NWA President Bruce Tharpe has released a statement on his Facebook page regarding Billy Corgan’s purchase of the promotion. You can read the full statement here.

“As everyone knows by now – Billy Corgan and I have agreed on principle regarding his acquisition of the NWA brand. This decision comes after many weeks of negotiation and deep consideration.”

The NWA has earned revenue in recent years through their on-demand streaming service NWA Ringside. The service offers on-demand viewing of many classic NWA matches.

There are still several small promoters who belong to the Alliance, although none that were part of the group during their glory days. Tharpe had previously developed a relationship with New Japan Pro Wrestling, which saw the NWA title defended in Japan in 2013.

If Billy Corgan is buying in, he’ll have some type of plan. Corgan hasn’t posted to social media in over a month.

“With the capital and business acumen that Billy Corgan brings to the table – I am confident that he has the ability to take the NWA to the next level. And I have promised to do all I can to help him succeed. I ask you to join me in supporting the new NWA regime in the future,” Tharpe said.