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Dixie Carter.

Here's exactly how much debt TNA are in - very worrying

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Competing with the WWE is virtually impossible and many promotions have discovered that the hard way since Vince McMahon rose to power in the late 1980s.

WCW were the first and, arguably, the last major company to fall back in 2001.

TNA has been the WWE's closest competitor for the past decade and in truth, they still haven't been even remotely close to challenging them.

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In the past few years, TNA have lost a plethora of top stars like Kurt Angle, Samoa Joe and AJ Styles because of their financial problems and it seems like those issues are finally getting on top of them.

After only managing to finance Bound for Glory - their version of WrestleMania - by the skin of their teeth, Dave Meltzer has now brought their money woes to light.

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Three of the companies that TNA owes money to are Aroluxe, Anthem (one of the parent companies of The Fight Network) - who also own some of the rights to their video library that the WWE were interested in - and MCC Acquisitions, which appeared to have funded their last set of television tapings and Bound For Glory 2016.

Meltzer noted on F4WOnline that the total debt owed by TNA to those three companies is listed at $3.4 million.

That does not include money that they owe to Billy Corgan - one of their prospective buyers - or to Audience of One Productions, LLC, which filed a lawsuit against TNA last month.

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The company is just existing now, nothing more, nothing less. There was a time where they could have perhaps established themselves as a legitimate force in the wrestling industry, but their problems behind the scenes have ultimately proved to be their undoing.

The sooner they sell up, the better it will be for everyone.

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Topics:
Jeff Hardy
WWE
Triple H
Kurt Angle
Matt Hardy
Triple H
Vince McMahon

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