AWA 1989: A Financial Savior Is (Badly) Needed

[DHK1989]

The plot thickens.

[Old School Fan]

With Tribune Media now getting involved, business is definitely going to pick up - watch out, Vince!  😎

[Captain Kremmen]

LATE OCTOBER 1989

JIM CROCKETT'S HOME - CHARLOTTE, NC

The clock was ticking...

Jim Crockett picked up the phone and called Bill Watts.

The phone rang three times.

Jim: Pick up, Bill.

After ring five...

Bill: Hello.

Jim: Bill, this is Jim.

Bill: Hey, Jim! This about business?

Jim: It is. We're really up against it right now.

Bill: OK.

Jim: Just want to make sure you're in on a deal to buy the AWA.

Bill: Sure am. Let's do business if possible. Still looking at partnering with John Waters and Deborah Harry?

Jim: That would be preferred. But if we have to go it alone...

Bill: I'm all in on you contacting those two and seeing if we can set up some sort of conference call.

Jim: I'll go ahead and and contact Waters then.

Bill: Do it and get back to me.

Jim: Alright. I'm calling them today.

Bill: Talk to you later.

Jim: OK. Bye.

Bill: Bye, Jim.

LATER THAT DAY...

Crockett picked up the phone and dialed the Baltimore number of John Waters.

After two rings, a woman picked up the phone.

Woman: Hello.

Jim: Yes. May I speak to John Waters, please.

Woman: May I ask who is calling?

Jim: Name's Jim Crockett.

Woman: Oh! The wrestling guy!

Crockett chuckled.

Jim: Yes. That's me.

Woman: He's been talking about wanting to buy a wrestling promotion a lot recently.

Jim: We are looking at doing business together.

Woman: I'll get him.

After a brief pause...

Waters: Hello, Jim.

Jim: Hello, John. How are you?

Waters: Just fine. Yourself?

Jim: Can't complain. Things are going pretty good.

Waters: So, can I ask who this person is you talked to about going in on the deal to buy the AWA?

Jim: His name's Bill Watts. He used to own Mid-South Wrestling which later became the Universal Wrestling Federation.

Waters: Mid-South Wrestling sounds familiar. Wait! Didn't they air a short time on WTBS a few years ago?

Jim: They did. And they were really popular with the fans. Fans liked their style of wrestling. Bill was the anti-Vince, if you will.

Watts has a great wrestling mind. If we purchase the AWA, he's the guy who would directly run the wrestling side of things. He would put together the television shows and match-ups. He's razor sharp.

The main reason I'm calling is to see if Bill and I could set up a conference call with you and Deborah.

Waters: Sounds good to me, Jim. I'll get in touch with Deb and see when we can do the call.

Jim: Just remember that time is not on our side right now. We need to try and put something together and fast with Vince McMahon breathing down our necks.

Waters: Let me call Deb and see when we can set up the call.

Jim: Thank you, John.

Waters: I'll get back to you real soon, Jim.

Jim: Looking forward to hearing from you.

Waters: Bye, Jim.

Jim: Take care.

LATER...THAT SAME EVENING***...

Crockett called Watts once again.

After three rings.

Bill: Hello.

Jim: Hey, Bill.

Bill: Hi, Jim. What's the word?

Jim: Called Waters and he's gonna talk to Deborah Harry and look to set up a conference call with us.

Bill: Sounds good. Did you guys talk money?

Jim: No. We can do that on the call with them.

Bill: Well...hot damn! Let's see if we can put a deal together that appeals to Verne.

Jim: OK. Give you the details on the conference call when I get them from John.

Bill: Talk with you then, Jim.

Jim: Before I go, it sounds like you're eating something crunchy.

Bill: Yup! Cutting my toenails and eating pistachios.

Jim: Sounds delightful...and sanitary!

Bill (laughing): Yummmmmmmmmmmmmmmmm...

Crockett laughed.

Jim: Bye.

Bill: Later.

Everything was starting to come together on all fronts at a rapid pace. Which way will Verne go?

STAY TUNED...

(*** Later, That Same Evening was a classic Jethro Tull song from the '80s.)

