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Post by Captain Stud Muffin (BLM) on Feb 22, 2017 17:18:42 GMT -5
I have heard examples of his contract having a big guarantee and him getting a percentage of PPV events. We all know about the creative control clause in his contract in which they had to run things by him for his approval. Is anyone else worth that type of contract outside of Hulk Hogan was in his prime in which he was not when he signed the deal
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Post by zrowsdower on Feb 22, 2017 17:22:39 GMT -5
Heard that in the contract for the first year whenever he walked into the locker room, everyone had to bow down to him Negan style.
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Post by celtics543 on Feb 22, 2017 17:26:17 GMT -5
I'm guessing that Steve Austin could've gotten that same deal if he had wanted to jump to WCW at the time. And if a competing company was still around the Rock right now would probably get that deal. No one will ever come close to that same contract though unless a legitimate competing promotion were to exist in the United States.
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Post by Dr. T is an alien on Feb 22, 2017 17:37:22 GMT -5
I think contractually locking in creative control for someone with zero experience booking was a nightmare. He upended the entire company overnight and it was not remotely done well. Additionally, the money he was given probably required something like a 25% increase of revenue in order to simply break even. It was simply a bad idea all the way through.
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Post by The Dark Order Inferno on Feb 22, 2017 18:47:22 GMT -5
– It was a four year deal lasting from May 29, 1998 to May 28, 2002. So when he went to WWE in February 2002, WWE only had to buy out the last three months of the contract. – Hogan got a $2 million signing bonus. – Each year, Hogan was to appear on six WCW pay-per-view events, for which he’d be paid $675,000 each or 15% of “domestic PPV cable sales received by WCW for each event,” whichever was greater. So he was guaranteed $4.05 million annually in PPV payoffs alone. He was advanced $1.35 million every four months. – “Incentive compensation” bonuses would be received for PPVs that did a 1.5% buy rate or better in different tiers, ranging from $250,000 for a 1.5 to a 1.79 all the way up to $1.75 million for a 3.5 buy rate or greater. In practice, he only got bonused on this contract for Bash at the Beach in July 1998, which drew a 1.5 buy rate for Hogan and Dennis Rodman vs. Diamond Dallas Page and Karl Malone. If the same incentives were in effect on his previous deal, he made a $375,000 bonus for the 1.9 buy rate that Starrcade ’97 (the famous Hogan vs. Sting match) drew. – Payoffs for Monday Nitro and Thursday Thunder appearances were $25,000 or 25% “of the gross (after tax) arena ticket revenues,” whichever was greater, For exampled, as far as shows on this contract go, this means he made: $226,582.50 for the match at the Georgia Dome where he dropped the WCW World Heavyweight Championship to Bill Goldberg and $232,683.75 for the “Finger Poke of Doom” off WCW’s all-time record gate of $930,735. – “Bollea will appear and perform at sixteen {16) mutually agreed upon WCW “Television Tapings” during each calendar year of the Term. Bollea’s appearance and/or Participation at such tapings shall be at no additional cost to WCW.” Presumably that means any non-Nitr0/Thunder tapings. – “Bollea will appear and perform at a reasonable number of non-televised house shows as reasonably requested by WCW,” which was, in practice, not often. Hogan got 25% of the gross with no guaranteed dollar amount, so he generally picked occasional major market house shows to work on. For international dates, there was a “mutual option” where either Hogan or WCW could propose terms that the other side had no obligation to accept. – All of these terms were outlined as being for years one through three, with Hogan getting a $100,000 consulting fee in year four. “In the event that Bollea provides any wrestling services in Year Four” he was paid the according to the same terms. Perhaps he intended to retire, but in year four, WCW existed only as the Universal Wrestling Corporation (WWE bought the WCW assets including trademarks but not the company itself) to fulfill contracts and deal with outstanding lawsuits. – WCW got exclusive rights to Hogan’s likeness and other intellectual property “only in the business of professional wrestling.” This included WCW’s involvement with motorsports like NASCAR and Monster Trucks. Hogan had the right