Billy Corgan Suing Dixie Carter: The Battle for Ownership of TNA

[TDFG]

What are the salaries like in TNA? If they are going to do limited tapings like they do now how do they keep talent?

Complicated.

Some talents get exclusive deals, others get paid by appearance.

Moose for instance:-

The Observer reported sources said the TNA deal is for $80,000 the first year, and $96,000 in the second year of a two-year deal. TNA sources have reportedly disputed this and said it’s $75,000, and it’s a similar contract to ones offered to The Hardys, Ethan Carter III and Drew Galloway, and the same ones signed by The Wolves, Lashley and others. TNA will reportedly have rights to book Moose to a maximum of 110 dates, which was also reported by PWInsider.com, and Moose will retain rights to book himself with certain independent promotions.

 

[rmp0012002]

Complicated.

Some talents get exclusive deals, others get paid by appearance.

Moose for instance:-

The reason I asked was that since they don't tour or do house shows but various PPV's and group tapings that they get paid pretty good salary for not much work for TNA. Sounds like a good gig if you also are allowed to book side work also.

 

[GhettoV1]

I wonder if James Storm thinks if there is a chance TNA may not have a schedule for taping after March.

 

[johnbragg]

The reason I asked was that since they don't tour or do house shows but various PPV's and group tapings that they get paid pretty good salary for not much work for TNA. Sounds like a good gig if you also are allowed to book side work also.

The TNA guys who are on salary (like Moose for 110 dates) get shipped out to other promotions, who pay TNA for using their talent. (It sounds like there are a handful of exceptions in Moose's contract that he or his agent can book directly.)

I'm not going to say TNA pimps out their athletes, but you could look at it that way.

EDIT: And, with Anthem taking over and taping four times a year (probably), expect them to rework the contracts yet again. A year or so ago, TNA made a big push to get their guys signed to salaries so they could hire them out to other promotions--I'd expect Anthem to push the wrestlers to take less money for fewer dates and give them freedom to book themselves wherever and whenever except for 4 two-week windows when TNA will be taping.

 

[GhettoV1]

Only taping 4 times a year sounds crazy maybe every 3-4 weeks at best. It worked for WWE and WCW(ok they did tape Worldwide and later Pro at Disney MGM & Universal Studios four days a week every 4-5 months by 1995-96) but it was enough so by the time the shows from said taping aired it wasn't old footage being used.

 

[johnbragg]

Only taping 4 times a year sounds crazy maybe every 3-4 weeks at best. It worked for WWE and WCW(ok they did tape Worldwide and later Pro at Disney MGM & Universal Studios four days a week every 4-5 months by 1995-96) but it was enough so by the time the shows from said taping aired it wasn't old footage being used.

Well, they've blocked out the Impact Zone for 6 days of taping in January, apparently for 12 weeks of Impact, with the next tapings in March. (Challenge UK isn't paying a rights fee for ONOs anymore, so those are not happening, AFAIK.)

Wild speculation: maybe Anthem plans to put "seasons" of Impact on their app, Netflix style?

 

[johnbragg]

I thought we had a separate thread for it, but for those keeping track of what TNA owes to whom, $50,000 to their merchandise designer

That goes on the list with
Billy Corgan $1.8M ($2.7M claimed)
Aroluxe $1.8M
Anthem $1.6M
Audience of One $250,000
AmEx (Travel) $250,000
BankDirect $250,000
Eric Bischoff $100,000
Fraley International $50,000

I've rounded all the numbers, I may look them up later or I may spend my time more usefully.

 

[Navi]

I thought we had a separate thread for it, but for those keeping track of what TNA owes to whom, $50,000 to their merchandise designer

That goes on the list with
Billy Corgan $1.8M ($2.7M claimed)
Aroluxe $1.8M
Anthem $1.6M
Audience of One $250,000
AmEx (Travel) $250,000
BankDirect $250,000
Eric Bischoff $100,000
Fraley International $50,000

I've rounded all the numbers, I may look them up later or I may spend my time more usefully.

