The Story of Flair's Belt gets Uglier.

[Mayonnaise]

LATEST ON SALE OF RIC FLAIR'S NWA CHAMPIONSHIP BELT: THIRD PARTY CLAIMS OWNERSHIP OF THE BELT DUE TO DEBT FLAIR OWES THEM
by Mike Johnson @ 2:04 PM on 10/19/2009

The latest development involving the original NWA World Heavyweight championship belt Highspots.com has been auctioning off in order to settle a debt Ric Flair has with the company is that Highspots may not be able to sell the belt in the first place.

As it turns out, Flair doesn't technically own the championship. According to a document acquired by PWInsider.com, the belt had been previously used as collateral as part of a financial issue between Flair and Matthews, North Carolina corporation Conbraco Industries, Inc. that pre-dated Flair's issues with Highspots.

On 8/26/08, Flair and Conbraco jointly filed a secured loan via a Universal Commercial Code (UCC) document. That filing created a lien against Flair's property, preventing him from selling it off without settling whatever debt he has to Conbraco.

While the financial background of what led to Flair's dealings with Conbraco isn't immediately clear, that documentation listed the following items as collateral that the corporation could conceivably seize from Flair's possession:

*Flair's NWA championship belt (specifically listed as original)
*Flair's WCW championship belt (specifically listed as replica)
*Flair's "wrestling robes, trunks, and boots"
*Flair's "Wrestling Hall of Fame ring"
*Flair's "Presidential Rolex, inscribed with "To Be The Man."
*Flair's "framed magazine covers, which include his likeness."
*A 4x3 autographed poster of Michael Jordan
*a 4x3 autographed poster of Vince McMahon and Flair.
*a framed, personalized Kevin Green jersey.
*Commercial claims arising from a previous lawsuit Flair was involved with.
*Additional "proceeds and products."

Conbraco recently approached Highspots to inform them that while they have yet to claim possession of any Flair assets, they would legally pursue any money raised from the sale of the belt, as they have a legal claim to the belt and its worth. Highspots has quietly removed the listing of the title belt's auction from their website.
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The Rolex is the one the Shawn gave Flair at Mania XXIV.

[sabu]

wow... this is really sad.

[DavidArquette]

That's awful, but I guess Flair has no one to blame but himself.

[AriadosMan]

Geez, is Flair gonna have to sell the shirt off his back next?

[vampyur]

lol @ the random Michael Jordan poster

[BitterAF]

The dude seriously has to have some money.

[Mayonnaise]

Oct 19, 2009 13:43:49 GMT -5 BitterAF said:

The dude seriously has to have some money.

3 ex-wives (working on 4), 2 IRS failures, Reid's heroin issues and the Nature Boy lifestyle. Nope, cannot see him having any.

[Naniwa]

["Gentleman" AJ Powell]

Thats mean taking his hall of fame ring & Watch he got with HBK

[Tea & Crumpets]

I actually feel sorry for Ric. It just seems he keeps losing everything. Finally drops the Nature Boy lifestyle, and his wife leaves him....then his next wife. Then his son gets into drug issues. Now he basically has to sell everything he has.

[salsashark]

Oct 19, 2009 14:58:55 GMT -5 Tea & Crumpets said:

I actually feel sorry for Ric. It just seems he keeps losing everything. Finally drops the Nature Boy lifestyle, and his wife leaves him....then his next wife. Then his son gets into drug issues. Now he basically has to sell everything he has.

Sometimes, you reap what you sow. It's sad but reality.

[derrtaysouth95]

He did this to himself.

If he had quit being "Flair" sooner, he wouldn't be that far in the whole.

[AriadosMan]

Some men SHOULD NOT MARRY. EVER.


Flair, sadly, is a pretty good case study for this argument.

[Mac]

Guess he's a bus ridin', shoe shinin',alimony payin', lay-a-wayin' , broke son of a bum

[The Dark Order Inferno]

I don't feel sorry for him, He left the 'E of his own accord as he thought he could make more money exploiting his image on his own and keep on living his lifestyle like a man half his age, but it hasn't worked out. I don't think his troubles with Reid, his divorces and so on can possibly excuse the fact that he's seemingly ripped off everyone silly enough to advance him money, Highspots, ROH, these guys and probably more so he deserves whatever befalls him.

He should go to the 'E, go to rehab and do whatever they ask of him and get himself sorted before his image is worth as much as Jake Roberts' and even they won't touch him.

[ICBM]

If I had it to give I'd lend him the bread to get outta hoch to theses leaches (I am sure they are just buisiness people I am only calling them leaches out of frustration, it is still Ric's fault)

[dabossftw]

Oct 19, 2009 15:31:20 GMT -5 Mac said:

Guess he's a bus ridin', shoe shinin',alimony payin', lay-a-wayin' , broke son of a bum

WOOOOOOOOOOOOOOOOOOO I LIVE IN A CARDBOARD BOX! WOOOOOOOOOOO

[lildude8218]

Oct 19, 2009 13:46:53 GMT -5 Mayonnaise said:

Oct 19, 2009 13:43:49 GMT -5 BitterAF said:

The dude seriously has to have some money.

3 ex-wives (working on 4), 2 IRS failures, Reid's heroin issues and the Nature Boy lifestyle. Nope, cannot see him having any.

It's sad how ontop of all the wives that he still owes Mike Rotunda money

[markdown474]

Oct 19, 2009 16:03:23 GMT -5 lildude8218 said:

Oct 19, 2009 13:46:53 GMT -5 Mayonnaise said:

3 ex-wives (working on 4), 2 IRS failures, Reid's heroin issues and the Nature Boy lifestyle. Nope, cannot see him having any.

It's sad how ontop of all the wives that he still owes Mike Rotunda money

Are you sure about this??? I thought it was Rotundo. I guess it varies on what day of the week it is in the NWA circa 1980's.

Anyway, unless his current fiancee is wealthy, I think Flair might want to seriously reconsider his engagement. I remember an interview after he was kayfabe out with a neck injury due to Funk piledriving him on a table, Flair made a comment along the lines of: "whether or not I retire isn't about money. This business has been good to me. I have all the money I could spend in two lifetimes...". Even though it was a kayfabe interview, I took that comment as fact. It's sad to see he's fallen so far in the hole. Then again I have my own debt to worry about, so it's hard to feel bad for someone who spent the better part of the last 30 years having the time of his life.

[Mayonnaise]

Oct 19, 2009 14:58:55 GMT -5 Tea & Crumpets said:

I actually feel sorry for Ric. It just seems he keeps losing everything. Finally drops the Nature Boy lifestyle, and his wife leaves him....then his next wife. Then his son gets into drug issues. Now he basically has to sell everything he has.

He hasn't quit being Natch though. That is part of why he is in the whole. Getting into fights at bars with his daughter's bf, buying everyone drinks in the hotel bar and, the marriages are all still occurring because of this lifestyle.


It sucks for David, having to watch out for his father and younger brother.