AWA 1989: A Financial Savior Is (Badly) Needed

[Captain Kremmen]

NOVEMBER 1989

 

AWA HQ - ST. LOUIS PARK, MN

 

(*The November tapings would have already taken place by now. I'll post the show results after THE DECISION!)

 

Verne Gagne called his son Greg into his office along with TV producer Al DeRusha (Wally Karbo had retired).

 

The two men made their way to the office together. Verne left the door open for them. (Or left the light on for them if it was a Motel 6.)

 

Al and Greg took their seats in the chairs in front of Verne's desk.

 

Greg: What's the scoop, dad?

 

Verne: Well, as you know, Vince is out of the picture. I just couldn't sell to him because I think I know what he would have done with the AWA.

 

Al: I can see it now. Your new AWA World Champion...Hillbilly Jim!

 

The trio shared a laugh.

 

Verne: So, we're down to 'Team Blondie' and Tribune Media.

 

Greg: Which way are you leaning?

 

Verne: Well, I've been thinking. I think there's a third option.

 

Greg and Al shifted nervously in their chairs.

 

Al: What is this third option?

 

Verne: Business is better than it's been since mid-1986.

 

Greg: Oh no! No!

 

Verne: You know, I think I might have one more good run left in me as the boss of the AWA.

 

Al: God, Verne...

 

Greg (flustered): Have you talked to mom about this?

 

Verne: No.

 

Greg threw up his hands.

 

Greg: You're a lot closer to 70 that you are to 35. You've got a couple of nice offers on the table. And with how cyclical this business is, you know things could go bust at any moment.

 

You walk away from these offers just remember you may never get another one.

 

The AWA isn't exactly the hottest property on the block right now.

 

Al: It's late in the game, Verne. Take one of those deals and you're set. You reject them and you don't know what the future will hold for you and Mary.

 

Sometimes the safest bet is the smartest bet. Standing on 16 can be a winning hand, too.

 

Verne: You make a good point, Al.

 

But I firmly believe we're headed in the right direction.

 

Greg: Now that the Lawler-Sarge program is over, how do you know business won't drop again and soon?

 

Verne: I don't. But sometimes we just have to roll the dice.

 

Suddenly, it all came pouring out of Greg.

 

Greg: Dammit, dad! For the last three years before you hit on Lawler-Sarge, you had been rolling nothing but snake eyes!

 

Do you really want to risk it?! Do you really want everything to go up in smoke now?!

 

Two great offers out there! Pick one and be done with it! You'll still be working for whichever group buys the damn thing!

 

Keeping the business and hoping...HOPING...that things turn around for the better long-term is just your ego talking!

 

You've had a great run! Now do the right thing and sell!

 

Uneasy silence.

 

Verne (low-key): Al?

 

Al (softly): It's time to sell, Verne.

 

Greg: Dad. Please. For mom.

 

She's tired. She's had enough of being a wrestling wife and mother.

 

She's had enough of you being on the road or in the office.

 

It's time to think about your golden years together.

 

Do the right thing, dad.

 

A silence once again filled the room as all three men sat contemplating the matter at hand.

 

Would Verne really take one last crack at trying to run the AWA with all the risks involved?

 

Or would he sell?

 

It was all up to the 10-time AWA World Champion.

 

STAY TUNED...

[Captain Kremmen]

NOVEMBER 1989

AWA HQ - ST. LOUIS PARK, MN

AWA chief Verne Gagne was sitting at his desk awaiting a call.

He was nervous.

After waiting what seemed like an eternity, Gagne's secretary buzzed the intercom.

Secretary: Ron DeSantis of Tribune Media on line one.

Verne picked up the phone.

Verne: Hello, Ron.

Ron: Hello, Verne.

Well, I'm calling to see where we stand right now.

Verne: As you know, it's between you guys at Tribune and Team Blondie, as I like to call them.

That's as much as I can say right now because that's where we stand.

Ron: Verne, I've been told by my bosses to sweeten the pot.

Verne: How sweet are you gonna make it?

Ron: Remember when I told you that we'd pay you $30 grand a month for the rightS to carry your current ESPN show on WGN instead?

Verne: Yes.

Ron: Well, Tribune has decided to raise the offer to $36,000 a month.

Verne: OK. Hold on a second.

Verne quickly did the math.

Verne: That's $432,000 dollars.

Ron: Correct.

Plus, there's one more thing.

Verne: Hit me with it.

Ron: It's about your son, Greg.

We know that Greg's active full-time wrestling career is drawing to a close.

What we'd like to do is work with you running the AWA and also wrestling part-time.

Verne: I'm sure Greg would be amenable to that.

Ron: We'd pay him, guaranteed, $120,000 per year for three years, plus money for wrestling on TV and arena shows and any potential bonuses.

Verne: So the money for wrestling would be on top of the $120?

Ron: Correct.

Verne: Wow!

He'd listen to that offer. Haha. Believe me. Greg would take notice.

And possible bonuses?!

Ron: Yes, sir.

Verne, we want the AWA, an upper midwest staple for decades, to become part of the Tribune Media family.

WGN is a natural fit for AWA programming since Chicago has historically been AWA country.

Verne: You make a good pitch, Ron.

I just have to set up one more meeting with Team Blondie and then I'll get back to you with my answer.

Ron: OK, Verne.

I anxiously await your decision.

Verne: Talk to you, soon.

