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Billy Corgan issues statement on TNA lawsuit amidst reports of talent quitting due to non-payment

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We still don’t have a lot of details regarding the lawsuit Billy Corgan filed yesterday against Dixie Carter and TNA.

The President of Impact did issue this statement, through his spokesperson Lissa Druss Christman to ProWrestling.net:

As president, Billy is looking out for the long-term interest of the company, its employees, its talent, as well as its stakeholders and contractors.

While we wait for the hearing on Corgan’s suit, scheduled for next Thursday, Oct. 20 in Nashville, Dave Meltzer talked about more potential bad news for TNA on the latest Wrestling Observer Radio (subscription required but recommended).

This weekend is a pay week for Impact Wrestling talent. While the investment they received prior to Bound for Glory paid for production of the pay-per-view (PPV) and subsequent television tapings, there’s some question as to whether there is any money left until international TV revenue comes in in early 2017.

If there isn’t, wrestlers signed for a regular salary may not be paid. Meltzer said he knows of “a couple of guys” who are prepared to declare themselves free agents if they’re not paid as scheduled.

Additional issues showed up during last night’s episode of Impact, where theme music for Michael Bennett and DJ Z was pulled. Both songs were written this year by Dale Oliver, and speculation is the licenses were pulled - possibly over money owed.

Impact Ventures, LLC, TNA’s parent company, is also being sued by Audience of 1 (AO1) Productions, their old production company, for breach of contract and other grievances.