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rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


http://pwinsider.com/article/109356...rchase.html?p=1

PWI Insider posted:

Smashing Pumpkins front man and former TNA Wrestling President Billy Corgan has agreed in principle to purchase the National Wrestling Alliance, PWInsider.com has confirmed with multiple sources. The deal in place would see Corgan purchase the name, rights, trademarks to the NWA as well as the rights and possession of the NWA championship belt.

Formed in 1948, at one point the National Wrestling Alliance was the largest and most well known governing body in professional wrestling, a group put together by promoters to share one World champion and help share talent and protect each other's interests. The NWA Board of Directors would control who the shared World champion was and winning the belt was legitimately a feat in itself, because the champion was chosen for legitimate toughness, drawing power and the ability to enter member areas and help spark their business. For decades, the NWA champion was considered the most important champion in the business, often touring and traveling the world to defend the belt for member promotions. For older fans, the NWA championship was the belt in professional wrestling and was the measuring stick for greatness and what defined old school professional wrestling.

By the late 1980s, many of the members had gone out of business or been neutralized as Vince McMahon took the then-WWF national, helping to effectively destroy the territory system that the NWA flourished under. As the dust of WWF's expansion settled, the last true bastion of the old NWA was Jim Crockett Promotions, who waged a war against the WWF, empowered by names like Sting, Ric Flair, The Road Warriors and Dusty Rhodes. In the end, financial issues forced the Crockett family to sell to Ted Turner's Turner Broadcasting, who's TBS Superstation broadcast Crockett TV. While the NWA name was still utilized, Turner had not actually purchased the NWA itself, just the Crocketts' promotion.

By 1991, the NWA name was dropped after a dispute and Turner's company was re-titled World Championship Wrestling publicly. WCW tried again to work with the NWA in 1992 (including working with them and New Japan to crown a new champion in Mahahiro Chono) but that association was done the following summer when booking decisions were made to change the NWA title without consulting the NWA Board of Directors, who in theory still had power to approve or deny who carried the belt. At the time WCW, was filmed television months in advance and filmed material with Rude holding the belt. While the decision was made to move the belt from Ric Flair to Rick Rude, the NWA was never consulted. The NWA cried foul and by the time the Flair vs. Rude feud actually took place, it was over "the big Gold belt" and later, the WCW International World championship, clunky ways of getting around using the NWA name.

With no national outlet, most fans viewing at home likely believed the NWA just happened to morph into WCW. The reality, however, was quite different as the NWA soldiered on, albeit it on a much smaller scale, with the late Dennis Corralluzo being its prime (and in some cases, sole) cheerleader in attempting to bring the brand some notoriety New members were added, including Tod Gordon's Eastern Championship Wrestling. In August 1994, an attempt to crown a new champion at an ECW event instead resulted with Shane Douglas throwing down the title he had just won, instead declaring the NWA an organization that "died, R.I.P., seven years ago" en route to declaring the ECW championship the ECW World title.

The reality was, Douglas wasn't really lying. By the mid 1990s, the NWA was on its last legs. At one point, it almost shut down before Howard Brody was named President and asked members to give him one year to try and make things work. By the end of that year, the NWA was featured briefly on WWF TV. While that run was anything but memorable, the exposure on WWF television led to a slew of new member promotions paying to join the organization, saving it from going out of business and renewing it as a viable option for independent wrestling promotions. That story, and many others recounting Brody's attempts to keep the NWA viable can be found in his excellent autobiography Swimming with Piranhas.

In 2002, the Jarretts came to the promotion seeking the rights to utilize the NWA championship for their new venture, TNA. The organization agreed to a licensing deal and the rights to the championships. For the first several years of TNA's existence, the NWA title was the top championship and prize for the organization until a falling out over money led to the NWA pulling the rights to those belts. TNA responded by crowning the first TNA champion. Again, to the average viewer, the NWA disappeared.

The NWA was once again back to being a collection of independent wrestling promotions who shared the champion and the NWA banner, although a far cry from the united front that existed in the territory era, with names like Adam Pearce and Colt Cabana attempting to bring attention to the championship.

In a strange twist of events, Bruce Tharpe's International Wrestling Corp, LLC, sued the NWA and a number of its banner members in 2012, alleging insurance fraud regarding the liability insurance policy that was shared among NWA members. In a legal maneuver that has yet to ever be explained publicly, Tharpe was able to leverage the lawsuit into gaining ownership of the NWA brand, seeing a number of groups that were involved (including Dave Marquez' Championship Wrestling from Hollywood, at the time, one of the few NWA outlets with legitimate TV) depart the company. The change-over was captured firsthand in Adam Pearce's documentary Seven Levels of Hate, which was designed to capture his feud with Cabana but by the end, turned into a story about how they were now fighting for a title owned by a promotion that didn't care about what they were trying to do and indeed, didn't want Cabana as champion. In the end, both exited the promotion after vacating the belt in Australia.

