Does Billy Corgan Own Impact Wrestling?

There has been much speculation and confusion surrounding the ownership of Impact Wrestling, formerly known as TNA (Total Nonstop Action) Wrestling. One name that has frequently been linked to the promotion is Billy Corgan, the iconic frontman of the Smashing Pumpkins. Let’s explore whether Billy Corgan indeed owns Impact Wrestling or if these rumors are just that – rumors.

The Background

Impact Wrestling has had a tumultuous history with multiple changes in ownership over the years. In 2016, Billy Corgan became involved with the company as its President, lending his creative vision and financial support. However, it’s important to note that being the President does not necessarily equate to being the owner.

Corgan’s Lawsuit

In October 2016, things took an unexpected turn when Billy Corgan filed a lawsuit against Impact Wrestling and its then-owner, Dixie Carter. The lawsuit accused Carter of defaulting on loan payments and sought control of the company. This legal battle certainly added fuel to the speculation that Corgan might soon become the owner of Impact Wrestling.

The Settlement

Ultimately, Corgan and Impact Wrestling reached a settlement in November 2016. As part of this settlement, Anthem Sports & Entertainment Corp., a Canadian media company, stepped in as majority owners of Impact Wrestling while Dixie Carter retained a minority stake.

The Current Ownership

As of now, Anthem Sports & Entertainment Corp. holds majority ownership of Impact Wrestling. Ed Nordholm serves as the Executive Vice President and Scott D’Amore as Vice President alongside Don Callis as Executive Vice President.

Billy Corgan’s Involvement Today

Although Billy Corgan is no longer directly involved with Impact Wrestling’s ownership, his contributions to the promotion should not be overlooked. Corgan’s tenure as President showcased his creative prowess and brought some fresh ideas to the table.

In Summary

While the rumors of Billy Corgan being the owner of Impact Wrestling were rampant during his time as President, they were ultimately proven to be untrue. The ownership of Impact Wrestling currently resides with Anthem Sports & Entertainment Corp. Nevertheless, Corgan’s involvement in the past has undoubtedly left a lasting impact on the promotion.

It is essential to separate fact from fiction when it comes to ownership rumors in professional wrestling. As fans, it is our responsibility to stay informed and rely on credible sources for accurate information.