Ron: Bye, Verne.

Verne hung up the phone.

Tribune Media just gave Verne an offer that might be too good to refuse.

The end was near.

STAY TUNED...

 

[SonOfSharknado]

If Verne doesn't take this deal, his son is going to kill him with a ballpeen hammer. 

[TC Dale]

This story has been a fun ride, and I can't wait to see how it ends, and then how it goes with the new company. KUTGW!

[smartman]

Team Blondie needs to pick up a few more blondes (or 4 Non-Blondes to keep it music-themed) to come close to matching that offer. Not sure how Tribune is going to turn a profit with that much money going out the door given the shape of the AWA. Wonder what Memphis is doing right about now? Picking up CWA/USWA would help a lot with talent and a few good drawing houses a week.

[Captain Kremmen]

On 11/15/2022 at 7:10 PM, SonOfSharknado said:

If Verne doesn't take this deal, his son is going to kill him with a ballpeen hammer. 

If Greg does that, he'll need the money to find a good attorney when he goes on trial for murder!😆

12 hours ago, TC Dale said:

This story has been a fun ride, and I can't wait to see how it ends, and then how it goes with the new company. KUTGW!

Thanks for the kind words. Glad you're enjoying it. The end of this ordeal is just over the horizon.

4 hours ago, smartman said:

Team Blondie needs to pick up a few more blondes (or 4 Non-Blondes to keep it music-themed) to come close to matching that offer. Not sure how Tribune is going to turn a profit with that much money going out the door given the shape of the AWA. Wonder what Memphis is doing right about now? Picking up CWA/USWA would help a lot with talent and a few good drawing houses a week.

Like with WCW, WGN/Tribune could take a hit at first. But deep pockets would mean picking up top talent. Could Vince even comepete with them if Tribune was all in?

Funny. I thought about Jerry Jarrett a couple of days ago. 😉

[Captain Kremmen]

On 11/14/2022 at 4:26 PM, Old School Fan said:

Well, personally, I can't take credit for the name myself, since...  😏

 

Oh! Haha! I forgot I used it before. I'm getting senile in my old age! 😁

[Captain Kremmen]

NOVEMEBER 1989

JIM CROCKETT'S HOME - CHARLOTTE, NC

Jim Crockett had gotten word from an anonymous insider at Tribune Media that Tribune upped the offer to buy the AWA from Verne Gagne.

Jim placed a call to Bill Watts.

After two rings...

Bill: Hello.

Jim: Bill, this is Jim Crockett.

Bill: Hey, Jim!

What can I do for you?

Jim: I just received a call from someone I know who works for Tribune Media.

Bill: You would not be calling me if this was good news. What did he say?

Jim: He said Tribune Media jacked upped their offer to Verne.

Bill: S-hit! Did he give a dollar amount?

Jim: Tribune initially offered Verne $360,000 a year for the rights to air and produce his main cable program for WGN.

They've now upped that offer to $36 grand a month, or $432,000 for the year.

Bill Whistled.

Jim: And they've made an offer to bring Greg on board to work with Verne for $120,000 per year for three years. Plus, they'd have Greg wrestle part-time and pay him for his ring work on top of the $120 grand he'll get guaranteed.

I did the math. When you include the $2.5 million dollar offer for the company, the $1.2 million dollar offer to Verne to run the AWA the next three years, the TV deal and the offer for Greg, it comes out to around $4.5 million.

Bill: No way in hell we could match that. Verne would be crazy not to take the deal.

Jim: We sure can't match the money offer. The only thing we can do is up our offer some and try and get Verne to see the only way the AWA will 100% stay a wrestling company is if he sells to us.

Bill: I know Verne's not too crazy about the whole corporate thing, so we would have to try and convince him to sour on that idea.

Jim: I've come up with an idea. We up our offer by $300,000.

I'm gonna call someone I think might be interested in buying in.

Bill: Who?

Jim: Jerry. Jerry Jarrett.

Bill:  I wouldn't bank on that cheap-ass bastard ponying up $300,000.

Jarrett's payouts were so low you could slide the payout envelope with the money in it under an ant's belly with room to spare.

Jim: Haha!

I agree. He won't go in for $300. But he might go for $100 to $150.

The rest of it would be spread between you, Deborah, John and myself.

Bill (sighed): Well, give it a shot.

I can't believe Tribune would offer that much for a promotion that's on life-support.

Jim: They are, Bill. They are.

Listen, I'll call Jerry and see if he's interested. After I talk with him, I'll call John and let him know the situation.

Bill: You do that. Personally, I don't think it's worth $2 million. But, we want to get back in the game and an established name is the way to go rather than entering on the ground floor in my opinion.

Jim: I'll give Jarrett a call and get back to you.

Bill: This is it for me, Jim. I won't go a dollar higher.

Jim: I'm with you, Bill.

Talk with you soon.

Bill: OK. Bye, Jim.

Time to call Mr. Jarrett.

*******************************************

JERRY JARRETT'S HOME - MEMPHIS, TN

Jerry Jarrett was sitting in his recliner reading a book when the phone rang.

After one ring...

Jerry: Jerry Jarrett.

Jim: Jerry, this is Jim Crockett.

Jerry: This is a pleasant surprise. Heard through the grapevine that you are trying to buy the AWA with Watts.

Jim: Well, Watts and singer Deborah Harry and director John Waters.