to approve all merchandise, and he retained the ability to use his intellectual property “in connection with non-wrestling related merchandising and licensing including, but not limited to, pasta, pasta restaurants, sandwiches, sun tan oil, health drink mixers, vitamins and merchandise related to Bollea’s movies, television movies and non-wrestling television appearances.” – Hogan received 50% of the net profits for all merchandise sold directly by WCW incorporating his name, likeness, or character. If he was featured in conjunction with other wrestlers, he got 50% of WCW’s share of the net profits. For licensed merchandise, he got 50% of “the Actual License Fees (as herein defined) received by WCW from the licensing of ‘Hulk Hogan’ or Bollea’s name, likeness or character.” – According to other pay documentation from the WCW discrimination lawsuits: For licensing, Hogan made $111,946 in 1998, $832,988 in 1999, and $447,805 in 2000. For WCW-direct merchandise, he made $40,147 in 1998, $20,846 in 1999, and $41,916 in 2000. Keep in mind he didn’t work on any WCW shows after Bash at the Beach in July 2000, the show where he walked out after Vince Russo double-crossed him on a promo. – Ever notice how Hogan wore NWO t-shirts everywhere back in the day? There was a good reason for that: He got a $20,000/month promotional fee for promoting the NWO. That said, “in no event will Bollea’s annual promotional fee as herein provided be less than twenty-five percent (25%) of WCWs Net Receipts and Actual License Fees […] for generic non-talent specific NWO merchandise.” – Other WCW payroll documents from the racial discrimination lawsuits show Hogan as making $3,635,969 payroll in the calendar year of 1998 and $3,756,228 payroll in the calendar year of 1999. It’s been said that some of Hogan’s pay was shifted to other divisions of Turner Broadcasting, and that appears to be the case, as we know he made more than that in pay-per-view payoffs alone each year. Presumably,Turner Home Entertainment, which handled WCW PPV events, paid the PPV payoffs to Hogan, with the “payroll” being what he made for TV and house show appearances. – Hogan would get 100% of the net revenues if WCW launched a Hogan-themed 900 number hotline. On the opposite end of the spectrum, he made nothing from magazine or videotape sales. The latter is surprising, as even though WCW primarily focused on the rental market, there was still money to be made, and they made a big retail push during this contract with “Superstar Series” releases that included a a Hogan video. – The contract was contingent upon WCW receiving an agreement from Marvel Comics (who owned the “Hulk Hogan” name at the time) and “Bollea’s submission to a drug test pursuant to WCWs Substance Abuse Policy, which Bollea agrees he has received and reviewed, and a finding based on such test indicating that Bollea is not currently using any illegal drugs, steroids or other substances prohibited by WCW.” – “When required to travel for WCW as contemplated hereunder, Bollea will receive first-class air travel, first-class suite hotel accommodations, limousine transportation and One Hundred Seventy-Five Dollars ($175.00) per diem.” In other words, officially he had no road expenses other than food and still got a $175.00 stipend each day he was on the road. In practice, the food was likely covered much of the time, to boot, since he mostly worked TV and PPV shows, which were catered. – Finally, there’s the infamous “complete creative control” clause, which actually reads like this: “Bollea shall have approval over the outcomes of all wrestling matches in which he appears, wrestles, and performs, such approval not to be unreasonably withheld.” When Russo double crossed him on that promo, one court ruled that because it was not the “outcome of a wrestling match,” the clause wasn’t violated. Hogan successfully appealed because the clause is worthless if the match result can be effectively undone in a promo. Quoted from the SEScoops summary of his 1998 contract.
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Post by The Dark Order Inferno on Feb 22, 2017 18:56:25 GMT -5
So yes, Hogan was a creative millstone around the neck of WCW and a MASSIVE financial drain once he stopped drawing early in the duration of this contract, other wrestlers like Jericho have said their merch rang up at the registers as Hulk Hogan merchandise so he wasn't just getting money for his likeness, he was getting it across the board.
Nobody was worth the contract WCW gave to Hulk Hogan, not him, not even Steve Austin, because they'd end up paying through the nose for his services even as the company burned.
