Judge rules against Billy Corgan

In a shock turn of events, Dixie Carter edged one step closer to gaining back control of TNA with her rival set to lose the hearing.

Judge rules against Billy Corgan
Billy Corgan seems to be losing his grip on TNA (image: Joel Lampkin)

The future of TNA was once clouded in doubt and for now, however, it seems that cloud is clearing, as the future of the company becomes clear.

Billy Corgan is looking likely to lose his attempt to gain full control as a judge rules against his temporary injunction.

Dixie Carter and the current TNA president have been head-to-head in a rivalry and it seems set to continue, although this decision will be a major blow to his attempts.

Court update

Judge Hobbs Lyle has reportedly ruled against the request of Billy Corgan who filed for a temporary injunction which now allows Dixie Carter and TNA to go ahead with business decisions without seeking his approval.

This is a landmark step for the business woman who will be able to sell the company if she so wishes although she may still have to enter her own pockets if she is to profit.

TNA still owes Corgan $1.8 million dollars as he loaned them to fund their T.V. tapings and other needs although the 49-year-old can convert the debt into a 36% ownership stake in the promotion.

As of yet, it is looking increasingly likely that TNA will be sold, more than likely to Anthem Sports and Entertainment - the parent company of The Fight Network.

A minority shareholder in the company; Aroluxe Media is likely to stay involved, in order to produce future television shows - providing this all goes to plan, Dixie Carter will likely remain in a position within TNA.

The case will continue, however, although this decision will overall serve as a massive blow to Corgan's chances of taking full control.

They respond

Following the ruling, Corgan spoke out on Social Media regarding the decision and he said: 

Twitter-

@Billy - "For those asking, I'm in no way disappointed in the judge's ruling regarding TNA. Rather, I'm grateful the judge considered the case."

@Billy - "It's important to note is these proceedings have brought forth facts which illuminate business practices I have fought against for a reason."

@Billy - "And I suggest that a careful reading on the judge's ruling supports there can be no claim of victory by anyone in a position of authority."

Some of the talent also let their feelings be heard and Mike Bennett made his in a rather subtle way as he said:

@RealMikeBennett - "Welp,back to bad business as usual."

While things may seem dark now, the fact that TNA remains open for business even after this mess is nothing short of a miracle. with all of their talent retained and a new steady leadership, hopefully, they can return to the heights they once reached.