Jerry: You serious? The lead singer of Blondie wants in the game?

Jim: Sure am.

Jerry: What are guys offering if I can ask?

Jim: We're about to offer Verne $3.5 million.

Jerry (stunned): $3.5 million?! You can't be serious?! The AWA's nothing but a fire sale waiting to happen, Jim! Good lord!

Jim: When Vince McMahon entered the fray, it drove the price up considerably. The good news is that Vince is out of the picture now.

Jerry: What did he offer?

Jim: $3.5 million.

Jerry: Why are you offering the same price if he's out? Doesn't make any sense.

Jim: Unfortunately, Tribune Media has also entered the picture and is offering Verne over $4 million.

Jerry: Tribune Media. Don't they own a bunch of papers and the Cubs?

Jim: That's them.

Jerry: I say let 'em have it. $4 million for something that might be worth a million or so at most.

You have no chance of turning that thing around, Jim. I'm serious as a heart attack after being sat on by Shirley Hemphill.

Give it a year, maybe two, and Tribune will have a severe case of buyer's remorse.

The business is in a bit of a downward cycle right now.

Don't be foolish and burn through your money like that.

Jim: Right now, our offer sits at $3.2 million. We think if we can get it up a bit and promise to keep the AWA a more traditional wrestling promotion then we can ultimately compete with the WWF as the true alternative.

Jerry: And you want me to chip in $300 grand? No way, mister. Not gonna happen.

Better off taking that money and burning it in a burn barrel. It's the same damn result.

Jim: We're not asking for the whole $300 from you, Jerry.

We were hoping you might come in and help defray the cost.

Hey! What about Lawler?

Jerry: I can tell you that Jerry Lawler wouldn't go in on the deal even if he only had to pony up a f-uckin' dollar. He knows a losing proposition when he sees it.

Jim: So, I guess that's a no?

Jerry: It's a no, Jim. I'm sorry.

Jim: Just think about it, Jerry. All business ventures are a risk. They hold no guarantees.

Jerry hemmed and hawed for a moment.

Jerry: Tell you what. I'll think about it. But don't hold your breath.

Jim: OK, Jerry. Just don't leave us twisting in the wind.

Jerry: I'll get back to you real soon. As in 24-48 hours soon.

Jim: Talk to you then, Jerry.

Jerry: Alright, Jim. Bye.

Jim: Take care.

The wild ride was coming to an end. But who knows how many more twists and turns are left before reaching the final destination?

STAY TUNED…

[Captain Kremmen]

NOVEMBER 1989

 

JIM CROCKETT'S HOME - CHARLOTTE, NC

 

It was 6am, the morning after Crockett's call to Jerry Jarrett when the phone rang.

 

After the third ring...

 

Jim (tired voice): Hello.

 

Jerry: Jim?

Jim: Jerry. It's what, 6 in the morning? I'm still sleeping.

 

Jerry: It is 6am.

 

Sorry for calling so early. I've got an answer for you.

 

Jim: Give it to me.

 

Jerry: I'll buy in for 3% of the company. That's $105,000 dollars.

 

Jim: Great. I'll call Bill and John later today and...

 

Jerry: But there's a catch to it.

 

Jim: What is it?

 

Jerry: I want some of my wrestlers to occasionally appear on AWA programming and houses and some AWA wrestlers to appear on Memphis programming.

 

Jim: How do you want them used on AWA shows?

 

Jerry: Well, I'd like them to appear on AWA shows in squashes and also occasionally in some TV mains against AWA wrestlers. I would also like Memphis wrestlers to appear on AWA shows and fight each other. It's good exposure for us.

 

Jim: Geez, Jerry. I don't know about putting them in TV mains against AWA guys. I'd have to talk to Bill about that.

 

Jerry: So, Watts is the booker?

 

Jim: If we buy he will be.

 

Jerry: Well, talk to him about it.

 

Jim: Is it a deal breaker if we don't showcase them in TV mains.

 

Jerry: Look, I'm just asking for it to happen on occasion. We'll put the AWA guys over. Unless you want to create a TV-only angle that could lead to multiple inter-promotional matches.

 

Jim: Let me talk to Bill about it.

 

Anything else?

 

Jerry: I'd want a booking fee for my wrestlers appearing on your shows.

 

Jim: How much we looking at?

 

Jerry: We can talk money later.

 

Jim: Would Lawler be interested in working cross-promotion with another AWA star.

 

Jerry: If the price is right, of course.

 

Jim: Let me call Bill and see what he'd want to do.

 

Jerry: Do that, Jim. See what he's open to.

 

Jim: OK, Jerry. Bye.

 

Jerry: Talk with you soon.

 

*****************************************

Later that day...

 

Jim Crockett picked up the phone and called Bill Watts.

 

After two rings.

 

Bill (in a deep Barry White-like voice): Hellooooo, b-itch.

 

Jim: Uh, Bill. This is Jim Crockett.

 

Bill (startled): Oh, Jim! Haha! Sorry. Was expecting a call from a certain female.

 

Jim: Hahaha! That's good to know. Hoping I wasn't your b-itch.

 

Bill: Nah! You're just a son of a b-itch.

 

The pair shared a good laugh.

 

Jim: She must be into some really kinky stuff if you call her b-itch when answering the phone.

 

Bill (now annoyed): Yeah yeah. What are you calling about?

 

Jim: Jerry Jarrett wants in.

