Submitted by Eric Loy.
In one of the worst times in WCW history, some major pay-cuts could send shockwaves through the wrestling industry. With WCW projected to lose over $80 million dollars this year, several WCW and Time Warner executives and accountants have been figuring out ways to cut costs within the company. WCW wants all these changes to take place before the AOL-Time Warner merger in December. There is reportedly a list of wrestlers that WCW wants to get rid of, whether it by release or buy-out of contract. This list includes:
- Hulk Hogan
- Diamond Dallas Page
- Bill Goldberg
- Scott Hall
- Lex Luger
- Buff Bagwell
Vince Russo has had much imput on this topic, and has told Time Warner that he would like to build the company around these people:
- Booker T.
- Jeff Jarrett
- Scott Steiner
- Kevin Nash
It will be interesting how all of this situation plays out, and as always.
The official reason that Kid Romeo was released from WCW was due to the fact that he no showed some of the dates that he was booked for.
Vince Russo appearantly wants to get rid of Goldberg, however Brad Siegel refuses to let The Man go. Goldberg has caused many backstage problems, and refuses to go along with many of the storylines that Vince sets forth. One of the main problems in the WCW is that even though Vince Russo runs the show, he does not have the authority to hire and fire as he pleases. If this were the case, Goldberg may not be in the company at this time.
Wade Keller recently broke the story of Time Warner/Turner executives who have been assigned to work with WCW head Brad Siegel to work on financial cutbacks. Some of the major decisions they are thinking about is cutting back and/or buying out some of the major contracts with a few members of the wrestling talent.
Some of the names released by Keller include Buff Bagwell, Dallas Page, Scott Hall, Hulk Hogan, Lex Luger, and Bill Goldberg. Some of the others on the list are wrestlers and some are other employees.
The idea is to make cutbacks before the Time Warner/AOL merger is completed later this year. Some of these high-budget deals are being called "Bad Bischoff Deals". Brad Siegel will not be able to save anyone that is cut. The names on the list are purely being proposed and the decision is not final.
The addition of Goldberg to the list stems from recent hardships working with him backstage. A meeting was held with WCW higher-ups and Goldberg yesterday which reportedly did not go well at all.
As far as the Hogan situation goes, Keller is reporting that the Bash at the Beach stuff was all a work between Hogan, Russo, and Siegel, but turned into a much larger and legit situation once Time Warner executives learned of it. The lawsuit from Hogan's lawyers is purely legit.
Thanks to Wade Keller and Brad Bice
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