Eric Bischoff Says The TNA Wrestling Sale Rumors Are "Sheer Chaos"

On the most recent edition of his Bischoff on Wrestling podcast, Eric Bischoff took the opportunity to comment on the ongoing rumors regarding the potential sale of TNA Wrestling - specifically, what comes to his mind whenever he hears them. Below is what he had to say:

"Chaos. Sheer chaos. I have been reading it like everyone else. I don’t have any inside information. I have to give my disclaimer here: I am currently involved in on-going litigation with TNA. I have to be a little bit judicious and careful about what I say. Anything that I am commenting on are things that are in the public domain, so to speak. The other day I read that somebody put a valuation on TNA of approximately $40 million. I have no idea where that number came from. Valuations when you’re selling a company or trying to get investors or an investor company. One of the hardest things to determine is valuation. Back when I was running WCW, when I was first given the responsibility to oversee WCW, it was a company that was grossing $24 million a year. Unfortunately, it was losing $10 million in the process. Earlier this week someone said, 'Well, the valuation of TNA is probably two times revenue.' Well, that valuation works if you’re profitable, but if you’re losing like WCW was, $10 or $14 million a year on $24 million a year in revenue, I guaran-freaking-tee you that company would not have been valued at $40 million."