[Old School Fan]

1 hour ago, piperrulz said:

(*** Later, That Same Evening was a classic Jethro Tull song from the '80s.)

Wow, JT in the '80s (listening now as I type this)...  Priceless to hear them get with that time.  😎

[Captain Kremmen]

10 hours ago, Old School Fan said:

Wow, JT in the '80s (listening now as I type this)...  Priceless to hear them get with that time.  😎

I liked there 80s sound myself. Some Tull fans thought it was a sellout. They did not like it.

On 10/28/2022 at 3:37 PM, Old School Fan said:

With Tribune Media now getting involved, business is definitely going to pick up - watch out, Vince!  😎

The layers are gonna be stripped away pretty quickly. We'll have a decision real soon!

Tribune getting involved does make it more interesting. They had a lot more money to piss with than even Vince at this time.

[Captain Kremmen]

On 10/27/2022 at 4:15 PM, DHK1989 said:

The plot thickens.

It's gotten real thick! A publishing powerhouse who own lots of things would make Vince squirm.

But we already saw what a corporation did to WCW in the early 90s...

[Captain Kremmen]

LATE OCTOBER 1989

AWA HQ - ST. LOUIS PARK, MN

AWA boss Verne Gagne had just arrived in his office on a chilly late October morning.

After checking his phone messages, reading some notes left for him and perusing the sports section of the Minneapolis Star-Tribune, Verne pulled the paper with the number on it out of his breast pocket.

He was about to make the call...

Verne dialed the number and waited.

After six rings...

Secretary: Tribune Media Company Public Relations. How may I direct your call?

Verne: May I speak to Ron DeSantis, please?

Secretary: One moment.

Verne was put on hold and got to enjoy some hold music.

Ron: Verne! How are you?!

Verne: Is this Ron Desantis?

Ron: It is. Nice to talk with you.

Verne: Good talking to you as well.

My son Greg gave me your number and said Tribune was interested in talking with us about buying the AWA.

Ron: They are very, very interested in buying the AWA. They feel it would be a great addition to the company portfolio.

Verne: This whole thing came out of the blue.

Does the company have an offer in mind or are we in a feeling out process right now?

Ron: Oh! The company has an offer for you.

And here it is...

Verne: I'm listening.

Ron: OK.

The offer is...for everything: any wrestler contracts, TV deals, merchandise contracts, etc.

The offer is $2.5 million!

Verne: $2.5 mil... Ron, I gotta tell ya, I've got two offers bigger than that already on the table.

Ron: Well...I haven't finished with the offer yet, Verne.

There's something else to this deal.

Verne: What?

Ron: We'd like you to stay on and run things. You'd be the President of the company. You'd still make all the wrestling decisions. You'd choose who to hire and who to fire. You'd be responsible for all AWA TV shows and arena shows.

It would be your name on the business cards.

Verne: Are we talking about this being an open checkbook situation with Tribune?

Ron: In some cases, yes. It would be your call as to what to do in certain instances.

But, some things would have to go through the Tribune Company before knowing if they would or wouldn't sign off on what you wanted to do.

For instance, if you wanted to sign a wrestler who could be a high-priced item, that would have to be discussed with some of the higher ups.

Verne: Are you talking about guaranteed contracts here? That's not how business is usually conducted in wrestling.

Ron: Verne, guaranteed contracts will become the wave of the future in wrestling. I truly believe that.

Verne: But how do you know that?

Ron: With wrestling going national thanks to the cable explosion of the last decade, that means more revenue rolls in. And with the significantly expanded revenue will come the opportunity to pay out guaranteed contracts to the wrestlers. It also means you'll have a guy for however many years you sign them for.

You sign, say, Ric Flair for three years, then you have him for three years at a guaranteed money rate!

Verne: But the wrestling business has peaks and valleys. You're not always going to be pulling in the higher amounts of revenue.

Ron: Understood. But if the AWA is owned by Tribune Media then you will have the deep pockets to survive downturns in business.

Plus, there will be other sources of revenue to tap other than the arena shows themselves. We know you do merchandise, Verne. But we can take merchandise sales to another stratosphere for you. We could get contracts to produce high end AWA videos, t-shirts, games, you name it.

