attempt to fund TNA Impact Wrestling operations.

Anthem was revealed as the entity that funded the last set of tapings and the Bound for Glory pay per view event that took place on October 2.  Reputable reporting sources have said that Anthem has had an interest in acquiring a larger stake in TNA and that the Aroluxe production company is on board with them.  There has never been public confirmation of that.

TNA President Billy Corgan has not addressed this statement as of this writing.  Here is the full statement from Anthem:

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.”

Bill Says:  I wonder what reimbursement Anthem is proposing here.  Corgan loaned TNA and Dixie Carter money, but there may have been additional funding that he offered as a part of those loans.  Will Anthem repay all of it?  This timing is also very interesting, because as noted earlier the hearing on Corgan’s filing has been postponed a week.  Does that mean a settlement is being pushed, and if Corgan says no to a deal like this would it make him look like the bad guy?  As always, more to follow.

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About Bill Wentz (1559 Articles)
Ring-Rap.com's Senior Columnist, writing with the site since 2009 and a lifelong wrestling fan dating all the way back to the early Wrestlemania years. As a strongly opinionated fan, you can get my thoughts regularly on Ring Rap Audio and Around the Ring on Thursdays, as well as in "Wentz's Blog" in print. Look for my live show reports as well for MMA, WWE, ROH, and more. Outside of wrestling, I have a strong obsession with trucks, winning awards statewide with a truck dubbed the "Brahma Bull Edition." Interact with me on Twitter @Bill_SoonerFan or by email at bwentz@ring-rap.com

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