 

Jim: He's offered to buy 3% of the company. It's $105,000.

 

Bill: OK. That means the remaining $200 grand will be covered by the four of us. $50 grand each.

 

Jim: Plus, he wants some of his wrestlers to appear on AWA TVs and some of the houses on an occasional basis.

 

Bill: I'm in. He can control the booking for them and how they're presented unless there's a crossover angle and match somewhere down the line. Then I'd be in charge of that.

 

Jim: He also wants some of our guys to appear on Memphis TV.

 

Bill: Sounds good. We can hash out details later if the sale happens.

 

Jim: He also wants a booking fee for his wrestlers appearing on our programs.

 

Bill: Only if it's within reason. We'll want a fee for our wrestlers appearing on Memphis TV, too.

 

Knowing Jarrett, he'll pocket the entire fee and pay his boys jacks-hit. It's the Jarrett way.

 

Jim: Haha!

 

OK. I'll call John Waters and let him know what's going on.

 

Bill: Keep me updated.

 

Jim: I will, Bill.

 

Bill: Take care.

 

Jim: Goodbye...b-itch.

 

Bill: Go away, Jim.

 

The pair laughed as the call ended.

 

Jerry Jarrett was on board.

 

Now to convince John and Deb.

 

STAY TUNED...

Edited November 22, 2022 by piperrulz

[Captain Kremmen]

NOVEMBER 1989

Jim Crockett had contacted Deborah Harry and John Waters and let them know about Jerry Jarrett being interested in purchasing a small percentage of the company and using some of Jarrett's Memphis wrestlers on AWA TV on occasion. Crockett also said that he was looking to up the offer to Verne to $3.5 million because of the huge offer Tribune put on the table.

Harry and Waters were fine with the decision and both said they trusted the acumen of the wrestling guys in handling this situation.

The new financial split/ownership slice was now as follows: Deborah Harry 30%; John Waters 30%; Jim Crockett 18.5%; Bill Watts 18.5 %; Jerry Jarrett 3 %.

VERNE GAGNE'S HOME - LAKE MINNETONKA, MN

Verne Gagne was sitting in his home office doing some reading when the phone rang. Verne's wife, Mary, picked up.

Verne heard Mary coming down the hall.

Mary: Verne, Ron DeSantis is on the phone.

Verne picked up the phone in his office.

Verne: Hello, Ron.

Ron: Hi, Verne. How are you today?

Verne: Good, Good. Yourself?

Ron: Can't complain.

Verne: What can I do for you?

Ron: Well, there was a misunderstanding on my part about part of the offer Tribune Media was making to you.

Verne sat back in his chair.

Verne: What is it?

Ron: The contracts that Tribune wants to tender to you and your son are three-year deals, but only the first year is guaranteed.

We would re-visit the contracts each of the next two years to see where Tribune wanted to go from there.

Verne: So, Greg and I could be released from our deals after the first year is up?

Ron: You could. Or, you could see a contract extension and/or pay raise.

Verne: Or pay cut.

Ron: That would also be on the table.

But, Verne, I just ask that you to please look at the totality of the deal.

This is still a fantastic deal for you. And there's a really good chance you and Greg will get extended for the entire three-year duration of the contracts.

Verne was despondent.

Verne: Give me a little time to think about it.

Ron: Okay, Verne.

I just felt it important to be up front with you about the matter. Did not want to drop any bombs on you.

Verne: Appreciate you letting me know, Ron.

Ron: Take care, Verne.

Verne: Bye, Ron.

**************************************************

Later that night...

Verne was sitting on the side of the bed when Mary walked out of the bathroom.

Mary came and sat down next to her husband.

Mary: Verne, you've hardly spoken this evening since that call with DeSantis. Please tell me what's bothering you?

Verne let out a sigh.

Verne: Ron DeSantis from Tribune Media called me today.

Mary: And?

Verne: He said that the contracts for Greg and I, while three years each, were only guaranteed for the first year. They would re-visit the contracts after each year we were there and make a decision on our future.

Mary: Maybe there's a message here, hon.

Verne: What is it?

Mary: Maybe it's a sign that it's time to slow down and step aside. You've given your life to this business non-stop since 1947. That's 42 years, Verne.

Maybe it's time to stop and smell the flowers.

Verne: I know. And you're probably right. But it's hard just to talk away.

I mean, if Tribune dropped Greg and I after one year that would cost us, combined, $1 million dollars in the deal.

Mary: Look, I've stuck with you this long in this crazy business. I'll support whatever you want to do.

Mary took Verne's hand and held it gently in hers.

Mary: Either way you go, just make sure you're making a sound, reasonable decision.

Verne placed his arm around his wife's shoulder and the two sat there quietly.

The reality was that Verne was prepared, after what would have most likely been just a going-through-the-motions meeting with 'Team Blondie', to accept Tribune's offer.

Now, the winds were swirling again.

Everything was up in the air once more.

Which way does Verne turn?

STAY TUNED...

[Captain Kremmen]

HAPPY THANKSGIVING!

Enjoy Steamboat vs. Tully from Starrcade '84!

Also, don't forget to watch the Grey Cup next year! CFL's good football! 😀

[Captain Kremmen]

NOVEMBER 1989

 

AWA HQ - ST. LOUIS PARK, MN

 

Verne Gagne was working in his office when his secretary buzzed him and let him know Jim Crockett was on line 1.