The sky's the limit with Tribune, Verne. I mean that.

Verne: You paint a good picture, Ron. I like what I'm hearing. You guys see big picture and with Tribune's money and braintrust behind the AWA we could expand and really make a killing.

Ron: The bottom line is the bottom line, my friend.

And Verne, if you stayed on as President of the AWA, we'd give you a three-year guaranteed deal at $400,000 per year.

Verne: That does sound tempting.

Could I keep our base of operations in Minneapolis?

Ron: Can't see that being a problem.

Verne (sighs): Well, let me think about it for a few days. I've got some calls to make and I'll get back to you.

Ron: You do that, Verne.

And I hope you make the decision to make the AWA part of the Tribune Media Company family.

Gotta think big picture.

Verne: Thank you, Ron. Take care.

Ron: Talk to you soon, Verne.

Verne hung up the phone.

He now had another offer on the table.

And this one may be the best of all...

STAY TUNED...

[smartman]

It'd be fun for Tribune to buy the AWA and keep Verne on, but if there's a tiny shortlist of people worse than Vince, there's Ron.

[Captain Kremmen]

LATE OCTOBER 1989

CHARLOTTE, NC

The days were getting shorter and so was the time to make a decision on putting together an offer to buy the AWA from Verne.

Jim Crockett's phone rang twice.

Jim: Hello.

Waters: Hi, Jim. This is John Waters..

Jim: Hey, John. How's it hangin'?

John: As I get older it's hangin' a little lower.

Jim: What? Oh! I get it! Hahaha!

Waters: Just calling to let you know that I talked to Deb.

Jim: What did she say?

John: Can you and Bill do a conference call tomorrow afternoon?

I'm sure Bill will be OK with it. He's all in on trying to get a deal done and get back into the business.

John: Deb said she's free after 3pm tomorrow.

Jim: How about 4 o'clock then?

John: Sounds good. I'll call you tomorrow around that time or if something changes and we need to re-schedule.

Jim: Great! Talk with you then, John!

Waters: Bye, Jim.

Later that day...

Crockett called Watts and Watts was open to the conference call.

The quartet was close to putting something together to make an offer to Verne.

But would Vince or Tribune Media be too much to overcome?

The next day...

CONFERENCE CALL

The call was set up for 4pm and all parties were ready to go and on the line: Bill Watts, Jim Crockett, John Waters and Deborah Harry.

Deb: Hello, all.

The other three basically said 'hello' in unison.

Deb: Bill, nice to talk with you.

Bill: Nice to finally talk with you as well, Deborah.

John: Let's get this meeting started, shall we?

Jim: Ready to go.

John: Deborah and I have come up with an offer we wish to make to Verne. If you feel you have anything you could add to it, feel free to pipe up.

Bill: I will. Believe me. I will.

Everyone laughed.

Jim: What's the deal you've come up with?

John: You want to tell them, Deb?

Deb: Sure, John.

Well, guys, here it is.

First, John and I want to be the majority owners of the company.

Bill: What kind of a split are we looking at?

Deb: 60/40. John and I would each own 30 percent and you two would own 40 percent.

Jim: So it breaks down to you and John owning 30 percent each and Bill and I owning 20 percent each?

Deb: Yes.

And the financial deal we'll be offering is $3.2 million dollars.

Watts: Wait. Doesn't McMahon have a bigger offer on the table?

John: He does. But we're trying to appeal to Verne with the pitch that we'll keep it a wrestling-centric promotion and look to be the true alternative to the WWF. We think Vince could always outbid us. But we know Verne doesn't want the AWA turned into an entertainment comedy act. That seems to be his concern with selling to Vince McMahon. Verne thinks his entire legacy would go up in smoke if he sold the AWA to him.

Jim: Is there anything else that comes with the deal?

Deb: Yes. We'd like you two to run the company.

Bill: I like the sound of that! Really like it!

Jim: Does have a nice ring to it.

John: We would want Jim to be the president of the AWA.

Bill, you would run the wrestling side of things.

Now, we'd all have to reach a certain consenus on the purchase of talent and certain things done on TV.

