Billy Corgan Threatens Another Lawsuit Against TNA Wrestling After Officially Getting the Boot

Billy Corgan Threatens Another Lawsuit Against TNA Wrestling After Officially Getting the Boot
Early this week, Smashing Pumpkins leader Billy Corgan lost his lawsuit against TNA Wrestling. Now, just a few short months after being named president of parent company Impact Ventures, he's officially been given the boot.

Today (November 3) Anthem Sports & Entertainment and Impact Ventures issued a statement saying Corgan is no longer with the company, offering no further info other than that. However, as TMZ points out, Corgan now appears ready to take further legal action against TNA.

Corgan took to Twitter today to voice his plans: As previously reported, Corgan was seeking to gain legal ownership of TNA but lost his case in court on Monday (October 31). Apparently, he had given TNA three loans in recent months, with the most recent loan coming with the stipulation that if the company went insolvent, Corgan would gain control of the company.

However, the court did not rule in Corgan's favour, saying instead that TNA must instead pay back the loan.

According to TMZ, Corgan lent the wresting company a massive $1.8 million.