TNA Wrestling is a sinking ship and all you have to do is follow the ratings and look at their house shows to see it. There are a lot of people to blame but the good news is that clock may be ticking on some of them according to recent reports.
[adinserter block=”1″]Dave Meltzer on the Wrestling Observer has talked for weeks about Panda Energy looking to sell TNA Wrestling. The talk really heated up when Hulk Hogan’s contract was coming due. Meltzer speculated that TNA would like to keep Hogan as a big asset as part of a sale. However, Dave’s recent rant about a potential sale is the one that is breaking news.
Meltzer went into greater detail over the weekend on a F4Wonline.com podcast about TNA being up for sale. According to Meltzer the company is not only up for sale, but has been up for sale going back to when Dixie’s mother Janice took over the books and froze the spending.
“There’s a lot of moves being done behind the scenes. There are, no matter what anyone is gonna say right now, big things behind the scenes as far as the future ownership of the company and at that point God only knows where it goes…. There’s people looking at getting it and I think the Carters are looking to get out. They’ve lost enough money and all that and as far as what that means, who knows? But they’ve been looking to get out for awhile, now everyone is going to scream at me and all that, but that’s a 100%, but that’s the stuff they don’t want you to know…. They’ve been looking to get out when they stopped, you know, when it became incumbent, when they didn’t want to fund them anymore….”
I have read other people speculate that Viacom could come in and buy TNA like they did with Bellator. As a matter of a fact it is turning into somewhat of a story that they haven’t. I always felt that the thing standing between Viacom making such a bold move is the WWE. The WWE will always have their television rights up for bid whether it is in 2014 as planned and a few years after. I don’t think that Viacom wants to lock themselves in as owners of a wrestling company when they can always make a play for the big boy in town.
Ironically it is WCW that has screwed this up for the Carter family more than anything else. Vince McMahon reportedly paid just a few million dollars when he bought WCW.As bad a WCW was at times, they were a much bigger game in town than TNA ever was. If WCW could only bring in a few million bucks, how can TNA expect to sell for anything remotely close? Any savvy investor will look at those numbers and come to the same conclusion.
What are you buying with TNA anyway? You get the Spike deal which is huge. But you also are going to look at the books and see that a company with a Spike deal that had superstars like Hulk Hogan, Ric Flair, and Sting on its roster couldn’t sustain a profit. The investors on Shark Tank would laugh at the Carter family if they walked in there asking for anything more than a few hundred grand. Quite frankly the only way you can really make money on this is to buy low and then remarket the tape library. I can’t see any other reason you’d want a piece of this.
[adinserter block=”2″]There are rumors that Eric Bischoff is in play to buy the company. I can’t imagine anyone else than a group headed by Bischoff interested in paying top dollar for TNA. It would certainly make things real interesting to see someone as passionate as Bischoff buy the company. Like him or not he is passionate about wrestling and he could make things in TNA interesting (not saying that is good or bad) as owner.
Regardless, I saw some people over the weekend defend Dixie Carter as a businesswoman. You just can’t, especially when her own parents no longer have confidence in her. But don’t worry Dixie fans. Dixie has said in the past that she’d love to stay in the wrestling business. Good luck!
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