In a one line sentence part of the press release that Anthem Sports & Entertainment issued today it was announced that Billy Corgan has left TNA.

TNA had until November 1 to pay off Billy Corgan’s three loans and Anthem had offered to pay him with interest. Corgan resisted the payments and wanted control of the company instead but Monday’s ruling in Nashville left Corgan with no option but to take the money and pack his bags.

TNA announced Corgan’s hiring in April 2015 and was appointed as Senior Producer, Creative and Talent Development. In August 2016 he was promoted to President, replacing Dixie Carter while she moved to the role of Chairman and Chief Strategy Officer.

Corgan was very well liked in the TNA locker room while Carter’s credibility took a hit over the past few months. It will be interesting to see how those in the back will react to today’s news.

The Smashing Pumpkins front man has not commented publicly about his departure from TNA. His lawsuit against TNA and upper management will still go ahead as planned.