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Cranjis McBasketball☝🏻
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Post by Cranjis McBasketball☝🏻 on Feb 22, 2017 19:15:54 GMT -5
– It was a four year deal lasting from May 29, 1998 to May 28, 2002. So when he went to WWE in February 2002, WWE only had to buy out the last three months of the contract. – Hogan got a $2 million signing bonus. – Each year, Hogan was to appear on six WCW pay-per-view events, for which he’d be paid $675,000 each or 15% of “domestic PPV cable sales received by WCW for each event,” whichever was greater. So he was guaranteed $4.05 million annually in PPV payoffs alone. He was advanced $1.35 million every four months. – “Incentive compensation” bonuses would be received for PPVs that did a 1.5% buy rate or better in different tiers, ranging from $250,000 for a 1.5 to a 1.79 all the way up to $1.75 million for a 3.5 buy rate or greater. In practice, he only got bonused on this contract for Bash at the Beach in July 1998, which drew a 1.5 buy rate for Hogan and Dennis Rodman vs. Diamond Dallas Page and Karl Malone. If the same incentives were in effect on his previous deal, he made a $375,000 bonus for the 1.9 buy rate that Starrcade ’97 (the famous Hogan vs. Sting match) drew. – Payoffs for Monday Nitro and Thursday Thunder appearances were $25,000 or 25% “of the gross (after tax) arena ticket revenues,” whichever was greater, For exampled, as far as shows on this contract go, this means he made: $226,582.50 for the match at the Georgia Dome where he dropped the WCW World Heavyweight Championship to Bill Goldberg and $232,683.75 for the “Finger Poke of Doom” off WCW’s all-time record gate of $930,735. – “Bollea will appear and perform at sixteen {16) mutually agreed upon WCW “Television Tapings” during each calendar year of the Term. Bollea’s appearance and/or Participation at such tapings shall be at no additional cost to WCW.” Presumably that means any non-Nitr0/Thunder tapings. – “Bollea will appear and perform at a reasonable number of non-televised house shows as reasonably requested by WCW,” which was, in practice, not often. Hogan got 25% of the gross with no guaranteed dollar amount, so he generally picked occasional major market house shows to work on. For international dates, there was a “mutual option” where either Hogan or WCW could propose terms that the other side had no obligation to accept. – All of these terms were outlined as being for years one through three, with Hogan getting a $100,000 consulting fee in year four. “In the event that Bollea provides any wrestling services in Year Four” he was paid the according to the same terms. Perhaps he intended to retire, but in year four, WCW existed only as the Universal Wrestling Corporation (WWE bought the WCW assets including trademarks but not the company itself) to fulfill contracts and deal with outstanding lawsuits. – WCW got exclusive rights to Hogan’s likeness and other intellectual property “only in the business of professional wrestling.” This included WCW’s involvement with motorsports like NASCAR and Monster Trucks. Hogan had the right to approve all merchandise, and he retained the ability to use his intellectual property “in connection with non-wrestling related merchandising and licensing including, but not limited to, pasta, pasta restaurants, sandwiches, sun tan oil, health drink mixers, vitamins and merchandise related to Bollea’s movies, television movies and non-wrestling television appearances.” – Hogan received 50% of the net profits for all merchandise sold directly by WCW incorporating his name, likeness, or character. If he was featured in conjunction with other wrestlers, he got 50% of WCW’s share of the net profits. For licensed merchandise, he got 50% of “the Actual License Fees (as herein defined) received by WCW from the licensing of ‘Hulk Hogan’ or Bollea’s name, likeness or character.” – According to other pay documentation from the WCW discrimination lawsuits: For licensing, Hogan made $111,946 in 1998, $832,988 in 1999, and $447,805 in 2000. For WCW-direct merchandise, he made $40,147 in 1998, $20,846 in 1999, and $41,916 in 2000. Keep in mind he didn’t work on any WCW shows after Bash at the Beach in July 2000, the show where he walked out after Vince Russo double-crossed him on a promo. – Ever notice how Hogan wore NWO t-shirts everywhere back in the day? There was a good reason for that: He got a $20,000/month promotional fee for promoting the NWO. That said, “in no event will Bollea’s annual promotional fee as herein provided be less than twenty-five percent (25%) of WCWs Net Receipts and Actual License Fees […] for generic non-talent specific NWO merchandise.” – Other WCW payroll documents from the racial discrimination lawsuits show Hogan as making $3,635,969 payroll in the calendar year of 1998 and $3,756,228 payroll in the calendar year of 1999. It’s been said that some of Hogan’s pay was shifted to other divisions of Turner Broadcasting, and that appears to be the case, as we know he made more than that in pay-per-view payoffs alone each year. Presumably,Turner Home Entertainment, which handled WCW PPV events, paid the PPV payoffs to Hogan, with the “payroll” being what he made for TV and house show appearances. – Hogan would get 100% of the net revenues if WCW launched a Hogan-themed 900 number hotline. On the opposite end of the spectrum, he made nothing from