But other than that it's all yours to run.

Jim: Quick question.

What's your take on blood?

Deb: Blood's a part of the sport. It needs to be used for dramatic purposes.

Just don't get carried away with it on TV.

Bill: Deborah, I like you more and more!

Deb: Hahaha!

John: We're also looking at getting the syndicated show All-Star Wrestling on a cable network to expand it's viewership on a national level.

Bill: Might be a good idea to keep Verne on even after the company has been, hopefully, turned over to us, to help with the transition.

John: I'd say we both agree with that.

Deb: Agreed. I'm all in.

Jim: Like the deal you have come up with,

Bill: I agree with Jim. Let's make the pitch to Verne as soon as possible.

John: Jim and Bill. We were wondering, since you two are the wrestling guys, if one of you could call Verne to set up a meeting.

Jim: I still have a little heat with Verne from the Pro Wrestling USA fiasco.

Bill, can you make the call?

Bill: Consider it done.

Waters: Great!

Deb: Fantastic!

Watts: Outstanding! I'll call Verne and set things up.

John: Looking forward to your call, Bill.

Deb: I think we can pull this off! I really do!

Jim: John and Deborah, your positive attitude on this has given me real optimism.

Bill: Let's get it done!

The four said their goodbyes and went their separate ways for now.

Would the offer be enough for Verne to turn down Vince or Tribune Media?

Only time would tell.

But time was running out...

STAY TUNED...

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Edited November 2, 2022 by piperrulz

[Captain Kremmen]

LATE OCTOBER 1989

AWA HQ - ST. LOUIS PARK, MN

The phone rang at the AWA offices and the secretary picked up.

Secretary: American Wrestling Association. This is Sally Hardesty speaking. How may I help you?

Male voice: May I speak to Verne Gagne, please.

Secretary: May I ask who's calling?

Male: Bill Watts.

Secretary: Please hold.

Bill: Hey! Wait a minute!

You're name is Sally Hardesty, right?

Secretary: Yes.

Bill: You won't believe this. I knew you when you were a kid.

Secretary: You did?

Bill: Think you had a brother named Franklin.

Secretary: That's correct.

Bill: How's he doing?

Secretary: He's dead, unfortunately.

Bill: Sorry to hear that. Can I ask how he died?

Secretary (sadly): Chainsaw mishap.

Bill winced.

Secretary: Let me connect you.

Bill: OK.

Verne Gagne was sitting in his office doing some work when the intercom buzzed.

Verne: Yes.

Secretary: Bill Watts on line 2.

Verne picked up the phone.

Verne: Mr. Watts.

Bill: Mr. Gagne.

Verne: What can I do for you, Bill?

Bill: Well, Deborah Harry, John Waters, Jim Crockett and myself would like to set up a meeting with you to discuss possibly buying the AWA.

Verne: Sounds good. But it would have to happen quickly. Vince wants an answer by Halloween.

Bill: We understand that. We'd like it to be an in-person meeting. Would you like us to come to you?

Verne: We can try and meet somewhere that would be suitable for all of us.

Bill: Well, I was already thinking of a city. It's less than 1,000 miles from each of our locations. St. Louis.

Verne: That doesn't sound bad at all, Bill. We could book a conference room at a hotel and discuss business.

Bill: Hell's bells! Then let's book it! I'm sure Deborah, John and Jim would agree to it.

Verne: This thing is gonna have to take place in the next couple of days. We need to pick a day and make plans.

Bill: I'll contact the other three and get back to you later today.

Verne: Sounds real good, Bill.

Bill: Bye, Verne.

Verne never said a word to Bill about the Tribune Media Company offer. He was keeping it close to the vest.

Everything was rapidly starting to come together.

The hour of decision was much, much closer...

LATER THAT DAY...

Watts called Verne once more.

Verne was still in the office when the call came through.

Verne: Hey, Bill. What's the scoop?

Bill: St. Louis in two days, Verne. Jim, John and Deborah are all on board.

Verne: Sounds great.

You got a hotel picked out?

Bill: The Mayfair. I've already booked a conference room for us there.

Verne: Wow! Classy!

