Originally published on ProWrestlingSheet.

NWA President Billy Corgan is denying a recent rumor claiming the promotion is shutting down.

Corgan shared the following statement on Thursday via social media:

A quick note about the National Wrestling Alliance, which I fought for, and won ownership of a few years back. We are NOT shutting down. So please disregard any and all rumor to effect. The @NWA is not and will not be for sale, and those talent who are under contract remain under contract for a reason: which is that we at the NWA are trying to figure out a way to provide our great fans with wrestling content in a very, very tough environment. And, most importantly, keep our talent safe and the standard of production you've come to expect from us at a high level. Anything less, in my opinion, is unacceptable. So yes, appreciate the interest, appreciate the chatter, but don't appreciate the unsourced rumors and speculation.

The rumor gained steam after Raven said during an interview that he had heard the company would not return after recently going into hiatus following the departure of Dave Lagana.