 

Verne picked up the horn.

 

Verne: Hey, Jim!

 

Jim: Hello, Verne.

 

I'm calling to see how things are going with Tribune Media and to see if we can set up a meeting again very soon to discuss a possible deal.

 

Verne: Well, Jim, short and sweet, I'm still talking with Tribune and yes, I would like to set up a meeting with the four of you again.

 

Jim: That sounds good. Deborh, John and Bill are looking forward to meeting with you again.

 

And I have one more bit of news for you.

 

Verne: What's that?

 

Jim: We've brought in a fifth potential buyer.

 

Verne: Who is it?

 

Jim: Jerry Jarrett.

 

Verne: OK.

 

Jim: With Jarrett on board we can up our offer. We'll let you know the amount when we meet.

 

Verne: St. Louis one more time?

 

Jim: I'm on board and I think the others will be, too.

 

Verne: Well, check with them and get back to me.

 

Jim: Can I ask how close you are to a deal one way or the other.

 

Verne: Very close no matter which way things go.

 

Jim: Just glad we're still in the running.

 

Verne: You're very much in it.

 

Jim: Talk with you soon, Verne.

 

Verne: OK. Bye, Jim.

 

The hour of decision was now very near.

 

Will it be Tribune Media or Team Blondie as the next AWA owners?

 

STAY TUNED...

[Captain Kremmen]

NOVEMBER 1989

 

AWA HQ - ST. LOUIS PARK, MN

 

Verne Gagne had talked with Team Blondie (including Jerry Jarrett). All parties were in agreement to meet in three days in St. Louis at the Mayflower Hotel for lunch to further discuss a possible deal.

 

The thought of Verne trying to continue to run the show on his own had fallen by the wayside, replced by the harsh reality of pro wrestling economics.

 

But Verne had one thing to do before then...

 

Verne picked up the phone and dialed.

 

After two rings...

 

Secretary: Good afternon. Tribune Media. How may I direct your call?

 

Verne: Ron DeSantis, please.

 

Secretary: May I ask who is calling?

 

Verne: Verne Gagne.

 

Secretary: One moment.

 

Verne was very briefly put on hold.

 

Ron: Hey, Verne! Ready to do some business?

 

Verne: I am.

 

Ron: Great!

 

With that, the turning point conversation began between Tribune Media and Verne Gagne.

 

Was Verne going to accept their offer and make the St. Louis meeting moot?

 

Or would the meeting in the Lou be the deciding factor?

 

STAY TUNED...

[Captain Kremmen]

NOVEMBER 1989

VERNE GAGNE'S HOME ON LAKE MINNETONKA, MN

Greg Gagne had just arrived at the home of his parents and went upstairs to their bedroom where Verne was packing.

Greg: Dad, we've got to get moving. Got a plane to catch.

Verne: I'm packing. I'm packing.

Greg: What are you going to tell them when we get to St. Louis?

Verne: I'll just be blunt and tell them the truth.

Greg: Sure you want to handle it like that?

Verne: Why lead them on?

Greg: You've got a point. Just don't drop the news like a sledgehammer.

Verne: Makes you wonder why we're even making the trip. Could just as easily called them all.

Greg: Face-to-face is better. Just makes it more personal.

Verne: You're right.

Greg: Tribune drives a hard bargain.

Verne: That DeSantis guy is one hell of a salesman. He's great on the close.

Greg: Well, off to St. Louis to deliver the news.

Verne: Yep. Let's go, son.

Verne and Greg left the house, jumped in Greg's car and headed to the airport to catch a flight to St. Louis.

The long, winding journey would finally end in St. Louis.

STAY TUNED...

 

 

.

 

 

 

[Captain Kremmen]

NOVEMBER 1989

 

AL'S RESTAURANT - ST. LOUIS, MO

 

Verne Gagne and son Greg and 'Team Blondie' had all arrived at Al's Restaurant, a famous steakhouse in St. Louis, for their 6pm dinner reservation. The group originally intended to meet for lunch but Jarrett wasn't arriving from Memphis until mid-afternoon so they pushed the meeting to a dinner instead.

 

The group entered the restaurant and Verne Gagne slipped the host a $100 bill to get a table in the back corner so the group could discuss business without being disturbed.

 

The group was seated at the table of their choice and had lively, casual conversation with each other.

 

They dined on fresh salads, prime steaks, some also had lobster tails with drawn butter, baked or mashed potatoes, cooked vegetables and added a few adult beverages to the mix. For dessert: homemade cinnamon, spumoni or vanilla ice cream, chocolate fudge cake or bananas foster.

 

The enjoyable conversation continued through dinner.

 

When dinner was over and the plates had been cleared away, the group sat around sipping their beverages when Verne shifted the evening's tone.

 

Verne: You ready to talk some business?

 

The group agreed.

 

Verne: What do you guys have as an offer?

 

Jim Crockett spoke up.

 

Jim: Yes. With Jerry Jarrett coming on board with our team, the offer is now $3.5 million.

 

Verne: How much you in for, Jerry?

 

Jerry: 3% of the company.

 

Verne: I see two very capable bookers at this table.

 

Bill: I would be the booker, Verne.

 

Verne: How would you book the AWA, Bill?

 

Bill: I would book the AWA much like I booked Mid-South. I would present an athletic, realistic style and would add a few more angles to the mix.

 

Verne nodded in the affirmative.

