More on TNA’s Financial Problems

It has surfaced that Audience Of One Productions also sued TNA at the end of September along with Chief Financial Officer Dean Broadhead and Aroluxe Marketing for unpaid production services which total $222,123.43. The lawsuit also seeks secured interest, pre and post-judgment interest, attorney fees, and all costs related to the lawsuit. The lawsuit states that in Spring of 2015, AO1 entered into discussions about a possible long-term, multi-event, production services agreement, pursuant to which AOl would provide a variety of production services for live TNA events, including audio/visual and broadcasting work, lighting, set construction and breakdown. The production services where originally handled by Aroluxe, headed up by former TNA and WWE tag team Ron and Don Harris, and the lawsuit says that TNA, specifically Dean Broadhead, was not happy with the services that Aroluxe was providing. Broadhead told AO1 that they would answer to him and not Aroluxe and on June 15, 2015, TNA and AO1 entered into a contract for at least two TNA events at Universal Studios in Orlando. Following a successful partnership for these two events, TNA contracted AO1 to provide production services for the Bound for Glory pay-per-view. “TNA was apparently in dire financial straits at the time of these negotiations, with reports in the media suggesting that, among other financial woes, TNA was behind on paying some of its key “talent,” i.e., wrestling personnel,” the lawsuit stated. AO1 sent TNA a final invoice of $288,930.04, however Dean Broadhead told the company that TNA was trying to close a new TV deal and would be paying after the deal is done. “We are planning to go back into Universal Studios in 2016 and get back on the right track with our production. Please, please hang in there with us. We will come out of these difficult times in a much better position as a company and a partner,” Broadhead told AO1. The payment was never done and AO1 invoiced TNA $293,263.99, which included a 1.5% late payment fee. After receiving the new invoice, Broadhead came up with a payment plan where TNA would pay the company $35,875 per month. After initial payments were made, AO1 stopped receiving the money they were owed, which led to this lawsuit. The lawsuit was filed in the District Court for the Eastern District of Virginia.

Colin Vassallo has been editor of Wrestling-Online since 1996