A year after stepping down as president of TNA Wrestling, SMASHING PUMPKINS frontman Billy Corgan is reportedly close to purchasing the National Wrestling Alliance, according to The Pulse Of Radio. As first reported by PWInsider, the deal would see Corgan purchase the name, rights and trademarks of the NWA as well as the rights and possession of its championship belt.
Corgan, a lifelong wrestling fan, began investing in TNA in June 2016 and helped to finance several of the company’s televised matches. After investing more and acquiring a larger share in TNA, Corgan was named president in August 2016 and announced his intentions to purchase the company. But Corgan was denied the opportunity to buy TNA, after which he resigned from his presidency and sued TNA.
In his October 2016 lawsuit, Corgan claimed that he was entitled to a majority stake in the company — although a judge ruled against him.
He later settled with Anthem Media, which eventually bought TNA, and was paid back his entire investment plus interest, which amounted to a total of $2.7 million.
If the deal with NWA goes through, it is not clear Corgan‘s plans for the National Wrestling Alliance will be or what changes he intends to make as new owner.
Corgan has flirted with buying wrestling companies for years, going back to the late 1990s when he was offered a 10 percent stake in the original Extreme Championship Wrestling.
Speculation has been brewing for months that Corgan is planning to reunite with the original lineup of the SMASHING PUMPKINS for a tour, but Corgan has been largely silent about that possibility since saying in a January radio interview that “things look good” for a reunion.