 

Verne: Blood?

 

Bill (chuckled): Come on now, Verne. You know me. Blood when I feel it necessary for TV and at the houses.

 

Verne: John and Deborah, what is your top priority, besides making money, if you buy the AWA?

 

John Waters: Well, our goal is to give the fans a true alternative to the WWF. We want to present wrestling with wrestling fans in mind.

 

Deborah Harry: We think fans want a real choice. Competition is good.

 

Verne: Competition can help keep you sharp. No competition and lazy booking can set in.

 

Jim: With Bill as booker, lazy booking is the last thing you'll need to worry about.

 

Everyone shared a laugh.

 

Verne: Jerry, what are you gonna be doing to earn your 3%?

 

Jerry: I'm gonna be the silent partner.

 

Verne: You gonna take a front office job and move to Minneapolis?

 

Jerry: Hell will freeze over before that happens, my friend.

 

I'm not moving anywhere where it gets so cold my nuts can freeze and break off.

 

More laughter.

 

Verne: Jim, you're gonna be the promoter?

 

Jim: My job will simply be to make sure the trains run on time.

 

Verne: Do any of you think that you will compromise the wrestling part of the AWA  for 'sports entertainment'-type promotion?

 

Bill: The AWA's in very good hands if we buy it, Verne. It will remain a wrestling company first, last and always.

 

Jim: But that doesn't mean we won't try and branch out with merchandising and possible TV deals and such.

 

But what will be presented on TV and in the arenas will be a wrestling product and not a 'sports entertainment' one.

 

Verne: What about national expansion?

 

Deb: We talked with Bill and Jim about it since they are the go-to wrestling guys. Right now, we feel it's important to concentrate on the territory we have right now and look to expand gradually from there. But that's a discussion for some point down the road. We look at it as building up our own houses first before moving into the houses of others.

 

Verne: Like that analogy, Deborah.

 

Deb smiled.

 

Deb: I like this wrestling talk stuff.

 

Everybody shared a light-hearted laugh.

 

Verne: I like what I'm hearing from you guys.

But you do know I have another offer on the table from Tribune Media.

I talked to Ron DeSantis the other day.

 

Jerry: Ron DeSantis? Sounds like a politician.

 

More laughter.

 

John: What did he say?

 

Verne: Well, Tribune's not only offered to pay us $36,000 a month and cover production costs for AWA Championship Wrestling on cable; they've now offered us $20,000 a month and to cover production costs for our syndicated show All-Star Wrestling.

 

Suddenly, the frivolity of the evening dissipated into thin air.

 

Deb: That's not something our group could do, Verne.

 

Verne: I understand that.

 

The waitress brought the check.

 

Verne: I've got this.

 

The group thanked Verne.

 

Bill (jokingly): Jerry, you gonna leave a tip? Make it a good one.

 

Jarrett glared over at Bill.

 

Verne: Are any of you leaving tonight?

 

All were staying overnight.

 

Verne: What time do you all leave tomorrow?

 

Deb and John said they left in the afternoon. Watts and Crockett were due to leave in the morning. Jarrett drove and could leave anytime.

 

Verne: Bill and Jim. Any chance you guys could bump your flights up to the afternoon?

 

Bill: I'll do it.

 

Jim: I will, too.

 

Verne: Greg and I are due to leave in the afternoon as well. Why don't we meet in the airport lounge tomorrow. I'll sleep on it and give you all a final answer tomorrow.

 

All parties were in agreement.

 

The final chapter of The Great AWA Sale was about to be written.

 

STAY TUNED...

[Captain Kremmen]

NOVEMBER 1989

 

AIRPORT LOUNGE - ST. LOUIS, MO

 

The dignitaries were gathered...

 

Team Blondie and Verne and Greg Gagne were all seated in the lounge.

 

The group ordered some adult beverages and made casual conversation.

 

The talk and light drinking continued.

 

Verne: Well, I had a night to sleep on it and I've made my decision.

 

First, I do want to let you know that I had a conversation with Ron DeSantis of Tribune Media last night after our dinner meeting.

 

Deborah Harry: How did it go?

 

Verne: Well, he made the same offer to me that he has been on behalf of Tribune.

 

We had a good conversation. Tribune has made a strong play for buying the AWA all along.

 

The TV part of the deal they offered was really hard to say no to.

 

So, Deborah, John, Jim, Bill and Jerry...

 

...you have a deal.

 

Momentary stunned silence.

 

John Waters: Did I hear you right, Verne? We have a deal?

 

Verne: Your ears did not deceive you, John.

 

Your team has the deal.

 

Bill: Hot damn!

 

Watts lightly pounded the table with his open hand.

 

Jim: Was beginning to think you were about to let us down gently, Verne. Nice swerve.

 

Verne: The more I thought about it, the more I liked the team assembled here in front of me.

 

John and Deborah, I was sold on your commitment to keeping the AWA a wrestling-first promotion.

 

And you've got good wrestling people working for you in Jim, Bill and Jerry.

 

John: And the wrestling people will be running the show.

 

Verne: One big negative in my eyes with Tribune is it's a big business empire. It had the stench of corporate all over it. In my eyes, pro wrestling is not corporate. There would have been way too many fingers in the pie; too many bosses who didn't know wrestling thinking they knew how to run a wrestling promotion because they used to watch it on TV or read the f-ucking Observer.

