Anthem Sports & Entertainment confirms it made a capital loan to fund TNA and has offered to provide TNA with the funding to repay loans from Billy Corgan

Logo_TNA_dn_600Anthem Sports & Entertainment issued the following press release via FightNetwork.com regarding their attempt to fund the operations of TNA Impact Wrestling.

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.”

Powell’s POV: As previously noted, Anthem was responsible for funding the last set of tapings and the Bound For Glory pay-per-view. We’ve reported for some time that they are interested in acquiring a larger stake in the company, and it is believed that the Aroluxe production company, which has a lien against TNA, is onboard with Anthem, though neither side has confirmed this publicly. Corgan has not addressed Anthem’s claim as of this update.

I am curious to know if Anthem is willing to reimburse Corgan simply for the money he loaned to TNA and Dixie Carter, or if they are also willing to pay any additional money that was agreed to as part of the loans. The timing of the statement is interesting, as it raises the question of whether they are pushing for a settlement and/or trying to portray Corgan as the villain if he won’t simply take their reimbursement offer and moves forward with his legal action.



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