The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

WWE, TNA, and all U.S./Canada based graps talk
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mlev76
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The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by mlev76 » Thu Oct 13, 2016 6:44 pm



Dixie Carter is doing to TNA what Trump is doing to the GOP-literally burning the house to the ground, bit by bit.

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Rottenrocker
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by Rottenrocker » Thu Oct 13, 2016 7:58 pm

The DEATH OF TNA book is going to be an amazing read.

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van Fair
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by van Fair » Thu Oct 13, 2016 9:23 pm

Someone must have told Corgan what the term money mark means.
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achillesforever6
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by achillesforever6 » Thu Oct 13, 2016 10:30 pm

I feel bad for anyone who has worked for this company except for the management, Dixie Carter is legit one of the worst human beings to be involved in the wrestling business

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Mootio
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by Mootio » Thu Oct 13, 2016 10:48 pm

Considering Impact Ventures is a Limited Liability Company, what trouble can Dixie actually get into for not paying creditors? And why isn't she named personally in the A01 lawsuit? They are suing Dean Broadhead and Ron Harris by name, alongside Impact Ventures and Aroluxe. Billy is of course suing Dixie and her husband (?).

I mean, from what I understand, Dixie's personal financial investment in TNA has never been subject to record (AFAIK), hence needing outside investment to fund tapings. God knows, she has to be minted. Is this why Billy is sueing? Because when push comes to shove, the capitol he's invested outweighs the capitol that Dixie has invested and thus, he's legally responsible for the debts? I don't know any of the legalities of this so if somebody could enlighten me, that would be fantastic.

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Joe Lanza
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by Joe Lanza » Thu Oct 13, 2016 11:24 pm

Mootio wrote:Considering Impact Ventures is a Limited Liability Company, what trouble can Dixie actually get into for not paying creditors? And why isn't she named personally in the A01 lawsuit? They are suing Dean Broadhead and Ron Harris by name, alongside Impact Ventures and Aroluxe. Billy is of course suing Dixie and her husband (?).

I mean, from what I understand, Dixie's personal financial investment in TNA has never been subject to record (AFAIK), hence needing outside investment to fund tapings. God knows, she has to be minted. Is this why Billy is sueing? Because when push comes to shove, the capitol he's invested outweighs the capitol that Dixie has invested and thus, he's legally responsible for the debts? I don't know any of the legalities of this so if somebody could enlighten me, that would be fantastic.
We have a few lawyers on staff, I will point them here.

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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by Shining Wiz » Fri Oct 14, 2016 3:12 am

Aaron would be better to hit on specifics of us corporate law, but I can hit some generalities.

So, girst off, we don't know a) what capacity Corgan is suing in (as shareholder, aggrieved attempted purchaser, etc) or b) specifically WHY he is suing (can make educated guesse, but still guesses).

The answers to those questions would answer the question of whether Carter is facing any personal liability in the suit. The fact she isn't named personally is a (very, very) strong indication she doesn't. Ventures being an LLP means the directors don't have personal liability for claims against it, and given her family background and their history with the company, I would assume the corporate structure is such as to insulate her from losing personal money through suits, etc.

Her only real issue would be if she had to personally guarantee any debts which the company incurred. Again though, as she is not named personally, this likely is not the case.

As for who has invested more having power, that is not how that works. If Carter originally owned 100% of the stock from inception and bought it for a nominal fee ($1 for example) and later sold 25% for $1 million, the 25% owner does not control the company merely because he invested more monetary than the owner at inception.


Hope that helps.

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rovert
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by rovert » Fri Oct 14, 2016 3:41 am


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Shining Wiz
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by Shining Wiz » Fri Oct 14, 2016 3:47 am

Well, looks like she either borrowed the money personally from Corgan or guaranteed it.


Why she let it get to this point rather than face reality and sell it, who knows.

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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by supersonic » Fri Oct 14, 2016 6:05 am

Billy Corgan vs. Dixie Carter to headline WrestleMania 33 for TNA ownership rights, please. No better city for such a game-changing event but Orlando (or Nashville.)

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rovert
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by rovert » Fri Oct 14, 2016 6:16 am

Shining Wiz wrote:Well, looks like she either borrowed the money personally from Corgan or guaranteed it.


Why she let it get to this point rather than face reality and sell it, who knows.
She doesn't want to be a failure in the eyes of her father is the operating theory.

Selling the library to WWE would offer a scenario where she could spin TNA as a success. In her own head and at dinner parties at least.
Last edited by rovert on Fri Oct 14, 2016 6:48 am, edited 1 time in total.

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kjharris
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by kjharris » Fri Oct 14, 2016 6:37 am

achillesforever6 wrote:I feel bad for anyone who has worked for this company except for the management, Dixie Carter is legit one of the worst human beings to be involved in the wrestling business
Is Dixie Carter a worse human being than Paul Heyman?

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Hobbes
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by Hobbes » Fri Oct 14, 2016 9:22 am

kjharris wrote:
achillesforever6 wrote:I feel bad for anyone who has worked for this company except for the management, Dixie Carter is legit one of the worst human beings to be involved in the wrestling business
Is Dixie Carter a worse human being than Paul Heyman?
I don't know if she's worse, but she's shockingly similar in some respects as of 2016. Stringing people along, lying and stiffing people all to keep her wrestling promotion afloat. She's the classic wrestling promoter who is willing to starve people today to keep the dream of tomorrow's banquet alive. If we're talking past stuff, how she handled the aftermath of the Jesse Sorensen injury is pretty Heyman level disgusting, if Sorensen's side is to be believed.

One big difference is Dixie cultivated an image of the kindly wrestling mother, while Heyman cultivated one as the scheming, pathologically lying genius. In other words, Heyman turned his worst aspects into a PR positive, while Dixie has created a facade that is starting to show cracks that even her biggest supporters can see.

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Joe Lanza
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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by Joe Lanza » Fri Oct 14, 2016 9:26 am

I don't think Paul Heyman is one of the ten worst people to promote wrestling, let alone one of the ten worst people ever involved in wrestling, period.

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Re: The End of TNA? Or the beginning of CFW (Clusterf*ck Wrestling)?

Post by FootOnTheRopes » Fri Oct 14, 2016 9:27 am

Either way I wish this would just be over, instead of this endless marathon of will they, wont they. I can't believe someone who has come from a family of success has got to this point in running a business, surely she has the availability of advisers in all capacities of business to tell her when it was turning into a sinking ship or when was the best time to sell. I guess pride came before the fall and she is now facing a long way down from her lofty perch, if she was ever there in the first place.

It's a huge shame for TNA as a whole as even though it was my cup of tea it at least provided another option for everyone. It will be interesting to see what happens with regards to talent and staff now as there are some very good guys on all sides and could really help any promotion if they still want to be involved with wrestling.

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