Better get to making travel arrangements.

Bill: See you in St. Louis, Verne!

Verne: See you there, Bill!

Two days...

And we're one giant step closer to the decision!

STAY TUNED...

[smartman]

Poor Sally. A little surprised at how cordial Verne and Jim are after that debacle and running their biggest event in Chicago, but they're both wrestling guys through and through. Can't wait for the epic conclusion of the sale. Hope you continue after the sale as it'll be interesting to see who gets brought in. Given what Herd does to WCW, I could see a lot of people there jumping at the chance to main event in the AWA.

[Theheel]

I’m behind and just read the WGN piece.  When I’ve had thoughts of doing a late 80’s AWA I’ve always had WGN and Eddie Einhorn as the key central pieces to the stor, trying to replicate the TBS- Ted Turner GCW efforts a decade plus earlier.

Edited November 3, 2022 by Theheel

[Captain Kremmen]

LATE OCTOBER 1989

MAYFAIR HOTEL CONFERENCE ROOM - ST. LOUIS, MO

It was two in the afternoon and AWA boss Verne Gagne, son Greg, Jim Crockett, Bill Watts, Deborah Harry and John Waters were assembled around a big conference table.

The parties all got the formalities out of the way and settled in to talk business.

Verne: Might as well get it out in the open. What's your offer?

John: Verne, it's $3.2 million.

Verne: $3.2, huh?

Deb: That's the best offer we could put together.

When we heard about Vince's offer, we knew we had to up ours considerably.

Verne: What was going to be your original offer?

Deb: $2.5 million.

Our original limit was $3 million max. But we knew we'd have to up it past that to compete with McMahon.

Bill: Verne, if you sell to us, we'd like to keep you on to help with the transition and act as a consultant.

We don't have a dollar amount about what we'd pay you for being a consultant; but it would be fair compensation.

Verne: There's something I need to tell you guys.

John: What is it?

Verne: I've had another offer.

An uncomfortable silence filled the room.

Jim: From who?

Verne: Tribune Media Company out of Chicago.

Gasps now filled the room where silence once was.

John: The company that owns the Chicago Tribune and the Chicago Cubs?

Verne: Yes.

John: Ouch.

Jim: If it comes down to a bidding war, there's no way any of us, including Vince, can compete with them financially.

Bill: Have they made you any sort of offer if I can ask?

Verne: They have. They've offered me $2.5 million for the company and a three-year position as president of the AWA, both on-screen and off.

Bill: What kind of money are they offering you to run the show?

Verne: It would be for $400 grand a year.

Waters whistled and sat back in his chair.

Jim: They're offering you more than anybody else and they can continue digging into their pockets to sweeten the pot if need be.

We're in a tough situation against that kind of financial clout, Verne.

Tribune even makes Vince look minor league.

Verne: Well, I want you guys to know that I still haven't made up my mind. There's more to this than money for me.

I've got to think carefully about who I sell to. I don't want the AWA turned into 'sports entertainment' with comedy skits and all that crap. But I also don't want it mismanaged by a large corporation.

John: We would compensate you well, Verne. But we couldn't do $400,000 a year on top of what we'd pay for the company.

Bill: Two days until Halloween. That's when McMahon wants a decision, right?

Verne: Yes.

Greg: Nothing will be decided until a decision is made on the WWF acquiring the AWA.

Jim: It's very simple, then. You sell to the WWF and it's over. You don't sell to them it comes down to us and Tribune Media.

Verne: Right. I don't forsee another offer coming. So, it would be down to Team Blondie and Tribune Media.

Everyone chuckled at the 'Team Blondie' reference.

Bill: Think of your legacy, Verne. You know what McMahon would do with the AWA. He might tell you otherwise, but his track record proves he would wreck it by WWF-ing it up.

Jim: I sold to Turner. The days of the mom and pop-owned major wrestling promotion are over. The jury is still out on what will happen with the NWA under corporate control. But I think a bureaucratic-run wrestling promotion could be problematic. Too many fingers in the pie.

I believe Deborah and John are committed to presenting AWA wrestling in a way that respects the sport. They will give the fans a true choice. Do they want the WWF style of wrestling? Or, do they want a more serious style of wrestling?

