According to a report from AlternativeNation.net, Brett Buchanan has spoken to a "second hand source" who confirms Corgan's intent to purchase TNA Wrestling, even going so far as to say the buyout could be a "done deal." Here's the quote from the report:

"I have heard from a second hand source who is close to a key figure in the rumored TNA Wrestling sales discussions who has verified that Smashing Pumpkins frontman Billy Corgan is far along in his talks to purchase the company. This source went as far to say that he believes it is a "done deal" that Corgan will buy TNA, though the source didn't know what percentage Corgan will be purchasing or the specifics of the deal. The source also says that Corgan has recently made a connection to somebody very wealthy, though it is not known if this party would have anything to do with the deal."

Read more at http://www.411mania.com/wrestling/news/302708/UPDATED:--More-on-Billy-Corgan//s-Desire-to-Buy-TNA.htm#Bwtgf0oEmsX7Xb5k.99