Billy Corgan Files Lawsuit Against TNA: Latest Details, Comments and Reaction

The ongoing sale of TNA Wrestling has gotten messy.

On Thursday, PWInsider.com's Mike Johnson reported TNA President Billy Corgan filed a lawsuit against the company. Pro Wrestling Sheet's Ryan Satin later confirmed the report. Included in the lawsuit are TNA chairman Dixie Carter, TNA chief financial officer Dean Broadhead and TNA's parent company, Impact Ventures LLC.

Corgan officially took over as TNA's president in August. In September, he talked with the New York Post's Richard Morgan about his intentions to purchase the company.

"There's a rebel spirit in wrestling that has gone out of rock 'n' roll," the lead singer of The Smashing Pumpkins said. "I would love nothing better than to stand up in front of everyone and give a clear picture of where this company is and where it's going."

The Wrestling Observer Newsletter's Dave Meltzer (via Bill Hanstock of Uproxx) reported Corgan is among multiple parties looking to potentially buy TNA. Fight Network and Aroluxe are also reportedly showing interest.

On the Oct. 5 episode of The Ross Report, former WWE announcer Jim Ross reported WWE was considering purchasing TNA's tape library, which would be independent of the company itself. According to Meltzer (via Marc Middleton of WrestlingInc.com), the chances are slim that WWE is continuing in that pursuit.

Meltzer added that TNA wrestlers are pulling for Corgan to gain ownership, suggesting the company would be "doomed if anyone else gets it."

Neither Johnson nor Satin provided specific details of Corgan's lawsuit, but Johnson noted Corgan recently had issues with Carter over available funds for TNA, specifically for the Oct. 2 Bound for Glory pay-per-view and subsequent television tapings.

"In the end, Bound for Glory and the October TV tapings indeed took place," Johnson wrote. "But questions that were left (which we had raised here on PWInsider.com) included who funded the tapings and what deal did [Carter] make in order for the tapings to take place."