posted on Jun, 2 2005 @ 12:30 PM
From the Office of Dave Nelson.
THE NELSON CORPORATION AND PARTNERS PULL TNA OFFER
As of Noon on May 31, 2005, the offer to purchase TNA Wrestling from Panda has been withdrawn. The 10 Million dollar offer has been retracted as the
deadline has passed and no response was given. We feel that more then adequate time was given for Panda Energy to respond and at this time will move
forward with the start of a new Wrestling Company to kick off in early Fall of this year.
We recognize the fact that TNA has lost the deal with WGN and currently has no Television Deal to carry the company except for the Pay Per Views they
do monthly which do not clear enough revenue to keep the company afloat.
We are aware that there could be a possible deal with Spike down the road, but with the current deal that was in the works with Spike it would not
benefit the company in a long term Network deal, and it would prove fatal to TNA to make a deal that is contingent on ratings.
We do wish TNA the very best and hope that there will be a light at the end of the tunnel, but it would appear that TNA has a rough road ahead.
Now on the NWA Ohio side, we will move forward in the next few months with the announcement of the next big company, and will at that time disclose
the names of the two wrestling figures backing Dave Nelson and his venture to build yet another Federation here in North America, and open a new
avenue for professional wrestling today. Together with Old School and new age wrestling, we will design a product that offers the best of both worlds,
tradition and Extreme wrestling, offering good story lines, and well maintained Events that come to small towns and big cities alike, to bring the
fans a show that gets up close and personal like no other company has yet to offer.
A new beginning, and a Fresh product for the people who matter most, YOU THE FANS.....
Thank you, Dave Nelson, CEO
Source: Wrestling Exposed