Report: GFW “hemorrhaging funds”, Anthem is ready to withdraw

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.