 

Plus, after several conversations with my wife, I decided it was time, after 42 years, to step aside and let some new blood step in and take the reigns. It was time to relax and smell the flowers.

 

With Tribune, I'd still have been charge. But I've had enough with the day-to-day operations.

 

Being a consultant will keep me in the game. Just not at the level I have been all these years.

 

Be nice to finally be the one watching on TV and saying: Why the hell did they do that?!

 

Everyone laughed.

 

Jerry: I think you'll be happy with how we handle your creation.

 

Verne: I'm confident in you guys.

 

John: Just how hard was it to walk away from the Tribune TV money?

 

Verne: Very hard. That was the main issue for me. I went back and forth in my mind a million times about it.

 

Ron was very gracious when I told him my decision.

 

Bill: How long are you gonna stay on as the boss?

 

Verne: We'll hash that out in a future meeting. But it won't be long. I'll be the big cheese for just a little while longer.

 

Deb: Thank you, Verne.

 

Verne: My pleasure. I feel the AWA is gonna be in good hands.

 

John: Well, I guess the next thing is going to be getting the sale in order, sign the deal and announce it to the press.

 

Jim: You've left us with a pretty good base to build on, Verne. There's some good talent  here.

 

Verne: And now the AWA has some real money behind it to build on.

 

Deb stood up and raised her glass.

 

Deb: A toast.

 

Everyone grabbed their glasses and stood up.

 

Deb: To Verne Gagne. For all he has meant to this business and especially the AWA.

 

Group said: Here! Here! To Verne Gagne!

 

The group clinked their glasses together and took a drink.

 

The months of waiting and wondering were finally over.

 

From receiving a low-ball offer from radio magnate and the owner of MLB's Seattle Mariners Jeff Smulyan for less than $2 million.

 

From receiving an offer of almost $3 million from businessman and the NHL's Winnipeg Jets' owner Barry Shenkarow that Verne was prepared to accept until Shenkarow unveiled his garish and cartoonish plans for the promotion.

 

From selling the company to SF Giants owner Bob Lurie for just under $3 million and holding a press conference to announce the sale and then Lurie dying unexpectedly and the deal being rendered null and void.

 

From considering trying to find a financial backer with Verne still at the helm with a much needed cash infusion to make the AWA a competitor once again.

 

From Deborah Harry and John Waters looking to buy the AWA.

 

From Jim Crockett looking to buy the promotion.

 

From WWF boss Vince McMahon trying to swoop in and buy the AWA in an effort to thwart a big money investor group coming in and taking it over and Verne instead thwarting Vince.

 

From Crockett bringing in Bill Watts and looking to either buy the promotion themselves and ultimately teaming up with John Waters and Deborah Harry, and bringing in Jerry Jarrett late in the game, to put on a full-court press in a last-ditch effort to buy the AWA.

 

From Tribune Media making Verne the biggest offer he got for the promotion and Verne subsequently turning it down.

 

And Verne finally settling on 'Team Blondie' as the next owners of a promotion he had built from the ground up.

 

It was all finally over.

 

And Verne Gagne was $3.5 million dollars richer and ready to ride off into the sunset.

 

A new era was about to begin in the AWA.

 

COMING UP...

 

The transition and new AWA programming.

Edited December 7, 2022 by piperrulz

[smartman]

Okay, it was the Team Blondie name that decided it, wasn't it? Wondering how long it'll be until JYD is the AWA World Champ with Watts booking. I'm not sure how long you're going to run this out, but Flair jumping to the AWA because of Crockett instead of his ill-fated WWF run would be a massive boost for the company. Wonder how the TV negotiations are going to go now that Tribune is likely a little sore? Guess we'll all find out soon enough. This diary has been so fun to read.

[Old School Fan]

19 hours ago, piperrulz said:

The group clinked their glasses together and took a drink.

 

 

The months of waiting and wondering were finally over.

 

 

From receiving a low-ball offer from radio magnate and the owner of MLB's Seattle Mariners Jeff Smulyan for less than $2 million.

 

From receiving an offer of almost $3 million from businessman and the NHL's Winnipeg Jets' owner Barry Shenkarow that Verne was prepared to accept until Shenkarow unveiled his garish and cartoonish plans for the promotion.

 

From selling the company to SF Giants owner Bob Lurie for just under $3 million and holding a press conference to announce the sale and then Lurie dying unexpectedly and the deal being rendered null and void.

 

From considering trying to find a financial backer with Verne still at the helm with a much needed cash infusion to make the AWA a competitor once again.

 

From Deborah Harry and John Waters looking to buy the AWA.

 

From Jim Crockett looking to buy the promotion.

 

From WWF boss Vince McMahon trying to swoop in and buy the AWA in an effort to thwart a big money investor group coming in and taking it over and Verne instead thwarting Vince.

 

From Crockett bringing in Bill Watts and looking to either buy the promotion themselves and ultimately teaming up with John Waters and Deborah Harry, and bringing in Jerry Jarrett late in the game, to put on a full-court press in a last-ditch effort to buy the AWA.

 

From Tribune Media making Verne the biggest offer he got for the promotion and Verne subsequently turning it down.

 

And Verne finally settling on 'Team Blondie' as the next owners of a promotion he had built from the ground up.

 

It was all finally over.

 

And Verne Gagne was $3.5 million dollars richer and ready to ride off into the sunset.

