News has come across late tonight that TNA Impact Wrestling on Spike has been cancelled. Reported by TMZ and the Wrestling Observer, the move seems to stem from the two sides not being able to come to terms on a new deal.
Dave Meltzer of the Wrestling Observer makes a telling statement in his article:
The decision came days after Spike found out that Vince Russo was still working for TNA.
Vince Russo, one of the company’s many bookers over the years, recently rejoined the company against Spike’s wishes. TNA looked to keep this fact quiet as they worked out a new television deal, only for word to leak out because Russo sent out an email to a wrongful recipient. That recipient was a wrestling reporter, Mike Johnson of PWInsider, making that just about the worst person he could’ve wrongfully sent an email to.
What does this mean for TNA? Let’s just say, hypothetically, their deal with Spike was worth around $7,000,000. TNA was already struggling financially even with making that money. Without that deal? The TNA you know now is gone. The company’s only real hope for continuing is to make another TV deal that’s as lucrative as Spike’s was, or at least close. With how WWE struggled in their negotiations and Spike cancelling Impact, the probability of another deal is not good.
Tonight’s news may just be the beginning of the end for TNA. But let’s face it, TNA is a company that’s been slowly dying for years and for those paying attention, this almost feels like a mercy killing. Despite all of its flaws, TNA was as close as we had come to a WWE competitor since WCW. Now, did TNA ever really feel like WWE competition? Not really, but they tried sometimes. I guess that’s all I’ve really asked for. I won’t be in mourning over this loss, as I never considered myself to be a fan of their product, but I certainly sympathize for those who will and for those who will be out of jobs as a result.