magazine or videotape sales. The latter is surprising, as even though WCW primarily focused on the rental market, there was still money to be made, and they made a big retail push during this contract with “Superstar Series” releases that included a a Hogan video. – The contract was contingent upon WCW receiving an agreement from Marvel Comics (who owned the “Hulk Hogan” name at the time) and “Bollea’s submission to a drug test pursuant to WCWs Substance Abuse Policy, which Bollea agrees he has received and reviewed, and a finding based on such test indicating that Bollea is not currently using any illegal drugs, steroids or other substances prohibited by WCW.” – “When required to travel for WCW as contemplated hereunder, Bollea will receive first-class air travel, first-class suite hotel accommodations, limousine transportation and One Hundred Seventy-Five Dollars ($175.00) per diem.” In other words, officially he had no road expenses other than food and still got a $175.00 stipend each day he was on the road. In practice, the food was likely covered much of the time, to boot, since he mostly worked TV and PPV shows, which were catered. – Finally, there’s the infamous “complete creative control” clause, which actually reads like this: “Bollea shall have approval over the outcomes of all wrestling matches in which he appears, wrestles, and performs, such approval not to be unreasonably withheld.” When Russo double crossed him on that promo, one court ruled that because it was not the “outcome of a wrestling match,” the clause wasn’t violated. Hogan successfully appealed because the clause is worthless if the match result can be effectively undone in a promo. Quoted from the SEScoops summary of his 1998 contract. Bret wanted that exact deal plus a single penny.
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Post by Mozenrath on Feb 22, 2017 19:19:06 GMT -5
So yeah, I would be flabbergasted if a wrestler has ever had a more lucrative contract in wrestling history.
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Post by Hit Girl on Feb 22, 2017 19:27:56 GMT -5
Sting should have squashed him at Starrcade 1997 with Hogan tapping out clean, ending the NWO storyline once and for all. They should have then given Hogan a far more limited contract and said take it or leave it, because he was a spent force. 1998 was the year they needed to start repackaging or moving on the NWO guys and pushing younger guys and fresher talent.
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Post by The Dark Order Inferno on Feb 22, 2017 19:30:22 GMT -5
Bret wanted that exact deal plus a single penny. That would have been hard to get, given how the informal offer to Bret that was the basis of his WCW contract was made before Hulk Hogan negotiated the 1998 deal and Bret was likely in WCW before it was finalised.
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Post by DASH 243✅ on Feb 22, 2017 19:31:13 GMT -5
and his ex wife took it all
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Post by Viking Hall on Feb 22, 2017 19:31:58 GMT -5
Anyone else get the feeling that Hogan was done with wrestling or at least WCW when he signed the contract? In other words, he would have quite happily walked away but threw a silly number out there and they took the bait. A bit like when someone tries to buy something off of you that you don't really want to sell so you throw the 'not for sale' number out there that's way more than it's worth but you'd be stupid to turn down.
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Post by The Dark Order Inferno on Feb 22, 2017 19:39:58 GMT -5
Anyone else get the feeling that Hogan was done with wrestling or at least WCW when he signed the contract? In other words, he would have quite happily walked away but threw a silly number out there and they took the bait. A bit like when someone tries to buy something off of you that you don't really want to sell so you throw the 'not for sale' number out there that's way more than it's worth but you'd be stupid to turn down. Nah, he was in active negotiations with the WWF in 1997 and was enjoying a second run as a mainstream celebrity with all the scandals of the early 90s forgotten, there is zero chance he would have given that up. He kept the one more match talk going up until the racism scandal and would still be throwing that out to this day because he craves the exposure and celebrity that comes with being a high profile wrestler. I think the offer is akin to a TV producer giving the star of a show a producer/director role to keep them locked in and engaged, which makes sense in theory, but wrestling is filled with carnies who only think about short term gain. I doubt Hogan really gave a damn about where WCW would be after his contract ended because his money was guaranteed and he'd be able to walk off to a beach in Florida and never look back if he so chose.
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Cranjis McBasketball☝🏻
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Post by Cranjis McBasketball☝🏻 on Feb 22, 2017 19:41:47 GMT -5
Bret wanted that exact deal plus a single penny. That would have been hard to get, given how the informal offer to Bret that was the basis of his WCW contract was made before Hulk Hogan negotiated the 1998 deal and Bret was likely in WCW before it was finalised. His story is he knew he'd never get it, but Eric insisted he ask for something.
