Backstage News On Scott D’Amore’s Big Money Offer To Buy TNA Wrestling

(Photo Credit: TNA Wrestling)

Fans and wrestlers are still coming to terms with the fact that Scott D’Amore has stepped down as TNA President and Anthony Cicione has taken his place, leaving talent upset with management to the point where they sent a letter to Anthem, the promotion’s parent company, urging the company to bring him back.

It all began when D’Amore had a disagreement with management prior to his release, and because Len Asper, the head of Anthem, had the final say, it was D’Amore who was released.

D’Amore’s termination was planned a month before it was announced.

D’Amore approached Anthem with an offer to buy TNA outright with the backing of a major banking institution prior to Hard To Kill, TNA’s most successful pay-per-view event in several years, but was turned down.

In the most recent edition of the Wrestling Observer Newsletter, Dave Meltzer reported that two sources close to the talks and one who was involved said the offer was $10 million for the company.

Meltzer wrote, “One noted for clarity that it was $10 million plus assuming all existing debts the company had as well as the trade debts so that Anthem itself would walk away with $10 million in the bank out of the deal. The D’Amore group believed the company value was between $7 million and $12 million. Anthem turned down the offer cold without a counteroffer made.”