On the heels of yesterday’s shocking announcement that GFW founder and “Cheif Creative Officer” Jeff Jarrett was being put on indefinitely suspension, a new report says that GFW’s parent company Anthem has been hemorrhaging money into the project and is looking to sell.
Sports Illustrated reports that GFW has been a money losing venture for the Canadian company and that it has to gut its Fight Network to keep up funds on the wrestling company. Seeing its losses mounting, the report states that Anthem Sports and Entertainment is now looking to sell off the company to recoup its losses and get out of the wrestling business entirely.
Anthem first got involved with the former TNA/Impact Wrestling last year when previous majority owner Dixie Carter and part owner Billy Corgan of Smashing Pumpkins fame went to court. Corgan alleged that the company was insolvent and that as part of his deal with Carter, he could take over the company. Carter’s team countered that Corgan was using predatory practices to steal the company from them. A judge ruled that Corgon couldn’t assume control of the company since “insolvent” was never defined in the paperwork and that Carter had to return Corgan’s investment into TNA. Anthem stepped in and paid Corgon and many of the other debts TNA owed and assumed control and majority ownership of TNA from Dixie. After a few months of an adjustment process, Jeff Jarrett was brought back to the company as the “Cheif Creative Director” (head booker). He then changed the named of the company to Global Force Wrestling, The name he owns from his attempt to run his own company after leaving TNA a number of years ago. Yesterday it was announced that Jarrett was indefinitely suspended from his position due to personal issues with no elaboration. Rumored reasons have been for his behavior behind the scenes as well as on camera, including a bizarre appearance during AAA’s Triplemania 25 event. However, those are just rumors.
To boil things down as per this report, Jeff Jarrett is indefinably suspended from the company he owns the name and rights to. If Anthem were to sell, the wrestling company was either go back to TNA or Impact Wrestling (or both) or be renamed again in the span of less than a year. If a sale does happen and Jarrett is not part of the deal, he could go on his own again with the GFW name while the former TNA could go on under a different name, old or new.
Of course, that scenario relies on someone actually buying the TNA/Impact/GFW. Pro wrestling has been a hard sell in the business world now for decades so finding a new buyer may end up being very difficult.
Regardless, it seems the never ending drama related to TNA/Impact/GFW will continue and once again we will have to see where this ends up taking the company this time.
Click Here: Maori All Blacks Store