According to Brett Buchanan of AlternativeNation.net, he has spoken to a "second hand source" and can confirm Billy Corgan's intent to purchase TNA Wrestling, stating that the buy-out may even be a "done deal". This confirms our exclusive report made Friday, revealing Corgan as an interested party in the buying race for TNA Wrestling.
I have heard from a second hand source who is close to a key figure in the rumored TNA Wrestling sales discussions who has verified that Smashing Pumpkins frontman Billy Corgan is far along in his talks to purchase the company. This source went as far to say that he believes it is a “done deal” that Corgan will buy TNA, though the source didn’t know what percentage Corgan will be purchasing or the specifics of the deal. The source also says that Corgan has recently made a connection to somebody very wealthy, though it is not known if this party would have anything to do with the deal.
Right now the entire TNA situation is a lot of speculation and rumor. Janice Carter, Panda Energy executive and Dixie Carter's mother, even came out with a statement given to all TNA employees, denying that the company is for sale.