Billy Corgan loses legal fight with TNA Wrestling

Billy Corgan
Billy Corgan (Image credit: Getty)

Smashing Pumpkins’ Billy Corgan has lost his legal fight to take over TNA Wrestling – the company which named him president in August.

He’s been working with the wrestling firm since last year, first as a creative producer, and replaced Carter as president in the summer.

Corgan gave the cash-strapped company three loans over the past few months – with the last payment reportedly given on the condition that he’d be permitted to take over the firm if it became “insolvent.”

His lawsuit argued that this was what happened – but the judge rejected the claims because they “did not meet burden of proof.” The judge did, however, order that Corgan’s loans be repaid this week.

Corgan says: “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.

“It’s important to note these proceedings have brought forth facts which illuminate business practices I have fought against for a reason. 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.”

Earlier this year, Corgan hinted he wouldn’t rule out a classic lineup Pumpkins reunion after he revealed he was back on talking terms with his former bandmates, D’Arcy Wretzky, Jimmy Chamberlin and James Iha.

Thinking Out Loud: Billy Corgan

Former TeamRock news desk member Christina joined our team in late 2015, and although her time working on online rock news was fairly brief, she made a huge impact by contributing close to 1500 stories. Christina also interviewed artists including Deftones frontman Chino Moreno and worked at the Download festival. In late 2016, Christina left rock journalism to pursue a career in current affairs. In 2021, she was named Local Weekly Feature Writer of the Year at the Scottish Press Awards.