I know about most of the major amounts owing due to the fact it's been reported over and over again, but this is the first time I'm seeing Bischoff's name on the list. My guess is he will be one of the last one to get anything if TNA does declare bankruptcy. And what exactly is he owed money for?

 

[dsotm5150]

Bischoff has an ongoing lawsuit for breach of contract and/Or wrongful termination.

 

[dsotm5150]

I thought we had a separate thread for it, but for those keeping track of what TNA owes to whom, $50,000 to their merchandise designer

That goes on the list with
Billy Corgan $1.8M ($2.7M claimed)
Aroluxe $1.8M
Anthem $1.6M
Audience of One $250,000
AmEx (Travel) $250,000
BankDirect $250,000
Eric Bischoff $100,000
Fraley International $50,000

I've rounded all the numbers, I may look them up later or I may spend my time more usefully.

By my rough calculation, TNA owes northwards of 6 - 8 million dollars(depending on what's truly owed to Corgan) just based on this list. That's not even calculating in their back taxes owed to Tennessee or their back pay owed to talent and staff.

 

[stingray11214]

Well, they've blocked out the Impact Zone for 6 days of taping in January, apparently for 12 weeks of Impact, with the next tapings in March. (Challenge UK isn't paying a rights fee for ONOs anymore, so those are not happening, AFAIK.)

Wild speculation: maybe Anthem plans to put "seasons" of Impact on their app, Netflix style?

Which App? Fight or FITE? They are two different Apps by two different companies.

 

[johnbragg]

https://assets.documentcloud.org/documents/3212935/10-26-16-Exhibit-a-Dixie-Carter-Affidavit-OCR.pdf

Found this linked from another board.

Interesting bits:
(2.) Confirmation that Dixie Carter owns 92.5% of TNA, Aroluxe 5%, Anthem 2.5%.

(16.) There was a July tentative agreement to sell 52.5% of TNA to an "Aroluxe Consortium". That would have been
52.5% Aroluxe Consortium
27.5% Dixie Carter
12.5% Billy Corgan
5% Aroluxe
2.5% Anthem

(21.) That was amended in August with Corgan's third loan to
52.5% Aroluxe Consortium
22.5% Billy Corgan
17.5% Dixie Carter
5% Aroluxe
2.5% Anthem

That went up in smoke when Aroluxe couldn't put their Consortium together.

(29.) Carter's filing also argues (fairly reasonably) that Corgan valued TNA at <CENSORED>, since he agreed to convert his loan of <CENSORED> into partial ownership of TNA. Since the loan amounts have been revealed elsewhere, and since I can do sixth-grade math, that sets the value of TNA this summer at $8,000,000. (22.5/100 = $1.8M/X, solve for X, X = $8M)

(38.) "<CENSORED BUT PROBABLY WWE> "made a purchase offer at a price very similar to Corgan's valuation." Interesting, I didn't expect WWE to bid that high for the tape library.

(74.) According to Dixie Carter's court filing, "There is no agreement to sell Impact or its assets."

 

[Navi]

I don't think for one minute reading more into this that Dixie Carter ever had any intention of selling TNA to anyone. She was just out to get investors for the company and once one starting to make a fuss, get rid of him and go looking for others.

Looked up Aroluxe and it is a dog's breakfast. Two former wrestlers work for them Don and Ron Harris, and they've been involved with TNA for over a year now. They have also been sued by another production company for not paying for services for another TNA PPV. According to their wiki page, Aroluxe was in negotiations in April 2016 to buy TNA. I guess that all fell through.

The people you have to feel sorry for the most are the wrestlers who work for these people. The more that comes out about this the worse TNA looks publicly.

 

[d_henderson1810]

I hope by Monday evening this whole Dixie vs Corgan saga finally ends and TNA has been put to rest six feet under.

Yeah, I want TNA PPVs on WWE Network, TNA in the WWE2K18 video game, and "Broken" Matt Hardy and Brother Nero trying to "Delete" WWE!