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LATEST ON CHIKARA

By Mike Johnson on 2013-06-04 08:54:00
The following statement was issued to PWInsider.com this morning:

"Some people have been attempting to distract from what happened on Sunday's iPPV by circulating rumors about an affair, a bitter divorce, or a dispute over the ownership of CHIKARA. All of these rumors are absolutely false."

A previous statement issued to PWInsider.com from CHIKARA's promotional end late last night claimed the promotion was liquidating its merchandise and that it would be selling off whatever physical assets (production material, etc.) off.

The idea fronted by the release was that the promotion had been struggling since their Joshimania events did not do well and they had been running in the red since late 2011. The implication was that the "parent company" had pulled the plug - literally, given the end of the show Sunday - on the promotion.

The statement claimed that all agreements with "third party vendors", such as their DVD deal with Smart Mark Video, would be honored through the end of 2013.

The canceled 7/21 date in NYC is now being filled by Kaiju Big Battel. Several of the CHIKARA "Wrestling Is..." sister promotions have already announced other dates that were formerly announced for CHIKARA as well.

As we move further down the rabbit hole, it certainly appears to be a completely massive angle, although what the end game on an angle that shuts down your company and potentially dilutes the brand name by splitting it across seven sister promotions remains to be seen.

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