Under Tharpe, the NWA changed from a group that allowed members to join to a promotion that instead licensed the NWA letters out to those willing to pay to use them. The promotion has at times worked with New Japan since Tharpe acquired it, but in recent years, the NWA's blip on the radar screen has increasingly faded over time, with little television exposure beyond what bookings the champion (and Tharpe) have gotten from NJPW. In an interesting piece of trivia, prior to the Tharpe takeover of the NWA, Sinclair Broadcasting looked into buying the promotion as they were seeking out wrestling programming. In the end, they passed and instead opted to purchase Ring of Honor, which they have operated since they acquired ROH in May 2011. So, in an alternative universe somewhere, the NWA is on Sinclair Broadcasting every week while ROH likely no longer exists.

Once finalized, the purchase of the National Wrestling Alliance would be Corgan's first move within the professional wrestling world since departing TNA Wrestling after failing to purchase that promotion. Corgan began investing in TNA in June 2016, helping to finance the company's Slammiversary PPV and subsequent TV tapings as part of a deal that saw him purchase a minority share in the company. Additional investments in the company led to Corgan acquiring a larger share in the company and on 8/12/16, TNA issued a press release announcing that Corgan had replaced Dixie Carter as the President of the company and would be handling the day to day operations of the company while Carter would "focus on long-term planning, strategic partnerships and global growth."

Shortly after being named President, Corgan announced his intentions to purchase the company and potentially change its name from TNA. He had meetings with different cable outlets about potentially working with him and TNA once that purchase was complete, but as time would tell, it never happened.

Corgan's negotiations to purchase the company saw him unable to close a complicated deal that would see him not only buy the company from Dixie Carter, but other minority owners including Aroluxe and The Fight Network. During promotional appearances to push the Bound for Glory PPV in October 2016, Corgan admitted that he had financed the three previous rounds of TNA Impact Wrestling tapings, describing those deals as last minute agreements where the "ink was drying" as talents were heading to the ring. He made it clear he would not be financing the Bound for Glory PPV tapings and subsequent TV tapings publicly. As it turned out, Anthem Media, the parent company for The Fight Network, silently backed the tapings in preparation of that company eventually acquiring TNA.

Upset over investing in something he would not end up being able to purchase, Corgan (still President) filed a lawsuit against TNA parent company Impact Ventures LLC, TNA Wrestling itself, CFO Dean Broadhead, President Dixie Carter and Serg Salinas in Chancery Court of Nashville, TN in October 2016. In that lawsuit, he sought a declaration from the court that he was, by virtue of a pledge agreement he made with Carter, entitled to Carter's 92.5% of the company, her voting rights and had the ability to replace the current managers with designated managers of his choosing. The court did not rule with him on those matters. Corgan also sought damages for the breach of contract, and at one point, had a temporary injunction preventing the defendants from making business decisions that could "further harm" Corgan and the company and prevented them from attempting to sell the company or it's assets until the lawsuit is resolved. Corgan's lawsuit revealed that while he had been named President, Dixie Carter was still acting without his knowledge to make deals on the company's behalf, including a potential sale of TNA assets to WWE that ended up not happening.

In the end, Anthem Media agreed to settle Corgan's dispute and it is believed he was paid back his entire investment in TNA ($1.9 million) as well as interest ($2.7 million total). Anthem Media now holds majority ownership of that company. In the ruling dismissing the lawsuit, Chancellor Ellen Hobbs Lyle noted that the lawsuit was being dismissed without prejudice. That meant that Corgan would be free to re-file the suit down the line. In an interview with PWInsider.com following the settlement, Corgan made it clear that the settlement only released TNA, Impact Ventures LLC and Anthem from future legal claims, meaning Carter, Salinas, Broadhead and perhaps others could still find themselves in Corgan's legal crosshairs. To date, however, that has not happened.

After Anthem Media gained control of the company, Dave Lagana exited TNA, citing publicly on Jim Ross' podcast that no one could tell him who was in charge and he felt it was better to carve his own future. Lagana has worked with Corgan since, touring with him while documenting a cross-country road trip with that material posted daily on Corgan's social media platforms. One would expect that Lagana would be involved in some form in whatever Corgan's plans for the NWA brand are, if and when the NWA acquisition is completed. Matt Conway, who was Lagana's partner in creative in TNA, no longer works for Impact, so he may be free to work with Lagana and Corgan as well.