Deb: Verne, we are committed to keeping this a wrestling promotion. Fans will tune in to watch the AWA because they present a real alternative to the WWF.

John: The wrestling will be what the promotion is built around.

The fans want payoffs to feuds and title matches with good, hard-hitting wrestling action.

Bill: The WWF doesn't get very good live show reports. Fans complain the matches usually aren't very good and also most don't go more than eight or 10 minutes.

The fans want a match to tell a good, dramatic story. The AWA does that right now with Sarge-Lawler and DeBeers-Zenk. But we'll have an even bigger platform to present the AWA on if you sell to us.

John: Our goal is national expansion just like Vince and what Jim did with the NWA.

We've got the pieces in place at the top to, we believe, make this work.

Verne: Who will be the booker?

Bill: Me.

John: The booker? Explain, please.

Jim: Might as well start smartening them up since they might be in the business soon.

Bill: The booker is the guy who puts two wrestlers or tag teams together that he thinks the fans will want to pay their money to see fight.

Angles are created to generate interest in the match-ups.

Deb: Angles?

Bill: An angle is an incident or series of incidents, plus mic work, that airs on TV and attempts to make the fans want to see the match when it comes to their town. The booker puts all this together.

John: We're getting a nice little lesson in learning the inner workings.

Bill: If Verne sells to us, you'll get an even bigger wrestling education.

Verne: Well, I've said that I will be in touch with Vince in two days. Plus, we've got the Tribune Media matter as well.

Jim: Just looking into your crystal ball, Verne, do you think we have a realistic chance of buying?

Verne: All three interested parties have a chance at becoming the next owners of AWA. It's all still up in the air.

Deb: Well, that's a wrap.

Now...John and moi wanted to take you all out to dinner. How does a nice steak grab you?

Bill: Sounds great to me. I love meat!

Jim: I'm all in!

Verne: Be good to sit back and talk about something besides the wrestling business.

Jim: Are you saying you still don't want to argue over the actual gate of the first Super Clash a few years ago?

Verne: Nope. Just want to enjoy dinner.

But, the house was just over $200,000 dollars.

Jim: Looking forward to a great steak, myself.

And the house for the first Super Clash was actually around $275-280,000 dollars.

Bill: Please don't start this. Not tonight.

Let's make an agreement: all arguments about money and payouts are off the table this evening.

Jim: Agreed.

Verne hesitated.

Bill: Verne?

Verne: OK.

But it was still $200.

Jim: $280.

Verne: Oh! Shut up!

Jim: I'll shut up if you agree that it was $280.

Verne: Let's go to dinner.

Waters quickly stood up.

Waters: To the Tenderloin Room it is!

Deb: We have a limo waiting for us outside.

The group filed out of the conference room and headed down the elevator to the front entrance where a stretch limo waiting to whisk them away for exquisite steak dinners.

But would this be the last supper for Jim, Bill, Deb and John with Verne?

STAY TUNED...

[Captain Kremmen]

On 11/2/2022 at 4:58 PM, smartman said:

Poor Sally. A little surprised at how cordial Verne and Jim are after that debacle and running their biggest event in Chicago, but they're both wrestling guys through and through. Can't wait for the epic conclusion of the sale. Hope you continue after the sale as it'll be interesting to see who gets brought in. Given what Herd does to WCW, I could see a lot of people there jumping at the chance to main event in the AWA.

Well, when there's money to be made, promoters and wrestlers have an uncanny knack for putting their differences aside. 😀 The end is very near. Hard to believe I started this over three years ago. I will be continuing after the sale.

On 11/3/2022 at 2:49 PM, Theheel said:

I’m behind and just read the WGN piece.  When I’ve had thoughts of doing a late 80’s AWA I’ve always had WGN and Eddie Einhorn as the key central pieces to the stor, trying to replicate the TBS- Ted Turner GCW efforts a decade plus earlier.

If you do it you've got a reader in me.