 

A new era was about to begin in the AWA.

Exactly what I wanted to see happen (and what could've happened IRL had Verne thought to sell to someone [not Vince] who would've committed to keeping wrestling front and center while rebuilding the company and raising it back to its glory days level - but as the old saying goes, hindsight is always 20/20 and speculating "what if..." is all we can do).

[Captain Kremmen]

21 hours ago, smartman said:

Okay, it was the Team Blondie name that decided it, wasn't it? Wondering how long it'll be until JYD is the AWA World Champ with Watts booking. I'm not sure how long you're going to run this out, but Flair jumping to the AWA because of Crockett instead of his ill-fated WWF run would be a massive boost for the company. Wonder how the TV negotiations are going to go now that Tribune is likely a little sore? Guess we'll all find out soon enough. This diary has been so fun to read.

Thanx for the comments.

You don't have to worry about JYD being anywhere near the AWA even with Watts on board! 🙂 ESPN will sit up and take notice of the new owners. The name was catchy, but I was just too lazy to write out all their names on many occasions

Glad you're enjoying it. This will continue,

 

2 hours ago, Old School Fan said:

Exactly what I wanted to see happen (and what could've happened IRL had Verne thought to sell to someone [not Vince] who would've committed to keeping wrestling front and center while rebuilding the company and raising it back to its glory days level - but as the old saying goes, hindsight is always 20/20 and speculating "what if..." is all we can do).

When I started this 3 years ago, Waters and Harry were my buyers.

All the twists and turns that happened with other potential buyers was stuff made up on the fly. Ideas would pop into my head and I would just run with them,

There had to be someone out there willing, IRL, to take a chance on the AWA in the mid to late '80s not named Vince. Verne just didn't find them.  That would have been perfect for Watts and Crockett to buy in 89/90. Probably could have gotten it for a steal (around $1-$1.5 mil?).

Thanx for the comments.

 

Edited December 8, 2022 by piperrulz

[Captain Kremmen]

NEW AWA CO-OWNER DEBORAH HARRY AND FRIENDS!!!

 

Pictured w/ Harry: Lou Albano (L), Jimmy Valiant (B) & Andre (R)

 

[smartman]

Thanks for nothing Wikipedia. Not a single mention of her height on the site. She's definitely taller than I thought she was.

[Captain Kremmen]

8 hours ago, smartman said:

Thanks for nothing Wikipedia. Not a single mention of her height on the site. She's definitely taller than I thought she was.

Looked it up. She's 5'3.

[Captain Kremmen]

LATE NOVEMBER 1989

 

The new owners of the AWA, had arrived back at their homes after the historic and exhilarating meeting with Verne Gagne where Gagne agreed to sell the legendary promotion to them that now was going to have to go through a re-building phase.

 

But Deborah Harry placed a call to John Waters because she had something else on her mind...

 

Harry called Waters and Waters' housekeeper picked up the phone.

 

HK: Hello. Waters residence.

 

Deb: Hi, love. Is John available?

 

HK: Hi, Deborah. He's here. Let me get him.

 

Harry waited for a minute or two before Waters picked up the phone.

 

Waters: Hello, Ms. AWA owner.

 

Deb: Hello, Mr. AWA owner.

 

Isn't this great?!

 

Waters: I'm really looking forward to it.

 

Ever think you'd own a wrestling promotion?

 

Deb: Not in 10 lifetimes would I have ever thought I'd be in the wrestling game.

 

Waters: What did you need, hon?

 

Deb: Just wanted to say that I think when we take control of the AWA we need to look at re-locating the AWA offices to a warmer climate.

 

Waters: We've touched on this before. And I'm right there with you. Those Minnesota winters can be brutal.

 

Deb: I think placing our offices in another city will appeal to some wrestlers we might try and sign.

 

Waters: I'm right on board with you.

 

Deb: We should meet some time before Christmas to start putting together a moving strategy.

 

Waters: You got any cities in mind right now?

 

Deb: Two cities I was already thinking of were L.A. and Vegas.

 

Waters: I like your thinking, young lady.

 

Vegas would be my #1 choice since the monthly ESPN tapings take place there.

 

Deb: When we start growing, we might outgrow the Showboat if we start drawing huge crowds.

 

Waters: That's something we can discuss at a later date. But I think it needs to happen. And you know the wrestlers would love Vegas, or L.A. for that matter, as a home base.

 

Deb: Be a great selling point.

 

Waters: Well, let's think about this and discuss it soon.

 

Deb: Will do. I'm so excited right now. I feel like I'm floating on air.

 

The AWA: Presented by a Hollywood director and a rock star.

 

Waters: Love the sound of it.

 

Deb: I really think over time we can beat Vince McMahon.

 

Waters: Let's not get ahead of ourselves. That will be a steep climb. But the thought is exciting to say the least.

 

Deb: Just wanted to touch base with you on that.

 

Talk to you later, hon.

 

Waters: OK. It's a good way to kick things off.

 

Talk to you later.

 

The two owners, who will own 60% of the company when the sale is completed, are going to fire their first shot in the wrestling war very soon.

 

The re-making of the AWA had begun.

 

STAY TUNED...

[DHK1989]

Moving the AWA offices? Uh oh...

[smartman]

How big were her heels in that Valiant pic? And already moving the HQ? Interesting. They're still going to have to run the shows in the states in and around MN to even hope of turning a profit anytime soon.