As we previously reported here on eWn, the National Wrestling Alliance is on the verge of making talent cuts as well as production cutbacks due to financial issues.
The promotion has had very little cashflow of late and the goal is to cut the budget in half.
In a recent interview with Pwinsider, NWA President Billy Corgan addressed the rumors, reassuring fans that the company’s financial health is “fine.”
You can check out some highlights from the interview below:
On the financial health of NWA: “[The] Financial health is fine. I’m 100 percent owner, still. No investors. So I answer to no one on expenditures except myself. For those who have noticed, this has been an incredibly successful period in my musical life; including a massive summer tour in 2023 and two more tours on the books for 2024 with an arena and festival summer run in Europe flowing into stadium tour with Green Day. So if I needed additional funding (I don’t currently) I can get it easily, because I also own all my songs as well as my recorded work (what they call ‘masters’) since 2001; and which one could get loans on against future earnings, etc. if needed.”
On reports that there will be cutbacks: “This is where the stupidity of this kind of ‘reporting’ shows itself. Sarasota, Florida [tomorrow’s NWA event] is a live-to-tape event which will turn into future episodes of Powerrrr. So we try to balance who’s flying in from where, etc. to ensure the quality of the show is very high against the cost of running a live remote. [The live remote] is much more expensive than running, say at Skyway in Nashville in a TV studio. So by definition, this live ‘taping’ is more expensive than Powerrr in the studio. So we are actually spending more money, not less. 2023 has been the most expensive year yet of the Lightning One era and that’s a good thing because the wrestling and quality of our productions has never been higher, which feeds into landing TV deals.”
On rumored roster cuts: “None. The territorial system being reinstated is partly to make sure that if key roster talents are not in a particular tv taping cycle they keep working in our NWA ecosystem. We value everyone that works for us; and some are under contract and some are not, but that doesn’t mean I don’t want everyone working for us all the time. [If I didn’t want them], I would not have invested time (and money by extension) in storylines and promotion of a character they own.”
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The National Wrestling Alliance (NWA) has been facing financial issues recently, leading to rumors of talent cuts and production cutbacks. However, NWA President Billy Corgan has reassured fans that the company’s financial health is “fine.”
In an interview with Pwinsider, Corgan addressed the rumors and provided some insights into the financial situation of the NWA. He stated that he is the 100 percent owner of the company and has no investors, which means he answers to no one except himself when it comes to expenditures. Corgan also mentioned that he has had a successful period in his musical career, including a massive summer tour in 2023 and two more tours scheduled for 2024. If additional funding is needed, Corgan can easily obtain it because he owns all his songs and recorded work since 2001, which can be used as collateral for loans.
Regarding the reports of cutbacks, Corgan explained that the upcoming NWA event in Sarasota, Florida, is a live-to-tape event that will be turned into future episodes of Powerrrr. The cost of running a live remote event is higher than running a TV studio event, so in this case, the NWA is actually spending more money, not less. Corgan emphasized that 2023 has been the most expensive year yet for the Lightning One era of the NWA, which is a positive thing as it reflects the high quality of their productions and increases their chances of landing TV deals.
Corgan also addressed the rumors of roster cuts and stated that there are none. He mentioned that the reinstatement of the territorial system is partly to ensure that key roster talents keep working within the NWA ecosystem even if they are not part of a particular TV taping cycle. Corgan expressed his appreciation for everyone who works for the NWA, whether they are under contract or not, and emphasized that he wants everyone to be working for the company all the time.
In conclusion, despite the rumors of financial issues and cutbacks, NWA President Billy Corgan has assured fans that the company’s financial health is stable. He highlighted his ownership of the company and his ability to obtain additional funding if needed. Corgan also emphasized the NWA’s commitment to producing high-quality wrestling and debunked rumors of roster cuts. Fans can stay updated on all wrestling news on eWrestlingNews.com or follow their Twitter and Facebook pages.