Edited November 5, 2022 by piperrulz

[Captain Kremmen]

OCTOBER 31, 1989

 

HALLOWEEN - HADDONFIELD, IL

 

Verne Gagne was in his office preparing to make the call that could decide the sale of the AWA once and for all.

 

Vince had given Verne until October 31 to accept his $3.5 million dollar offer for the company.

 

Verne dialed the WWF's Titan Towers HQ in Stamford, Connecticut.

 

After a couple of rings...

 

Secretary: World Wrestling Federation. How may I direct your call?

 

Verne: Vince McMahon, please.

 

Secretary: May I ask who is calling?

 

Verne: Verne Gagne.

 

Secretary: Oh! I was told to put you straight through. One moment.

 

Verne: Thank you.

 

Verne briefly listened to some phone music before Vince picked up.

 

Vince (upbeat): Hello, Verne.

 

Verne: Vince.

Vince: Well, the hour of decision is here, my friend.

 

Verne: It is.

 

Before we go any further, I do need to tell you that another potential buyer has entered the picture.

 

Vince: Who is it if I can ask?

 

Verne: It's Tribune Media Company.

 

Vince: The newspaper empire out of Chicago?!

 

Verne: That's the one. They own the Cubs and WGN, too.

 

Vince: Can I ask what their offer is? Is it comparable to mine?

 

Verne: Very comparable.

 

Vince: Is it more or less?

Verne: Just about the same.

 

Silence...

 

Vince: How about this? I buy the company and keep you on as a consultant?

 

Verne sat back in his chair. He wasn't expecting this curveball.

 

Verne: Can I ask what the salary would be?

 

Vince: Since the idea just came to me I'd need some time to think about it.

 

But, ballpark figure, probably $100-150,000 per.

 

Verne: How long would the contract be?

 

Suddenly there was dead silence on the phone.

 

Verne: Vince?

 

Vince: I've got a better idea!

 

Verne: What is it?

 

Vince: Get this, Verne.

 

Forget the consulting gig. I'll make you the on-air authority figure on AWA broadcasts and you will also run the wrestling side of things over there!

 

You'll be the booker!

 

Verne: What about when the promotions finally start crossing over with each other?

 

Vince: We'll work together on it, Verne.

 

I can see it now: The sports entertainment WWF vs. the traditional wrestling company the AWA!

 

The angles and match-ups we could create; all the wrestler intrigue! I bet we could get at least...at least...two years out of this and make a nice chunk of change in the process.

 

So, you'd be getting $3.5 million for the sale of company to me. And then who knows how much more on top of that, Verne.

 

Verne: You have one hell of a sales pitch, Vince.

 

Vince (conciliatory tone): Verne, I know you don't care for my presentation of pro wrestling. But this...this has the chance to be something really special.

 

Let me make  you more money than you ever dreamed of, Verne. It would set you up for one hell of a retirement.

 

Verne was suddenly even more intrigued (beguiled?) by the Vince sales pitch.

 

Verne: I can't give you an answer today then, Vince.

 

Vince: I know this is a lot to put on you. Tell you what. November 5^th will be the drop-dead date for a sale.

 

Think about it, Verne.

 

Tribune Media did not acquire all that wealth by reckless spending. And they're not going to spend any more on the AWA than they feel is necessary.

 

There's millions sitting on the table waiting for you, Verne.

 

All you have to do is shake my hand and sign the contract.

 

Verne: November 5th, right?

 

Vince: That is correct.

 

Verne: I will talk with you then, Vince.

 

Vince: Bye, Verne.

 

Verne hung up the phone and breathed a heavy sigh.

 

When he called, Verne was prepared to reject Vince's offer.

 

But Vince may have made Verne an offer the old man couldn't refuse.

 

Verne knew he couldn't trust McMahon when it came what Vince would do with the AWA once he bought it. Nor did Verne truly know what Vince would do with him.

 

But Vince's proposition was tempting.

 

Tempting like when the serpent beguiled Eve in the Garden and told her eating the fruit from the forbidden tree would make her like God but instead made her a fallen being and a mere mortal.

 

Would Verne heed the offer of the serpent and eat the apple from the forbidden tree? If so, would Verne's eyes then be opened to a harsh reality of what Vince really intended to do with the AWA?

