Corgan Unsure of TNA Future, Bound For Glory

Billy Corgan still is not sure if he will be able to buy TNA, or if the Bound For Glory pay-per-view will happen as planned this Sunday, but said "If you order that pay-per-view, and I'm standing in that ring, it will be one crazy pay-per-view."

Corgan discussed his bid to buy the wrestling promotion in an in-depth interview conducted on Wednesday by Busted Open Radio.

Reports earlier this week came out that TNA was deeply in debt and running low on available funds as attempts were made to sell the company. These money issues had it in doubt whether Bound For Glory would happen. Dave Meltzer reported that WWE was one of the potential buyers and, if that deal went through, Bound For Glory would not happen this Sunday and TNA effectively would be finished as WWE only would be making the purchase to obtain the video library.

While Corgan said he could not talk about specifics on the sale for legal reasons, he elaborated as best he could.

"I am working very hard to acquire a majority share of this company, and to keep it moving forward," Corgan said during the radio interview, adding that his ownership bid was a sole one. "This is completely out of my pile. I am committed."

Corgan noted he had stepped up to fund the previous three rounds of TV tapings and that "and we negotiated what I got for that funding."

Corgan also discussed his dealings with talent, noting he had an open-door policy and praising the roster for no one going inton business for themselves.

"I have received so much more love and support in pro wrestling than I ever did in the music business. It's an incredible fraternity," he said.

Corgan noted that he wants to buy TNA with a long-term goal in mind, saying he hoped to stabilize the future of the company, which began operations in the summer of 2002, for another 20 years.

"I have the funds to step forward. But if stepping forward means two months from now, we're in the same spot, what did I accomplish?" he said. "The respect of the locker room is why I don't want to make some s—– deal. I want to make a deal to move TNA forward for 20 years."

Financing to broadcast the pay-per-view would need to be complete by Sunday and it appears the future of that event, and TNA in general, remains uncertain although Corgan's wishes to take over full control of the company appear quite clear.

"I remain optimistic that on Sunday I'll be in the ring putting over what is about to happen," he said. "I will be in Orlando on Sunday."