Billy Corgan Settles Lawsuit With TNA Wrestling
Billy Corgan has resolved a lawsuit against TNA Wrestling and its parent company Impact Venture, it was announced Monday (Nov. 28).
The Smashing Pumpkins frontman sued the professional wrestling league over unpaid loans after serving as the company's president for three months. In a press release issued by Anthem Sports & Entertainment Corp. -- an equity stakeholder in TNA that operates Fight Network, Impact Wrestling's exclusive broadcaster in Canada -- announced they had come to an agreement with Corgan, acquiring his loan to Impact Ventures on undisclosed terms.
"I'm pleased that an agreement is now in place that allows wrestling operations to continue," said Corgan in a statement, "for my interest from the start was to provide support, be it material or creative, to such a great roster and crew. And as I plan on continuing in the business side of pro wrestling, I look forward to seeing where Anthem's leadership takes the company in 2017, and wish them the best."
Anthem executive vice president Ed Nordholm added, "We are pleased to conclude these arrangements with Mr. Corgan. The events leading to litigation were unfortunate but also reflected all parties' desire in good faith to support the company. The arrangements we have made with Mr. Corgan respect all parties' gratitude for his contributions to Impact Wrestling, both creatively and financially. We can now close this chapter and look forward to making Impact Wrestling a leader in the professional wrestling world."
Earlier this month Corgan tweeted that he had signed his settlement with TNA and Anthem.
Just signed my settlement with TNA/ANTHEM. And to fill in the blanks I'll do a few interviews next week to spell out what is/isn't in it— WPC (@Billy) November 11, 2016
For the true story on TNA involves a lot of men and women I respect and appreciate (both roster and crew), and they deserve the best— WPC (@Billy) November 11, 2016