Billy Corgan Is No Longer Part of TNA Wrestling

Less than three months after being named its president, Smashing Pumpkins leader Billy Corgan has parted ways with TNA Wrestling. This comes only one day after he was denied in his efforts to take control of the company by a judge.

Consequence of Sound found that, earlier today (Nov. 3), TNA Wrestling put out a press release saying that they had received new funding from Toronto-based Anthem Sports & Entertainment Corp. As part of the agreement between the two, it read, “Dixie Carter will continue as Chair of the Company, as well as her position on the Board of Managers. Billy Corgan is no longer with the company.” That was the only mention of Corgan; there was no standard language about thanking him for his efforts and/or wishing him well in his future endeavors.

However, Corgan isn’t going quietly. He says that he is still owed money that he loaned to the company. He laid out the scenario in a series of tweets. “FACT: TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge,” he wrote. “Yesterday they asked for a day to 'get $ together.’ Upon which, (yesterday or today) they'd 'reach out directly' to settle ALL claims. So they lied again and have used the time as a weapon. FACT: I have still not been paid, and I'm exploring all remedies including new filings with court and converting to 36 pct. equity.”

Corgan joined TNA in April 2015 as a senior producer, where he was responsible for developing characters and story lines for their Impact Wrestling program. He also wrote a new theme song for the show called “Roustabout.” Back in August, he became its president, with Carter calling him a “visionary, an iconic artist and savvy businessman with an incredibly gifted creative mind” and “a deep passion and understanding for professional wrestling.” However, that relationship appears to have soured quickly, with Corgan suing to strip Carter of her power, citing terms stipulated in his loans. But a judge ruled that the agreement was legally non-binding.

Now, with plenty of time on his hands, maybe he can get back to his music career. This summer, he revealed that he had a few projects in the works, and that he had patched up his friendship with former Smashing Pumpkins bassist D’arcy Wretzky, who was fired in 1999. Still, he said that their relationship had not progressed to the point where they could discuss a reunion.

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