GFW

According to a new report by Justin Barrasso of Sports Illustrated, GFW is “hemorrhaging funds” and Anthem Sports and Entertainment might be looking for an out already.

Sources close to GFW have reportedly informed Sports Illustrated that Anthem, which officially purchased majority interest in TNA Wrestling back in January after forming Anthem Wrestling Exhibitions, may already be looking to sell. Anthem was forced to make many cuts at the Fight Network in order to finance the TNA purchase.

This news comes just a day after it was revealed that Jeff Jarrett would be taking an “indefinite leave of absence” from his role as Chief Creative Officer, a call that was reportedly made by Anthem’s Ed Nordholm after a meeting in Nashville. It was likely a surprise for Jarrett who had tweeted “big plans” for GFW in September that same day.

To make matters worse, a report by Mike Johnson of PWInsider.com revealed that the merger with Anthem and Jarrett’s Global Force Wrestling was not nearly as completed as publicly touted back in June. Just days before the Slammiversary PPV, Impact Wrestling touted in a press release that they had acquired GFW and that they would re-brand under that name going forward in what appeared to be an attempt to distance themselves from the tarnished TNA Wrestling brand. Trademarks for the Global Force Wrestling name still remain under Jarrett since the launch of the company in 2014. While not confirmed, it’s possible they began the re-branding phase without actually owning the full rights.

The company just completed a six-day taping schedule last month in Orlando that will fulfill all hours needed on Pop TV until the upcoming Bound for Glory PPV on November 5. Whether or not this current situation with Anthem will cause problems for that event remains to be seen. Last September the company found themselves in financial doubt under Billy Corgan, where it would later be revealed that both WWE and Sinclair Broadcast Group (owners of Ring of Honor) showed interest in purchasing the TNA tape library. The same report by PWInsider claimed Anthem made phone calls to talent this week assuring them that everything was okay after the announcement of Jarrett’s leave of absence.

We will continue to follow this story as it develops.

22 COMMENTS

  1. I think it’s time. Time the WWE just outright purchase it the way they did WCW. Get the library, add it to the network, keep the talent they want and release the rest. And get all the trademarks too including that pesky “broken” thing. Lol

  2. Only weird thing about this report is they just spent the money to brand new logos for the Bound For Glory event and announce the logos for the event (not that this cost is anything compared to the cost of running the company), just finished the tapings and that cost (which you would think they hold on if they were trying to jump out), and were just announced to be added to the Wrestlecon event 10 months from now – and of course they just announced their contract with POP for another year. Again, I know all of this doesn’t mean they are not looking for an out (esp. if they are looking to sell they wouldn’t want to appear like they are trying to get out and would want to keep the value looking high) BUT the other thing is it would probably be easier for them to simply shut down the company and keep the tape library since content is what they said they wanted from the beginning and in that case, it wouldn’t make sense for them to be absorbing new costs (just an observation) – I would think the tape library has more value to them than the company and so I would be surprised to see them selling the tape library – but like always, all things are possible.

  3. Could be they are simply switching to plan B…what to do when its time to get out has probably already been in the works from the beginning. Will just have see how it things roll. How could an investor not see the JJ/GFW risks involved. I hope the folks depending on a living make it through OK.

  4. Also strange to see this story on WV right before the announcement other other new deals and the launching of a new 24 hour viewable digital product (in addition to the other announcements from this and last week that I referenced in my other post) – could it be that the story by SI isn’t as accurate as their sources would have us believe?

  5. I wish they would sell the tape library. It would be easier to access on the Network than trying to find one particular match on YT, or DVD on Amazon.

  6. You can get almost everything for free on the Fight App (which surprises me) – I’ve been binging on a lot of the older stuff 🙂

  7. That’s good to know, I will have to check it out. On that point, it’s also dumb for them to try and push “GFW” when their while tape library for 13 years or so blatantly says TNA. You know they won’t edit them all like WWE did.

  8. *MIXED SIGNAL OVERLOAD!*
    *MIXED SIGNAL OVERLOAD!*
    *MIXED SIGNAL OVERLOAD!*
    Other stories say they’re getting a broadcast extension on POP TV, unveiling new logos, and even starting their own friggin’ network. Now we hear Anthem is ready to ditch them because they’re bleeding money…again. Just like with the Billy Corgan/TNA dispute, we hear one thing then hear something entirely different. Time will tell eventually and usually not in TNA/GFW’s favor. And Anthem making phone calls assuring the talent that everything is ok doesn’t mean squat being that’s been done before also.

  9. I’ve been saying this for years…..TNA/GFW and ROH should merge. Two shows like Raw and Smackdown, with interchangeable rosters.

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