NWA President Bruce Tharpe just confirmed the rumors that former TNA President Billy Corgan officially purchased the legendary promotion and will become its new President. On a Facebook post he shows his confidence in Corgan bringing the company to a new level.
The deal is settled on the purchase of the NWA name, rights, trademarks as well as rights and possession of the legendary NWA title belt. As the new President Corgan will also run the various NWA member promotions and the NWA On Demand Service.
In his post, Tharpe also talks about the team Corgan is currently forming. Many of the creatives that left TNA when Anthem took control and Corgan left, like Dave Lagana and Matt Conway, are expected to follow him in NWA.
The National Wrestling Alliance was created in 1948 and at that time was reuniting promotions from all over the USA and Canada. The group would share one World champion, help and protect each other’s interests and talents.
The NWA Champion was considered as the most important in the business for many decades. Legends like Lou Thesz, Killer Kowalski, Dusty Rhodes, Harley Race and Sting made the history of the title. The recordman and most renowned was of course Ric Flair, nine-time NWA Champion.
By the end of the 1980s, Vince McMahon started to buy all local promotions and destroy the NWA territory system. The last bastion of NWA, Jim Crockett Promotions, was in the end bought by WCW. Ted Turner company was allowed to use the name, but didn’t purchase the belt at that time.
After years of limbo during the 1990s, TNA brought the NWA Championship back on track. The title would eventually become the most coveted prize for the company in early 2000s. Money and legal issues forced NWA to take its titles back and TNA to create its own.
In May 2007, a group of independent wrestling promotions recreated the NWA spirit, with a shared champion. Ring of Honor wrestlers Adam Pearce and Colt Cabana helped bring attention back to the titles.
Bruce Tharpe took control of NWA in 2012 after a complex series of legal issues. He developped a license for fee system, with promotions paying for the right to use the NWA letters. Currently 20 promotions all over the country are under the NWA wing, with 6 title defended regularly during local live events.
Billy Corgan tried multiple times to become his own promoter in the business. He tried to invest in the late ECW in late 1990s. He would later get involved in Chicago’s Revolution Pro and most recently in TNA. In 2016, he became the President of the company, but unsuccessfully tried to buy it to Dixie Carter.