TNA May Be Going Out Of Business Soon

Image Courtesy of Impact Wrestling Official Facebook Page

Reports coming in from TMZ are saying that Spike TV are not renewing their contract with TNA come October. It was a decision that was finalized over the weekend and means in October, the wrestling world is going to be rocked.

TNA is the second-largest wrestling promotion in the U.S., but is closer to third or further down the totem pole in the world after New Japan Pro-Wrestling and other Japan-based federations. Dixie Carter, one of the primary owners and operators of the company, has tried to do whatever she could to get more attention for TNA. However, the problem is that she’s been trying to do things that have been done before, and on a lesser scale.

If their TV contract is truly not being renewed, then TNA will no longer be on TV come October. It doesn’t necessarily mean that the company is going under, just that its television contract is gone and it will need to seek out a new one. This is obviously not an easy task, or Carter and co. would have already announced that they’re in talks with other cable networks.

When they were doing tours overseas, the were in talks with Spike TV and multiple other networks, trying to get their contracts extended and include more PPV opportunities. However, these talks obviously didn’t lead anywhere.

I’m not a fan of the TNA product, but I feel for the talent. A lot of them can really produce in the ring, and a few of them are good on the mic as well. They all deserve to live out their dreams in professional wrestling. Many of the wrestlers actually work for other organizations off and on in order make up the money lost during TNA’s recent hard times, so they’ll get chances elsewhere — though it’ll be at a much lower monetary rate.

I hate to see any of the WWE’s competition go away, as it means that Vince McMahon and co. will have an even firmer grip on the industry and won’t feel the need to make any big risks. That’s honestly not to say that TNA ever posed any type of legitimate threat to the WWE, as they were an incredibly distant second in the U.S. market.

With GFW on the horizon, backed by millions from a what looks to be good ownership group, WWE fans will hopefully see a new second-place company that will finally contend with the WWE for the top spot, much like WCW did at one point. TNA is likely going out of business, but it’s just a threat for the moment. I hope the company either finds a way to stay on TV, or the wrestlers find a new and more prosperous home.

Shaun Lowe is a writer for www.RantSports.com. Follow him on Twitter, “Like” him on Facebook, and add him to your network on Google.