Just two months ago, Smashing Pumpkins frontman Billy Corgan became president of IMPACT Ventures, which owns the TNA wrestling promotion. However, Corgan has filed a lawsuit against TNA Impact’s owner, Dixie Carter, and several other parties involved with the company’s ownership.

Corgan is a longtime wrestling fan, even starting his own promotion — Resistance Pro — based out of Chicago. The Pumpkins musician later joined TNA as senior producer before taking his current gig as president. Billy has actually been looking to purchase majority ownership of the company after personally financing three rounds of TNA Impact tapings. In an interview with Busted Open, Billy revealed the funding was part of the negotiations. However, Corgan has refused to fund the Bound For Glory pay-per-view (TNA’s equivalent of Wrestlemania) out of his own pocket. [via PW Insider]

On Oct. 13, the complaint filed by Corgan was approved by a judge. A restraining order of some kind was also filed by Corgan, which was granted. Billy has also reportedly asked for the court records to be sealed. Despite various publications attempting to access information about the suit’s many details, nothing is able to be legally obtained by the public. TNA has not yet responded to media inquiries regarding the case.

Dixie Carter had nothing but great things to say when Corgan was given the position of TNA president. "Billy is a visionary, an iconic artist and savvy businessman with an incredibly gifted creative mind,” Carter said in a statement. “He has built a decades-long successful global brand, and also has a deep passion and understanding for professional wrestling.  In working with Billy over the last 16 months, he has impressed me to the point that I’ve been in discussions with him to take an elevated strategic leadership role within the company. The more we discussed our vision for the organization, the clearer it became that position needed to match his commitment."

Stay tuned as news continues to break.

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