Billy Corgan threatened further legal action against TNA if he is not reimbursed by Anthem Sports & Entertainment for the the loan he provided to the company. “Today, I’m FORMALLY requesting repayment of my ‘so-called’ loan by TNA, which I’m told stalled because they didn’t know where to FIND ME,” Corgan wrote on Twitter. “Laughs aside I’d put up 1.8mil for express purpose of becoming equity stakeholder and helping talented roster. Any other assertion is FALSE.
“So if I’m not repaid today in full and without conditions attached, I’ll be forced to once more pursue remedy by taking TNA stock via court. Remember it was Anthem and not I who stood in open court and told judge they were prepared to PAY and in turn FUND good ‘ol, solvent TNA. A company which they claim they have no business deal for behind-the-scenes yet have released 2 press releases saying they are TAKING OVER.
“So far be it from me to accuse someone I don’t know of bending truth to win a case. That just wouldn’t be nice, and I believe in being nice. Last thing: despite being called a lender by every arm of TNA propaganda I can still convert to 36pct stock or sell option to highest bidder. And that ‘option’ if you will to convert my boo-hoo-hoo loan to 36pct stock or auction it off to a PW titan doesn’t require a court order.” Follow Corgan online at Twitter.com/Billy.
Powell’s POV: The “PW titan” reads like a not so veiled threat to sell his stock to WWE, which was once known as Titan Sports. Okay, so I guess we can’t rule out Rick Bognar, who wrestled as Rick Titan and later Fake Razor Ramon. All jokes aside, it is ridiculous that Anthem issued a press release and told a judge that they would reimburse Corgan for the loan, yet did not have a plan in place to do so on the November 1 deadline. If Anthem owner Leonard Asper is as wealthy as has been conveyed, then this should be a simple transaction. We’ll let you know if Anthem issues another public response to Corgan.