Monday, March 26, 2012
TNA reportedly in financial trouble
Wrestling Observer Newsletter editor Dave Meltzer revealed that TNA Wrestling is having financial difficulties as talent and vendors are frequently paid for their services on a delayed basis.
"Vendors and wrestlers are paid late all the time," he wrote on the F4WOnline.com message board. "Janice Carter controls the purse strings. Only a certain amount of money over what they bring in can be spent and it's prioritized where it goes."
Janice Carter, who is the mother of TNA Wrestling President Dixie Carter, gained complete control of the company's purse strings in 2010 reportedly as to put a stop to her daughter's lavish spending sprees after their financial losses were more than parent company Panda Energy International was willing to tolerate. Meltzer reported in January that Carter has set a doctrine of only allowing TNA what is "deemed necessary" in terms of funding as to keep financial losses to a minimum.