A lifelong pro wrestling fan, Corgan has flirted with his involvement in professional wrestling for years. In the late 1990s, he made numerous appearances for the original Extreme Championship Wrestling but rebuffed Paul Heyman's invitation to purchase 10% of the company for $1 million, feeling that the company wasn't worth $10 million at the time. At one point, Corgan acquired the ownership of the old Bob Luce wrestling library, comprised of material from the time period Luce was promoting professional wrestling at The International Amphitheater in Chicago. Corgan would later get involved in Chicago's Revolution Pro, working in creative and acquiring a deal to bring that promotion to AMC as part of a reality series before AMC opted to shut down its reality TV end. Corgan would later pull out of Revolution Pro.

A number of questions remain as the deal closes including what does new ownership mean for the current NWA member promotions and what would this mean for the NWA on Demand Video service. Of course, the biggest question revolves around what exactly Corgan's plans for the National Wrestling Alliance will be.

We will have to wait for those answers as attempts by PWInsider.com to reach Corgan for comment have, thus far, been unsuccessful.


I don't even.

Speculate all the dumb things this could lead to here, up to and including a war between NWA and TNA, or Corgan purchasing TNA and a return to NWA:TNA.

Nothing is off limits anymore.

Edit: 5/30 UPDATE: BILL CORGAN IS DESTINED TO NOT BE IN THIS STUPID BUSINESS

Aye Doc posted:

there is a hitch in billy corgan's masterplan for NWA world dominance

http://www.pwinsider.com/ViewArticle.php?id=109950

Multiple sources have told PWInsider.com that the deal is described as "in jeopardy" due to issues regarding the transfer of the existing copyrights and trademarks for the National Wrestling Alliance.

PWInsider.com research indicates that the copyright and trademark on the brand name lapsed last year with his International Wrestling Corp, LLC applying for it again on March 30th of this year. The trademark has not been officially assigned, theoretically making it impossible for them to be transferred to Corgan.



Edit: 10/11 Update: The era of the NWA Mountain States of the world is over. Farewell, sweet Stro.

Luigi Thirty posted:

Corgan did a podcast interview. Highlights: Weekly free internet TV, hoping to start running shows in spring 2018, and no more NWA licensee promotions.

rare Magic card l00k fucked around with this message at Oct 11, 2017 around 18:45

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rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


He might be thinking of then-57 Ricky Morton winning the NWA Light Heavyweight Championship.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


The NWA Champion is older than Goldberg.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Could a mod change the topic title to NEVER MIND thank you

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Never apply logic to desperate money marks.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...



Do you have any scoops on what's going on with Corgan/NWA, and if so, would you mind sharing with the class so I can update the OP with the latest rumors on the biggest story in the history of wrestling?

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Luigi Thirty posted:

The promotions were of such low quality that they reflected badly on the brand.

This is....surprisingly aware of Billy?

And did he specify what 'free internet TV' meant, like havig his own NWA website he'd be streaming on, Twitch, etc.?

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Obviously rename NWA to TWA and turn it into the Twitch Wrestling Alliance.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Jerusalem posted:

Samoa Joe and Sid had an ugly baby

That man is older than Samoa Joe by over a decade.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


oatgan posted:

so they actually did float the idea of jerry winning the title but decided against making any moves like that until they have more names attached to the nwa and real infrastructure

you know how you get real names attached to the nwa

you go 'hey join us and you can wrestle tim storm'

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


I hope NWA vs. TNA becomes the wrestling war that shocks the world to its core.

With laughter

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


rovert posted:

It's official Tim Storm vs Nick Aldis for the NWA World Heavyweight Championship is set for 11/12 at the next set of Championship Wrestling from Hollywood tapings.

https://www.youtube.com/watch?v=XwnhA2pT5aY

Pro: This was a pretty solid video outside of Billy Corgan. I'm somewhat interested in Storm vs. Aldis now.

Con: Most of the video was Billy Corgan.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Watching the other two parts, they do a really good job of making Tim Storm a likable babyface. Which makes it all the more baffling that they made part three mostly about Billy.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


ChrisBTY posted:

The NWA name is associated with concepts like 'antiquated' 'outdated' 'A husk of its former self'. It has a lot of baggage in the sense that it's almost impossible to take seriously in 2017.
You see Corgan trying to buy the NWA and think 'oh THAT thing "
Not exactly a positive connotation when you're trying to build a brand.
And what's the upside? Because I'm not seeing one.

The upside is that Billy Corgan also thought TNA was a positive brand, so he think any brand value is good value.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Aesop Poprock posted:

That uh... kind of just seems like another downside. A bad one

It is an upside in that it is funny to me.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


I open the stream, first thing I hear is "Coach Flexo".

