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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteThe reported “staggering” terms belong to Hulk Hogan’s 1998 WCW extension, not his first WCW contract. A May 29, 1998 letter renewed and extended an October 15, 1996 agreement through May 28, 2002. It promised a $2 million bonus, a minimum of $675,000 for each of six featured pay-per-view appearances annually in the first three years, plus contingent bonuses and other revenue shares.
What agreement did Hulk Hogan sign?
The agreement at issue is a May 29, 1998 letter of agreement between World Championship Wrestling, Inc. and Terry Bollea, known as Hulk Hogan. The letter expressly says it renews and extends an October 15, 1996 agreement, so it should be described as Hogan’s 1998 WCW extension—not as his original WCW deal. The four-year term ran through May 28, 2002. The scanned agreement is marked confidential and includes an exhibit marking; it is a third-party-hosted scan.
The contract lays out compensation and obligations. It does not establish how much WCW ultimately paid Hogan, whether every scheduled appearance occurred, or what his total earnings were.
How much was Hogan guaranteed for WCW pay-per-views?
For each of the first three contract years, Hogan was to promote, appear, wrestle and perform at six pay-per-view events annually, serving as the featured wrestler at each. For each event, compensation was the greater of 15% of domestic pay-per-view cable sales received by WCW or a $675,000 guarantee.
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- ELITE COLLECTION FIGURE: Part of the WWE Elite Collection Monday Night Wars Series 11, this Hulk Hogan action figure features True FX life-like details for an authentic look
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The letter also scheduled three payments of $1.35 million in each of those years—on July 1, November 1 and February 1—as advances against the pay-per-view guarantee. These advances are not a separate bonus to add on top of the event compensation: the agreement identifies them as advances against the guarantee.
Additional pay-per-view incentives
The agreement lists an additional per-event incentive based on the event’s buy rate:
| Buy-rate tier | Listed incentive per event |
|---|---|
| 1.5–1.79 | $250,000 |
| 1.8–1.99 | $375,000 |
| 2.0–2.49 | $500,000 |
| 2.5–2.99 | $850,000 |
| 3.0–3.49 | $1.25 million |
| 3.5 or higher | $1.75 million |
These are contractual incentive tiers, not evidence that any particular event reached a tier or that Hogan collected a specific amount. The figures are transcribed from the agreement scan; its OCR is imperfect, so the page image is the relevant reference for checking the schedule.
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What other event and appearance pay did the contract provide?
Nitro and Thunder
During each of the first three years, if Hogan appeared and wrestled on Nitro or Thunder, he was to receive 25% of gross after-tax arena ticket revenue for that event, subject to a $25,000 minimum per event.
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Television tapings and house shows
Hogan was required to appear at 16 mutually agreed television tapings per calendar year at no additional cost. He was also to perform at a “reasonable” number of non-televised house shows as reasonably requested, for 25% of gross after-tax arena ticket revenue.
Year four
For the fourth year, WCW was to pay a $100,000 consultant fee. If Hogan provided wrestling services during that year, the event compensation in the specified sections of the agreement would apply.
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What did Hogan receive from merchandise, licensing and NWO promotion?
Merchandise and licensing
The letter granted WCW specified exclusive worldwide rights for wrestling-related merchandising and licensing, subject to stated exceptions. Hogan was to receive 50% of defined net receipts from merchandise WCW sold directly to consumers using his name, likeness or character, and 50% of defined actual license fees after specified deductions.
He retained the right to use his identity in non-wrestling merchandise and licensing. The agreement’s examples include pasta, restaurants, sandwiches, suntan oil, health-drink mixers, vitamins and non-wrestling entertainment. The stated percentages apply to the agreement’s defined receipts and fees, not necessarily to gross sales.
New World Order promotion
While Hogan was a member of the New World Order (NWO), the contract provided a $20,000 monthly promotional fee for promoting the group, including wearing its name while wrestling, on air and in photo shoots. It also specified a separate annual minimum formula tied to WCW’s receipts and fees for generic NWO merchandise.
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Did Hulk Hogan have creative control in WCW?
Yes. The letter states that Hogan “shall have approval over the outcome of all wrestling matches in which he appears, wrestles and performs,” adding that “such approval not to be unreasonably withheld.” That establishes a contractual approval right; the clause alone does not show how often Hogan used it.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What other unusual provisions were in the agreement?
Call-in hotline
If WCW created a Hulk Hogan or Hollywood Hogan call-in hotline and Hogan supplied recordings, he was to receive 100% of defined WCW net revenues from his features on that hotline.
Travel and per diem
WCW’s travel provisions specified first-class air travel, first-class hotel accommodations, limousine transportation and a $175 per diem.
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What the contract does—and does not—show
The agreement is notable for combining a large guaranteed payment structure with contingent event incentives, ticket-revenue shares, merchandising and licensing income, promotional fees, and a match-outcome approval clause. But contract terms are not a realized-pay report: the scan does not establish total compensation paid, event-by-event sales, which incentives were triggered, or how often Hogan exercised approval rights.
For historical context, PWInsider’s excerpt from Guy Evans’s book Nitro discusses the 1998 extension alongside the Hogan–Goldberg Georgia Dome match. A later Wrestling Inc. summary also reports selected provisions, but the agreement scan is the primary source for the clauses and amounts described here.
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