Cokeboy bought WCW for 2.5 Million Dollars

[MenacingMonk]

I never gave it thought. He bought A globally recognized company, video library, props, talent, and other things for so little.

fukkin 2.5?!

 

[Bob Loblaw]

I heard hoe kogan was pissed when he heard cuz he would’ve bought it

 

[NYChase718]

Inside job

 

[Mʀ2ᴋDᴇᴇᴢ]

He had a coupon perhaps

 

[Beautiful Bobby Eatin]

I heard hoe kogan was pissed when he heard cuz he would’ve bought it

Jericho said the same

 

[PTBG]

Inside job

WWF's end of fiscal 2001 report (released 7/28) notes that all of the intellectual properties and assets of WCW including the trade name, tape library and other intangible assets were sold by AOL- Time Warner for a staggeringly low $2.5 million.

This is despite an offer from Bischoff/Fusient Media Group for $48.3 million, just days prior to the sale to WWF.

The Fusient offer included a $5 million deposit - so, even if the deal had collapsed, TBS would have picked up double what they've now got from Vince. Moreover, Fusient had agreed to take over every contract - relieving AOL-Time Warner of more than $15 million in salary payouts.

Instead, as thing now stand, Time Warner will be paying Goldberg more in one year than all the money they got from the sale of WCW.

The following quotes are from Bob Ryder (Former WCW Employee and current Director Talent Bookings & Travel for TNA Wrestling) via 1wrestletalk.com on July 30th 2001...

"While Fusient was still at the negotiating table [and negotiating in good faith], Siegel was contacting his friend Stu Snyder at the WWF to figure out what needed to be done to make sure the WWF got the deal." According to Ryder, Siegel and " Stu Snyder (the top WWF exec who brokered the deal) were friends and co-workers when Snyder worked with Time Warner. It is widely believed that Siegel offered the job of WCW President to Snyder near the end of the Busch era, but that Snyder turned it down and went to work with the WWF."

"When it became obvious that the only way the WWF could get back in the hunt to buy WCW would be if the shows were cancelled...that's exactly what Siegel made sure happened."

"Siegel sabotaged his own company by convincing Kellner to cancel the shows. He did that AFTER he made a call to Stu Snyder and found out the only way he could make a deal with the WWF was to cancel the shows." "Once the shows were cancelled, that narrowed the potential buyers to one."

"There were at least four offers from people who were willing to pay much more than the WWF paid..... A group headed by former WCW exec Jay Hassman had tried several times to be included in the bidding, and they were ignored repeatedly."

 

[Uncle Phil 36]

It cost 2.5 for the rights etc, but you have to think that you have to secure TV rights to be able to afford to run the company. I bet they were burning through millions in costs monthly so even if you could "purchase" the company, being able to keep it afloat is another thing

 

[WaveMolecules]

i never heard this before

 

[MushroomX]

Dixie would have gotten 75k Airline Miles with that purchase on her card.

Missed opportunities...

 

[The Prince of All Saiyans]

Dixie would have gotten 75k Airline Miles with that purchase on her card.

Missed opportunities...

 

[The Prince of All Saiyans]

trash servers

 

[Scottie Drippin]

Inside brehs set up the deals to help each other out. That's how business works at these levels. The 2.5 million thing is irrelevant as no one else could get it for that price.

 

[Berniewood Hogan]

 

[jadillac]

I figured bc Turner was just so eager to get rid of WCW, they took whatever.

But wcw was stupid for the tape library being sold for next to nothing. They made a ton on that

 

[Hey_zeus]

Speaking of conspiracies.