Dude, no. Just no.
He is a comedy character. Comedy should not take up the whole show. Until he is serious, it is a no straight away. Number one guy should always be serious, unless you want your company to look like a bunch of complete dorks.
Besides, the biggest reason is that Angle is clearly wrecked physically. He is in constant pain backstage, and is a physical wreck. So why in the hell would you centre the show around a guy who could be gone at any time, who could break his neck at any time. That is just setting the company up for a fall, because suddenly with Angle gone, ratings would plummet, and TNA would die.
Him being a great wrestler is complete irrelevant. This isn't about one man being a good wrestler, this is about making a company succeed. And if you were in charge, I assure you TNA would die.