TNA is in the midst of dealing with one of its worst public relations nightmares in some time, with the company's image now tarnished thanks to a series of bad decisions that took the promotion from the friendly, cheap confines of the Impact Zone at Universal Studios in Orlando, Florida, to the unfriendly road touring smaller arenas that are aesthetically pleasing but incredibly expensive.
And with no new source of revenue, the added expenditures have taken such a toll that top executives have been forced to make some tough decisions.
That includes parting ways with quite a few wrestlers, office workers, agents, producers, and even high level executives like head of Talent Relations and Creative Bruce Prichard. Worse still, the bloodletting is reportedly set to continue, as revealed by promotion President Dixie Carter during a recent production meeting with the entire roster prior to the Destination X event on July 18 in Louisville.
That's according to PWInsider.com, who has quite the account on all the backstage goings on at TNA right now. Click here to read up on all of it, but here's a short cliff notes version of the bigger issues:
- Carter told the roster there have been money woes recently but she placed the blame on the cost of taping and paying for the One Night Only pay-per-views (PPV) that will run throughout the year. Previously, there was denial that the money issues existed and even reports that payments were only late thanks to third party vendors. Either way, it was acknowledged outright that there are issues right now.
- She went on to say there have been plenty of hard decisions made in regards to the talent already let go and there may be even more cuts to come. She assured everyone that everything done was in the best interest of the long-term goals for the company.
- The wrestlers apparently reacted to this either with an understanding that things get tough sometimes and they simply need to tighten the belt and work hard or a roll of the eyes and even some who reportedly outright mocked Dixie after the meeting.
The decision to cut Jesse Sorensen has been met with widespread disapproval from all corners, as Sorensen broke his neck working match last year and has stayed on working production for the company while recovering. Well, he was reportedly getting paid more than others to assist him during that difficult time and, as stated, the financial difficulties dictated the need to cut back somewhere.
That's the explanation at least.
It should be noted that despite all this turmoil and the growing perception that TNA will be out of business soon, maybe even before the year is out, Spike TV is still happy with the ratings the promotion brings in on Thursday nights. So while TNA may be struggling through a difficult time, no one at Spike TV is pushing them to make any more hard decisions than they've already had to make.
So, in closing, the company isn't going out of business anytime soon, but the problems you've read about are all very real and nothing is completely worked out just yet.