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Bad news for you kids; TNA has >90 days to find a new backer
Topic Started: Dec 1 2004, 08:03 PM (331 Views)
JeffAlmighty
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Source: Wrestling Observer Newsletter and WTRNewsletter #24

"A reliable backstage source in TNA has apparently confirmed that Panda Energy is growing frustrated with TNA. According to reports, if TNA cannot get a financial backer in 90 days they will go out of business. So if there is no new buyer, Final Resolution could be the final TNA PPV.

Panda Energy, in the two plus years it has been funding TNA, has lost approximately $15 million on the venture. This came on the heels of the $1.6 million Health South lost in getting the company off the ground. There may also have been losses that Jerry Jarrett incurred during the interim period between Health South money and Panda Energy money. Because of the cost of buying television time, producing television, and signing higher priced talent, the losses in recent months have hit $200,000 to $250,000 per week. With the exception of WCW from 1999 on, no wrestling company in history is believed to have ever burned money at anywhere near close to this rate. Worse, they've done so without really making any mark on the industry or having any significant public visibility. There is simply no possible way the company could make money as things stand, but that has been clear for some time. The weekly PPV system was a big loser. Overseas revenue, television ad revenue and merchandising income, something counted on for profitability because of the WWE model, has been largely non-existent. All the talk of doing house shows is a pipe dream, because WWE is having difficulty drawing for house shows, and TNA simply can't make money running house shows. It would only cause more losses. The only revenue source is PPV."
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AWFLegendKiller
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would Vince try to buy it?
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TNASith
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TNAChris
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JeffAlmighty
Dec 2 2004, 01:03 AM
Source: Wrestling Observer Newsletter and WTRNewsletter #24

"A reliable backstage source in TNA has apparently confirmed that Panda Energy is growing frustrated with TNA. According to reports, if TNA cannot get a financial backer in 90 days they will go out of business. So if there is no new buyer, Final Resolution could be the final TNA PPV.

Panda Energy, in the two plus years it has been funding TNA, has lost approximately $15 million on the venture. This came on the heels of the $1.6 million Health South lost in getting the company off the ground. There may also have been losses that Jerry Jarrett incurred during the interim period between Health South money and Panda Energy money. Because of the cost of buying television time, producing television, and signing higher priced talent, the losses in recent months have hit $200,000 to $250,000 per week. With the exception of WCW from 1999 on, no wrestling company in history is believed to have ever burned money at anywhere near close to this rate. Worse, they've done so without really making any mark on the industry or having any significant public visibility. There is simply no possible way the company could make money as things stand, but that has been clear for some time. The weekly PPV system was a big loser. Overseas revenue, television ad revenue and merchandising income, something counted on for profitability because of the WWE model, has been largely non-existent. All the talk of doing house shows is a pipe dream, because WWE is having difficulty drawing for house shows, and TNA simply can't make money running house shows. It would only cause more losses. The only revenue source is PPV."

"Umm, Ted Turner , where are you bro?"
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TNARICK
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Were all good. TNA knows how to get the job done.
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TNASith
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TNAChris
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TNARICK
Dec 2 2004, 01:47 AM
Were all good. TNA knows how to get the job done.

Takes money to make money so I hope they have some we don't know about...Maybe we can interest Trump in doin it?!?!?
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The Raven Effect
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Personally, I'm not in the least bit suprised..
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JeffAlmighty
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TNARICK
Dec 1 2004, 08:47 PM
Were all good. TNA knows how to get the job done.

BWAAHAHAHAHAHAHAHA
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TNARICK
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I have faith in the old Jarretts to work things out. Heck they got 90 days.. thats enough time to party.
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king_k4life
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JeffAlmighty I hope you know that bob carter president of Panda said that they are sticking with TNA.
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TNARICK
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king K , thats cool. Did someone just go start a rumor?
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AWFLegendKiller
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tedd turner could do it
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Tomster
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John Kerry could do it.
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ST.Jimmy
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PPr:Kut
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lol, yeah TNA will pull through.
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TNARICK
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Already tagged as false info.. Mcmahon trying to pay off people to spread rumors. Sorry Mcmahon but we are airing the footage!!
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JeffAlmighty
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My bad, I trusted Dave Meltzer...what in heavens name was I thinking
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