Billy Corgan

Billy Corgan continued to rip into TNA and Anthem, the company behind the Fight Network, in a series of tweets on Friday, notably mentioning that he has still yet to be paid back his $1.8 million that he loaned to TNA over this past summer that was ordered by a Tennessee judge to be paid back to Corgan by November 1 (this past Tuesday).

Corgan also threatened, as seen above, to convert the money he put into TNA into 36% stock in the company, or use his option to sell off his stock to another bidder, with the implication being that he would sell it off to WWE. There is no word on if Corgan has been paid back his loan by Anthem as of Saturday afternoon.

10 COMMENTS

  1. i’m on corgan’s side, but damn, this addiction to tweeting (putting your life out there for EVERYONE to see) that people have… goddamn!

  2. I like Billy and understand how frustrated his must be, but doesn’t he have a lawyer (perhaps the one from the trial) to deal with this and wouldn’t that serve him better than a Twitter battle??? Seems it would cost more to back to court than have his lawyer go after them to expedite repayment.

  3. Good for Corgan on tweeting everything. It further exposes how much of a fraud both Anthem and Dixie/TNA are. They can’t even honor a court order from the judge, they have to lie and bullshit their way through this. There’s really no debating this situation. Corgan is owed money, and its well past the deadline now. I’d be pissed too, considering the circumstances and how much TNA has screwed with Corgan already.

  4. The lawyer already dealt with it, and the result was the court order to repay him by the 1st. Anthem and TNA are stalling, after promising to repay him on time, and he’s using a public forum to call them out on their bull crap. And since the repayment is already past due, there’s no way to expedite it. It’s completely in Anthem/TNA’s hands, and Corgan is getting pretty pissed – and understandably so – that almost $2,000,000 isn’t making its way to him.

  5. I don’t want to get into a detailed overview but there absolutely are multiple options for Billy’s lawyer to expedite it (I’ve been through this with my company twice) and it seems like Billy isn’t engaging his lawyer to take care of it for him, but either way, is discussing it doesn’t help him.

  6. I stand by my assertion that this the best work sports entertainment’s seen since the nWo. Twitter really is the new kayfabe.

  7. He loaned them 1.8 but he say’s they owe him 900,000 if management changed without his knowledge (which the judge disagreed with) and since the case is still open I guess he is holding out hope he’ll get awarded the 900′ or still feels he is owed it because he feels the management did change before the trial and once he proves that he’ll get the extra 900′ (again, the judge disagreed and said she could see no proof that at least by trial time Anthem had taken over Dixie’s shares).

    I was confused by the 2.7 as well but he loaned 1.8 (which I think actually includes the interest owed on the loan) and the extra 900′ he feels he is owed. Hope that helps explain.

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