Billy Corgan is the proud new owner of a wrestling “organization”. As we reported earlier this month, Corgan and the National Wrestling Alliance were close to finalizing a deal for Corgan to purchase the organization. It’s being reported now that Corgan has completed the deal to obtain the NWA from R. Bruce Tharpe.
In the deal, Corgan will get ownership of the following NWA assets:
- NWA name
- NWA rights & trademarks
- Possession of the NWA Championship belt
The deal has also been configured for Corgan to take Tharpe’s position in the NWA’s VOD service, as well as the Paul Boesch wrestling library. The ownership of the library will remain with with Boesch family, but Corgan will now have the same rights that Tharpe previously held.
Tharpe’s five-year ownership of the organization will come to an end with Corgan’s purchase, and there is no real clear answer to what role, if any, Tharpe will have going forward. It’s expected that Corgan and his team will look into all aspects of the organization, but no major changes will be made immediately. The deal is being looked at as something with a long-term goal, so no one should expect any overnight overhauls.
It’s also being reported that the NWA and promoters who are licensing the name will continue on with doing things how they have been until any changes are handed down by the new owner.