Corgan Rebuffed In TNA Bid

Billy Corgan was rebuffed in his move for control of pro wrestling presenter Total Nonstop Action in a Nashville court when it was ruled the Smashing Pumpkins frontman failed to meet the burden of proof for an injunction against TNA’s chairwoman, Dixie Carter.

Photo: Owen Sweeney / Invision / AP

Susquehanna Bank Center, Camden, N.J.

TNA President Corgan sued the company, Carter and others claiming he was owed her voting rights and control of the company because she’d failed to honor loan agreements made with him, according to the Tennessean.

Corgan reportedly made three loans to TNA in recent months, the most recent one with conditions attached – including that Carter would cede her voting rights in event of default. Chancellor Ellen Hobbs Lyle on Oct. 31 rejected Corgan’s argument for an injunction. TNA attorney Travis Parham said the company has received offers for TNA that would repay Corgan with interest, the paper reported.

WWE and production partner Aroluxe Marketing are thought to be interested in taking over the promoter, which has been the home to wrestling stars including Hulk Hogan, Kurt Angel, and Matt and Jeff Hardy.