Good, good.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


lol that finish

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


if the plan for the nwa is to make me like someone, want to see him succeed against an opponent i know in my brain he should lose to, and then he wins, that is more than the nwa has ever given me in my lifetime

the finish was lol and the match was 'okay', but the guy i wanted to see won so woo

Chris James 2 posted:

If it means there's going to be more 10 Pounds of Gold vids, I still care

Those videos are awesome

also this, those videos were rad outside of billy

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


ChrisBTY posted:

Alright. NWA has 10 pounds of gold and Tim Storm.
Do they have anything else that might be called an 'asset' or 'resource'?

They have the most valuable resource of all for a wrestling promotion.

A stupid person willing to lose a lot of money in charge.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


credit to billy, i didn't think he had it in him to have an actual kinda interesting nwa champion only to throw it away for a tna failure

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Jerusalem posted:

So the first part of KaneBilly Corgan's 20 year plan was to keep Tim Storm as champion, bizarrely build up actual interest in him as Champion... then have him lose the belt in 5 minutes on a single-cam setup match at CZW against loving Magnus of all people?

What's insane is that Billy did a good enough job of it to actually get interest in Storm. I bet he would have had a ton of solid bookings on Wrestlemania weekend, just because of the novelty.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


oatgan posted:

Tim Storm loving sucks and Magnus is like barely an improvement

In-ring he's a very slight improvement, but I'd argue that losing the novelty value of NWA Grandpa makes this overall a massive downgrade.

Like I could have seen something like Joey Janela vs. Tim Storm happening at Spring Break. Magnus would maybe be a warm body for the battle royal?

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Bigass Moth posted:

What does Bad Boy Joey mean by "found out what's going on"? That the NWA was only going to give the strap to their guys? Not exactly a surprise.

Based on what rovert says, I think he means the NWA was only going to let their guys even have shots at it. I highly doubt Joey Janela would have had a problem losing to the NWA Champion.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


The amount of money it would take to have any level of control over Cody's bookings while having zero actual shows would drive Corgan out of business before the end of 2019.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


This also applies to pretty much anybody who has actual name value on the indies.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


my god this is even stupider than i expected

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Well during the peak of the Corgan NWA, guys were really hoping to wrestle his champion. Then he made it clear that nobody except Corgan's guys are allowed to challenge for the belt, and that was that. I imagine he hasn't learned anything.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


you're kidding me

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


i cannot forgive billy for taking the belt off storm instead of doing storm/ellsworth

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


if billy puts the belt on a chinese wrestler in hopes of getting that market i will forgive him for taking the belt off tim storm

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


rovert posted:

The build was well done but did anyone watch the match last night?

https://www.youtube.com/watch?v=HHI83wqzdVw


https://www.youtube.com/watch?v=Ree7FIGxSK8

Was this at House of Hardore? If so, I heard from a friend who at least likes pretty much everything that the show last night was loving awful, in no small part due to Dreamer.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Luigi Thirty posted:

Dave Lagana went on Sean Waltmanís podcast and said a promoter offered Tim Storm $10,000 to double-cross Billy Corgan and drop the NWA title to them.

oh my god tim storm why did you say no

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


DJExile posted:

It's really not. It frankly hasn't mattered in over 30 years.

I think he meant by the standards of the NWA itself.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Jerusalem posted:

I gotta say, Cody winning the NWA Title in front of close to 12000 people in the biggest non-WWE show in North America in decades (or forever?) actually would do wonders for the image of the Championship.

I wonder how Billy Corgan is gonna gently caress it up?

He'll do literally anything other than let Cody do Cody things with the belt.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


ChrisBTY posted:

How did Cody get the Bucks to buy in on the NWA thing?

An indie and/or Billy probably went "I will give you this money to wrestle the NWA Champion" to which the Bucks went "We like money".

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


ChrisBTY posted:

Except they're giving Billy money.
A lot of money. 30% of the gate. Allegedly.
For one of the biggest indie shows in history.

Getting fooled by Cavauro is more shameful than anything Billy's ever done.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


MotU posted:

lol how does this keep happening

Cavauro is better at getting people to believe his stories than "Apologize to" rovert.

can we get some Cavauro World Order avatars up in here

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Mel Mudkiper posted:

Cavauro has mastered the absurd reality of wrestling stories to craft fakes just dumb enough to be plausible

He had me believing for a week that Undertaker was heavily invested in coal mining

I think the secret is that his stories are so dumb that it seems impossible someone just made it up on the fly.

rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


ChrisBTY posted:

Oh gods, my condolences to them then.
(At least you're not Browns fans)

Being a Cleveland Browns fan no longer hurts. It's only my fault if I care after these last two seasons. Now I watch in the same way a lot of goons watch Raw.

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rare Magic card l00k
Jan 3, 2011

Me uni a la Revolucion #RXT


el sabe ...


Also I got to go to a game with front row tickets behind their bench and shook the punter's hand a couple seasons ago for like 20 bucks so them being Just The Worst has had some benefit.

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