Anthem Sports & Entertainment is now floating a $30 million to $50 million asking price for TNA Wrestling, a number that dwarfs the roughly $10 million offer the company rejected without a counter just two years ago.
According to sports journalist Blake Avignon, the steep jump rests almost entirely on the guaranteed value of TNA’s new television deal with AMC, with a right-of-first-refusal clause that complicates the picture for any buyer.
Avignon reported that Anthem President Len Asper has set a $30 million floor, with a preferred range of $40 million to $50 million. The premium, he noted, reflects toxic debt on Anthem’s books that any buyer would be expected to absorb.
Sources: Anthem’s Len Asper has set a $30M floor for a potential sale of @ThisIsTNA, w/ his preferred price in the $40M – $50M range. The premium reflects toxic debt on Anthem’s books that any buyer would be expected to absorb. No deal is imminent, but the number is out there,” Avignon wrote, per Blake Avignon (sports journalist, via X/Twitter).
That figure marks a stark departure from the last known offer. Avignon noted that in 2024, a group led by Scott D’Amore offered roughly $10 million, including assumption of TNA’s debts, which valued the company between $7 million and $12 million. Anthem rejected it outright with no counter.
The AMC Deal Driving The Premium
The biggest change since that rejected offer appears to be television. Avignon reported that TNA’s deal with AMC includes guaranteed money now plus option years that could raise its value down the line.
There is a catch. AMC also holds a right of first refusal on TNA’s next media rights negotiation, which is the wrinkle for any prospective owner.
A buyer isn’t just pricing TNA Wrestling,” Avignon explained. “They’re pricing a television deal they don’t fully control going forward, and Asper’s guaranteed AMC revenue alone gets him most of the way to his floor.
How The Asking Price Squares With Recent Cuts
The valuation casts TNA’s recent workforce reduction in a different light. Anthem confirmed the cuts and framed the move as a way to streamline operations, sharpen focus, and improve profitability.
Fightful Select also reported that at least one TNA source claimed the company is now profitable under Anthem, though Avignon noted that cannot be verified without the full details of the TV deal.
That backdrop adds context to the reported interest from WWE and other parties in acquiring TNA. For now, no sale is imminent, but if these numbers hold, Anthem clearly believes the promotion is worth far more than the offer it turned away in 2024.