According to the Observer, TNA currently owes around $3.4 million in unpaid debts and that's not counting money owed to employees, Corgan, or anyone else not listed below.
Also they have already started to sell their tape library to pay off debts which might be another reason why WWE is no longer interested since they no longer can get it all at once.
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Originally Posted by Observer
The total debt owed by TNA to Aroluxe, Anthem and MCC Acquisitions is listed at $3.4 million. TNA has already sold some of its tape library to Anthem.
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Also the state of Tennessee is already threatening to seize TNA property if they continue to fail paying taxes they owe.
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Originally Posted by Observer
The latest is a story by David Bixenspan who found out that the Davidson County Register of Deeds and the State of Tennessee had issued a tax lien against TNA Entertainment, LLC on 9/8. The company owes back taxes in an amount unspecified and got so far behind in paying it that the state has the right to seize company property if the debt isn't repaid. While the company is no longer TNA Entertainment, LLC, now called Impact Ventures LLC, Tennessee law allows the government to go after successor companies.
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According to a report from PWI, TNA's wrestlers are rumored to be considering filing a breach of contract against management if they keep being late with payments.
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Originally Posted by PWI
In regard to rumors we have been asked about regarding wrestlers saying they are going to file breach of contract if their pay is late, it's possible that could happen as it was talked about by some at TV last week, but whether anyone actually does remains to be seen. TNA usually pays talents two weeks after they appear on television.
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Based on speculation going around the net, Billy Corgan has spent between $2 million to $3 million funding previous TNA tapings prior to this month and his push to become TNA's new owner.