Smashing Pumpkins frontman Billy Corgan is set to become a minority owner of TNA Wrestling, according to PWInsider.com.
According to sources close to the situation, Corgan has agreed to invest significant funds to become a minority owner in the Nashville-based promotion – and the deal may already be a done deal.
Corgan joined TNA back in April of 2015 and currently serves as Senior Producer of Creative & Talent Development. The investment shows that he believes TNA will get through this rocky period. Corgan’s willingness to accept a minority stake allows Dixie Carter to retain controlling interest, a negotiating sticking point that led to a breakdown to negotiations with other buyers.