TNA NARROWLY avoids financal disaster

Things just aren't getting better for them. They really seem to be on the verge of being over with. How long can they keep holding on like this? How many more tricks up her sleeve does Dixie have to keep her company afloat.

Source: PWInsider.com

This past Saturday morning TNA’s Chief Financial Officer and Chief Operating Officer Dean Broadhead put up a post on his personal Facebook page saying he had to, “secure interim financing,” within a twelve hour window in order for, “production trucks to roll,” for this weekend’s events.

He wrote that between Thursday and Friday of last week he had logged over eighty phone calls on his personal cell phone to different attorneys, vendors, bankers and employees. He, again, noted that he only had a twelve hour timeframe in which to deal with all of these people that were spread out all over the world. He also said, “Maybe it’s time to retire. But maybe not until everything is in it’s right place.”

According to sources that PWInsider spoke with, if Broadhead were to follow through with retiring it would be a major loss for TNA. It’s being said that Broadhead’s financial management is a major reason that the company has been able to exist the way it has for the last few years.

PWInsider notes that Aroluxe had been handling the financial end of TNA’s TV production so it may have been a case of TNA having to reimburse Aroluxe in order to move forward with producing Slammiversary and TV tapings. They also note that over the weekend Billy Corgan came close to or has already come on board as a new minority owner in the company. Corgan’s investment may have helped TNA salvage the weekend.

PWInsider finishes by noting that they are told there are three potential suitors that they could strike a deal with soon.