WrestleChat.net have reported in a major break that Billy Corgan, the front man for Smashing Pumpkins, is the leading candidate to buy or invest within TNA.

Brett Clendaniel, who runs WrestleChat, has spoken with two different sources about the current situation and told him that "talks with Corgan have reached a“significant stage” and the deal is “his for the taking” if he wants it." 

Corgan, a massive wrestling fan himself, is noted for his running of Resistance Pro which is a Chicago based wrestling company. It's also well documented that Corgan knows alot of people within the industry.

The two sources were later asked if Corgan would be a good leader for TNA that he would give the company "an initial jolt" but didn't know about the long term due to Corgan having to  tour and record. 

This follows Janice Carter earlier today saying that "TNA is definitely not for sale" that was sent as an internal memo to TNA employees.