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Post by The Dark Order Inferno on Feb 22, 2017 19:47:46 GMT -5
That would have been hard to get, given how the informal offer to Bret that was the basis of his WCW contract was made before Hulk Hogan negotiated the 1998 deal and Bret was likely in WCW before it was finalised. His story is he knew he'd never get it, but Eric insisted he ask for something. That'd be Hulk's first contract plus a penny, not the company strangling 1998-2003 one that got leaked online. I kind of wish they had matched that one for Bret, because there's no way they would have booked him like they did if he had creative control.
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Cranjis McBasketball☝🏻
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Post by Cranjis McBasketball☝🏻 on Feb 22, 2017 19:48:58 GMT -5
His story is he knew he'd never get it, but Eric insisted he ask for something. That'd be Hulk's first contract plus a penny, not the company strangling 1998-2003 one that got leaked online. I kind of wish they had matched that one for Bret, because there's no way they would have booked him like they did if he had creative control. Bret thought that once before. Which is how he wound up in WCW and HBK as champ.
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Post by The Dark Order Inferno on Feb 22, 2017 19:52:25 GMT -5
That'd be Hulk's first contract plus a penny, not the company strangling 1998-2003 one that got leaked online. I kind of wish they had matched that one for Bret, because there's no way they would have booked him like they did if he had creative control. Bret thought that once before. Which is how he wound up in WCW and HBK as champ. He'd have had a better shot at using it in WCW as they had a better track record of honouring contracts than Vince, mostly because they'd been sued and lost every time they've tried funny business.
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Cranjis McBasketball☝🏻
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Post by Cranjis McBasketball☝🏻 on Feb 22, 2017 19:54:29 GMT -5
Bret thought that once before. Which is how he wound up in WCW and HBK as champ. He'd have had a better shot at using it in WCW as they had a better track record of honouring contracts than Vince, mostly because they'd been sued and lost every time they've tried funny business. I think Hall and Nash waived their favoured nations clause to get Bret. So that's something.
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Post by The Thread Barbi on Feb 23, 2017 4:42:33 GMT -5
That Hogan contract is daylight robbery. Was there any thought to how the company would make any money?
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Post by Viking Hall on Feb 23, 2017 9:33:59 GMT -5
Anyone else get the feeling that Hogan was done with wrestling or at least WCW when he signed the contract? In other words, he would have quite happily walked away but threw a silly number out there and they took the bait. A bit like when someone tries to buy something off of you that you don't really want to sell so you throw the 'not for sale' number out there that's way more than it's worth but you'd be stupid to turn down. Nah, he was in active negotiations with the WWF in 1997 and was enjoying a second run as a mainstream celebrity with all the scandals of the early 90s forgotten, there is zero chance he would have given that up. He kept the one more match talk going up until the racism scandal and would still be throwing that out to this day because he craves the exposure and celebrity that comes with being a high profile wrestler. I think the offer is akin to a TV producer giving the star of a show a producer/director role to keep them locked in and engaged, which makes sense in theory, but wrestling is filled with carnies who only think about short term gain. I doubt Hogan really gave a damn about where WCW would be after his contract ended because his money was guaranteed and he'd be able to walk off to a beach in Florida and never look back if he so chose. Well, this is sort of what I mean. WCW although not at its lowest ebb was on a downturn by 1998 whereas WWF was on its way to being the hottest it had been since his Hulkamania prime. Say what you will about him, but Hogan is the sort of guy who wants to be on a winning team. It's no coincidence he left the WWF when they were on the downturn and it's no coincidence that he turned up in WCW when they suddenly started looking like they could be players. So to me, if I'm Hulk Hogan in 97/98 the WWF is going to be the preferred destination simply because if they continue to do well and he's on the roster, some of the credit will naturally fall his way. I mean, think of all the 'I was the one that swayed the Monday Night Wars, brother' interviews he could have done years later if he'd turned up in the WWF in the late nineties and WCW still eventually went out of business. That looks good on the Hulksters CV and he knows that. However, being the astute business mind that he is, he's still going to throw the silly number out there to see if WCW bites because it's a big enough deal to make up for the fact that he's likely to be on the losing team and he will still fare far better financially than he would by being on the winning team. A sacrifice worth making in other words.
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