NWA President Billy Corgan denies the promotion is shutting down.

The NWA has been on hiatus for several months due to the ongoing COVID-19 pandemic. The promotion was forced to overhaul its managerial structure when former NWA Vice President Dave Lagana was accused of sexual assault during the #SpeakingOut movement.

Wrestling legend Raven dropped a bombshell this week when he said the NWA was unlikely to return. “Me and Billy get along really well but I think Billy’s shutting it down, from what I hear,” Raven said during an interview. “I heard it through the grapevine that Billy’s not opening it back up, he’s really disillusioned.”

The NWA has built a passionate following since it relaunched, so this was very upsetting to

Billy Corgan posted the following statement on Instagram addressing the NWA’s future. Corgan makes it clear: they are NOT shutting down and are not for sale.

Here’s the official word from Corgan:

“A quick note about the National Wrestling Alliance, which I fought for, and won ownership of a few years back. We are NOT shutting down. So please disregard any and all rumor to effect. The NWA is not and will not be for sale, and those talent who are under contract remain under contract for a reason: which is that are the NWA and are trying to figure out a way to provide our great fans with wrestling content in a very, very tough environment. And, most importantly, keep our talent safe and the standard of production you’ve come to expect from us at a high level. Anything less, in my opinion, is unacceptable. So yes, appreciate the interest, appreciate the chatter, but don’t appreciate the unsourced rumors and speculation.”