Over the past several months, their purchase of legendary lucha libre promotion AAA just last month. However, there's one longtime franchise that is most certainly NOT for sale, according to its owner. Billy Corgan, the lead singer of the Smashing Pumpkins and the promoter of the National Wrestling Alliance (NWA), said recently that he didn't want to entertain any offers. However, based on the performance of the company in recent years, this could not be good news for its fans.

The NWA is the oldest promotion in the United States, dating back to 1948, and it was (at one time) the biggest governing body in all of professional wrestling. In a sense, they were the juggernaut that WWE eventually conquered when many of the NWA's s either sold to Vince McMahon or simply went out of business. Over the years, the NWA went through several smaller incarnations until Corgan purchased it in 2017 and attempted to return the promotion to its past glory. However, they didn't produce the results that fans were expecting, which is why there was much speculation that they might be up for sale, as well. But Corgan insists that his company wants to remain independent, and not a part of some larger conglomerate.

Billy Corgan Sends a Powerful Message About the NWA and WWE Acquisition Rumors

The Rock Star Says That His Company Is Not For Sale

Billy Corgan delivered a strong message via Instagram on Friday, reassuring fans that he is the sole owner of the NWA and things are going to stay that way. This was likely a move on the rock star's part to squash the rumors that TKO was looking to buy the National Wrestling Alliance, which were probably sparked by Nattie Neidhart's participation in the NWA's PPV.

Many fans responded with enthusiasm and appreciation to this message. In wrestling , Corgan delivered an amazing promo, full of heart, intensity, and determination. His ion for the business and this company is palpable and undeniable, and his words sound like a reassurance that he's not going to leave the boat. However, in the eyes of other fans, this is a mistake. The National Wrestling Alliance name does bear value, but unfortunately, the product in the ring has been lagging for several years. The TV production quality - once considered quaint and old school - looks cheap in comparison to WWE, AEW, or TNA, which also recently signed a cooperation agreement with WWE.

At the same time, Corgan has put his own money, time, and effort into pursuing a business that he loves. In many ways, he helped revive the NWA, as it was mostly dead and just had a handful of promotions that were loosely d, clinging to its banner. So, it's understandable why the owner wouldn't be easily willing to part with his pet project. NWA was one of the hottest products in pro wrestling in 2019, but right now it's struggling to remain relevant. So, what happened in these six years?

The NWA Is Not Looking Great Now - What Happened to the Most Promising Wrestling Promotion?

The Promotion Was the Talk of the Wrestling World Six Years Ago

While Corgan's NWA was red-hot from 2017 up to the pandemic, they lost a lot of their established stars along the way. Former World Champion Nick Aldis - once considered the standard-bearer of the promotion - moved on to become the GM on SmackDown, where he has performed irably. Eli Drake (now LA Knight), Kamille, James Storm, and several other established names departed, and one of the company's early stars, veteran and former NWA Worlds Heavyweight Champion Tim Storm, retired and now serves as a color commentator.

On top of that, the company has been hit with some controversy, particularly a segment that occurred during their 2023 event, Samhain 2, in which performers were portrayed as if they were doing illicit drugs. So, the organization has had a bit of a spiral for the past few years. Add to it that they were never able to land a solid TV deal to increase visibility, and that's why it seems that NWA was never able to break the glass ceiling. In its infancy, it was an innovative product that focused on creativity to overcome budget and production limitations, but that never evolved into something more.

Why an Acquisition by WWE Could Save Billy Corgan's NWA

Being Under the WWE Umbrella Could Reap Huge Benefits

However, that's not to say there isn't value in the NWA and its name. Historically speaking, if WWE were to purchase the promotion, they would essentially hold the entire history of pro wrestling in their library and could market it in any way they see as profitable. At the same time, it would be a way for the product to improve both visually and talent-wise.

Many NWA fans are criticizing Corgan's questionable booking decisions (including a long, controversial championship reign by Tyrus), which is why a WWE acquisition could save the brand and inject some much-needed visibility into the NWA again. Given Triple H's penchant for nostalgia, you could see him getting pretty creative with events like the legendary Crockett Cup tag team tournament and the yearly anniversary shows that commemorate the NWA's legacy.

It would also help Corgan fulfill his vision of restoring the revered organization to a lofty status again. He could even work out a deal where he could stay on board and manage the NWA, but with an influx of cash and characters that he never had access to before. Overall, a WWE purchase of his promotion would be a 'win-win' all the way around. But unless Corgan is willing to release his grip on the company, it will never happen. And sadly, the NWA will continue to languish because of it.