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The bad news just keeps on rolling in for TNA Wrestling.
In case you were not aware, a high number of wrestlers have either been released, or have asked to be released. Over the past year, TNA have greatly cut down the number of shows they put on, filming up to 4 episodes of Impact in one night. They have also cancelled a number of smaller events at short notice as well as a high-money tour of China. And their partnership with Wrestle-1 in Japan is dead. This already meant that a lot of TNA wrestlers were not making that much money; but many of them have been paid really late multiple times this year.
The decision now is to run TNA as a different company. It will no longer be a wrestling company, but a company that produces wrestling-based television shows. Which means that TNA will now be hiring outside wrestlers for their individual shows instead of signing people to contracts.
Knux was released quietly a month ago. Both Gunner and Samuel Shaw were let go 2 weeks ago, despite both of them having signed a 3-year deal only 18 months earlier. Both James Storm and Magnus have asked for their releases and will be finishing with the company at Slammiversary. Austin Aries has already chosen not to renew his contract which expires after Slammiversary. Both Tiffany Tyrrell and Awesome Kong have both been told that they will not be re-signed either. They will all continue to appear on TNA television for some time to come due to them working pre-taped shows.
TNA has no choice but to grant releases to whoever wants them. Talents know that they will not be making the money promised in their contracts due to the limited number of shows they work. Also, their contracts make it harder for them to book non-TNA appearances or get a tryout for WWE or Ring Of Honor.
Rumours of former co-founder Jeff Jarrett buying out TNA are completely false. However, he has brokered a new deal with TNA which will see him use TNA talent in his shows. Expect many of them to eventually defect to Global Force Wrestling, as Magnus has already done.
In case you were not aware, a high number of wrestlers have either been released, or have asked to be released. Over the past year, TNA have greatly cut down the number of shows they put on, filming up to 4 episodes of Impact in one night. They have also cancelled a number of smaller events at short notice as well as a high-money tour of China. And their partnership with Wrestle-1 in Japan is dead. This already meant that a lot of TNA wrestlers were not making that much money; but many of them have been paid really late multiple times this year.
The decision now is to run TNA as a different company. It will no longer be a wrestling company, but a company that produces wrestling-based television shows. Which means that TNA will now be hiring outside wrestlers for their individual shows instead of signing people to contracts.
Knux was released quietly a month ago. Both Gunner and Samuel Shaw were let go 2 weeks ago, despite both of them having signed a 3-year deal only 18 months earlier. Both James Storm and Magnus have asked for their releases and will be finishing with the company at Slammiversary. Austin Aries has already chosen not to renew his contract which expires after Slammiversary. Both Tiffany Tyrrell and Awesome Kong have both been told that they will not be re-signed either. They will all continue to appear on TNA television for some time to come due to them working pre-taped shows.
TNA has no choice but to grant releases to whoever wants them. Talents know that they will not be making the money promised in their contracts due to the limited number of shows they work. Also, their contracts make it harder for them to book non-TNA appearances or get a tryout for WWE or Ring Of Honor.
Rumours of former co-founder Jeff Jarrett buying out TNA are completely false. However, he has brokered a new deal with TNA which will see him use TNA talent in his shows. Expect many of them to eventually defect to Global Force Wrestling, as Magnus has already done.
