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Billy Corgan Out As TNA President, Takes Shots At Company

Less than three months after he was named president of the company, Billy Corgan's run in TNA is officially over. The Smashing Pumpkins frontman was named president of IMPACT Ventures back in August, which owns TNA and Impact pro wrestling. He was also said to have been the potential new owner of the company as recently as last month.

However, a massive dispute between Corgan and company chair Dixie Carter ensued after Corgan learned about secret negotiations with WWE.

Corgan sued to take control of the company after loaning it $1.8 million, but a judge denied his request earlier this week.

Anthem Sports & Entertainment and Impact Ventures have issued a statement saying Corgan is no longer with the company, offering no further explanation. You can read the full statement here.

Corgan has addressed the situation on Twitter, saying the company still owes him money.

FACT: TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge. Yesterday they asked for a day to 'get $ together'

— WPC (@Billy) November 3, 2016

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

— WPC (@Billy) November 3, 2016

FACT: I have still not been paid, and I'm exploring all remedies including new filings with court and converting to 36 pct. equity

— WPC (@Billy) November 3, 2016

All in all, this sounds like a nasty split and will likely require a lot of time in court to settle it.

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Billy Corgan Out As TNA President, Takes Shots At Company