Pro Wrestling News: Reports of TNA's Financial Problems
Over the years, TNA has had problems in various aspects of the business, from low television ratings to cutting talent from their roster.
New information has surfaced on TNA's current financial situation.
According to WrestlingInc.com, Dave Meltzer from the Wrestling Observer Newsletter commented on their message board about the company's problems with paying vendors and their talent on time.
Meltzer was quoted as saying:
Vendors and wrestlers are paid late all the time. Janice Carter controls the purse strings. Only a certain amount of money over what they bring in can be spent and it's prioritized where it goes.
WrestlingInc has also reported that Janice Carter, Dixie Carter's mother, took control of the company's assets in 2010 to prevent Dixie's excess spending, and because the financial losses were more than Panda Energy, TNA's parent company, was willing to accept.
WrestlingInc commented that Meltzer spoke in January 2012 about Janice Carter setting regulations on spending, allowing TNA what is "deemed necessary" in terms of funding to keep financial losses low.
This new information does seem reasonable, considering the major talent cuts that TNA made in 2011. The company may see even more cuts and other ways to cut down on unnecessary spending to ensure its future in the world of professional wrestling.
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