Source: PWInsider.com
As noted yesterday, TNA is currently in talks with outside investors, and Dixie Carter has been taking meetings recently to discuss the future of the company.
With regards to why TNA is seeking outside investors, it’s simply because the company wants to expand, and the current financial situation is not allowing it to do so. The company has had to cut back on office space in recent months, and has also cut certain talents who were supposed to appear on the most recent UK tour. As the company stands right now, it might be making enough money to keep it afloat, but it’s not enough money to turn a longterm profit. So partnering up with an investor who could take a percentage of the company might help TNA realize the 5 year plan Dixie Carter reportedly has in place.
With regards to Panda Energy, which used to fund TNA Wrestling, it’s being said that while Panda might remain an owner in name, it no longer funds TNA and is not actively involved in any aspect of TNA operations. All operations and paychecks are said to be coming directly out of Nashville at this point, and it appears as if Panda stopped funding TNA back when Jeff Jarrett’s minority stake in TNA was bought out.
As for whether or not TNA is for sale, sources in TNA are being careful to note the company is seeking investors at this time, and the company is not for sale. That does not mean, however, that Dixie Carter would not at least consider selling the company if the right money offer was made. TNA executive John Gaburick, however, has repeatedly said TNA is looking for a “strategic partner”, not a new owner, and Dixie Carter has turned down sale offers in the past.
Nick was born and raised in Detroit, Michigan, and lived there until the age of 18, when he decided to pack his flack jacket and move to New York City.
