Jarrett possible no longer minority owner of TNA

Mr. Kennedy · 08-13-2009, 01:37 AM

I didn't post this in News & Rumors because it's not from one of the accepted reliable sites. Marcus Cygy (who used to be a writer for TNA, he would usually write the PPV reports for their site) is reporting on his official website that Jeff Jarrett has sold his 28% share of TNA to Bob Carter. This means Jarrett is now just another wrestler in TNA and has no power in the company and the Carter family owns all 100% of the company. Here is the full article for those interested:

Quote:

Wednesday, August 12, 2009

Bob Carter Purchases Jeff Jarrett’s TNA Ownership Share

By Marcus Cygy

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Reports have been surfacing over the course of the last few days that TNA co-founder Jeff Jarrett has sold his share ownership of TNA Wrestling. Through multiple sources, I am now been able to independently confirm this breaking turn of events.

The details are that Jeff Jarrett sold his remaining 28% of TNA ownership at the beginning of this month to Bob Carter, who had owned 72% of the company since October 31, 2002 when his Texas-based Panda Energy company purchased a controlling interest after TNA lost the Alabama-Based HealthSouth Corporation as a financial backer.

The other co-founder of TNA Wrestling, Jerry Jarrett, had already sold his company share in November 2005 when frustrations arose against the Carter family. TNA President Dixie Carter had begun to slowly phase Jerry Jarrett out of the management fold, thus he left on his own terms. At the time, the Carter family was actively pursuing to buy him out, but Jeff Jarrett opted to buy his father out instead.

Fast forward four years later, TNA President Dixie Carter sent TNA Vice President and minority share owner Jeff Jarrett home on an indefinite leave of absence following backstage turmoil with current TNA World Heavyweight Champion, Kurt Angle. The turmoil stems from Jarrett dating Karen Angle, the divorced wife of Kurt Angle. As a result, the current champion allegedly threatened to leave the company if Jarrett remained in power.

So after sending the former six-time NWA World Heavyweight Champion home idefinitely, Dixie Carter went a step further. On July 31, 2009, Jeff Jarrett’s henchmen Dutch Mantel and Savio Vega were released from their contracts. Mantel had been with TNA since 2003, so this really sent alarms ringing that a major power shift was about to begin and so it did.

Sometime at the beginning of August 2009, Jeff Jarrett officially sold himself out of TNA Wrestling, the company he founded in May 2002. With that, Jeff Jarrett becomes no different than the likes of every other wrestling superstar within the TNA organization. When or if he returns to the locker room, he will be powerless while abiding to the power of TNA President Dixie Carter under the sole ownership of the now TNA Chairman Bob Carter.

PY · 08-13-2009, 02:14 AM

Not sure if this is going to make TNA any better or any worse. Guess it's a wait and see thing.

Bigpapa42 · 08-13-2009, 02:15 AM

I know it can get worse... but only so much. I see mostly upside.

MrEnigma · 08-13-2009, 07:49 AM

Well, this could be a good thing or not and yes time will tell. The one thing in a good way is this...I can honestly agree that in the past three weeks, that maybe the pressure on Russo has been good enough to produce better shows and that is a good thing. The other good thing is that if that keeps up, it make the shows products better overall which means ratings will also stay up for the long term.

On the bad side of things, it could mean the ultimate end to TNA if the Carter's are not as devoted to TNA through thick and thin as Jarrett was or appeared to be through the years. Another thing is that because they are not traditional "wrestlers" or of which with that family background, what is the sympathy and empathy factor with the current/future talent or acquisitions for that matter. Finally, you have to consider what the Carter's see as great show or not and how that relates or agrees with the fans that actually bring in those ratings. In other words, will the Carter's opinion on the end product run along the same lines as the fans and the consistency factor as well.

Like Vince (WWE), I just hope that there does grow within TNA this disconnect with the fans of what should be versus what actually is in their company, on the shows/PPV's, and long term.