 

STAY TUNED...

 

 

Edited November 7, 2022 by piperrulz

[Theheel]

Verne, maybe talk to Stu Hart about Vince and his deals.  Better be all cash up front and no installments.  Remember Verne this (McMahon) is the snake that crippled your company in the first place by buying Hogan and so much of your talent.  
 

is an extra $100k or so that important to you.  Or is preserving your and the AWA legacy more? Tell Vince to pound sand and go to Hell! Period!

[Captain Kremmen]

25 minutes ago, Theheel said:

Verne, maybe talk to Stu Hart about Vince and his deals.  Better be all cash up front and no installments.  Remember Verne this (McMahon) is the snake that crippled your company in the first place by buying Hogan and so much of your talent.  
 

is an extra $100k or so that important to you.  Or is preserving your and the AWA legacy more? Tell Vince to pound sand and go to Hell! Period!

But Vince said that Verne could make more money than Verne ever dreamed of.

What's not to trust from a wrestling promoter? 😋

[Captain Kremmen]

On 11/2/2022 at 4:58 PM, smartman said:

Poor Sally.

Here's the official footage of Sally's brother Franklin's chainsaw mishap. Sally had the misfortune of seeing it when it actually happened.

https://youtu.be/8gGANie5oVk

 

[Captain Kremmen]

NOVEMBER 1-4, 1989

A TIME TO BE FRANTIC

AWA head cheese Verne Gagne had informed Deborah Harry, John Waters, Jim Crockett and Bill Watts about the extended deadline to make a deal with Vince McMahon. 

Verne also informed the quartet of Vince's upgraded offer.

The quartet was now beginning to believe that buying the AWA was slipping from their grasp.

Things also took an interesting turn in Verne's dealings with Tribune Media Company.

Verne spoke with Ron DeSantis, the point man for Tribune on dealing with the AWA.

DeSantis dropped this little surprise on the Vernester.

Ron: Verne, when does your deal run out with ESPN?

Verne: Next year.

Ron: We here at Tribune Media have been discussing it.

Verne, we'd like to give you a weekly prime slot on WGN for a 90-minute version of AWA Championship Wrestling. The show would air exclusively on WGN and you, or whomever you chose, would be the producer of it.

The wrestling end of things would be 100% in your hands.

This would also increase revenue for the AWA substantially as we would pay you for airing the program on our network.

Verne: Wow! Gotta admit that sounds tempting.

I would have to sever ties with ESPN, correct?

Ron: Yes. You would be dealing strictly with Tribune Media.

Verne: Can I ask what we are looking at in terms of payment for the program.

Ron: Right now. $30,000 a month.

Verne took notice.

Ron: And we would re-negotiate the TV contract annually.

Verne: That's $360,000 dollars a year. Not a bad start.

Ron: And get this. We'll cover the cost of the TV tapings in Las Vegas!

And...we'll cover all airfare and room expenses in Vegas.

Verne: That's a hell of an offer, Ron.

Ron: Uh-huh.

Verne: But I've got two other potential buyers that I still am dealing with. Can I give you an answer in a few days?

Ron: Take your time, Verne.

But we would love to have the AWA as part of the Tribune family.

Verne: I appreciate the offer.

Later that night...

Verne had a discussion with wife Mary and son Greg at the kitchen table in Verne's home.

Mary: So, what is Tribune Media offering you now?

Verne: The world.

Mary: Explain.

Verne: The original deal still stands. But on top of that, they want to move AWA Championship Wrestling to WGN and make it a 90-minute program. The show will be their exclusive property.

And they're willing to pay us to air the program on WGN.

Mary: How much?

Verne: $30 grand a month.

Greg: A month?! That's almost $400 grand of extra revenue!

Verne: And they said we'd re-negotiate the TV contract annually.

Greg: So, it's $2.5 million for the company plus $400 thousand a year for three years for you to stay on; and now another almost $400 grand per year to air the ESPN show exclusively on WGN?!

Verne: That's right.

Greg: The TV deal alone will go up and up and up over the next few years.

There's no way even Vince McMahon could compete with Tribune Media.

Dad, take the Tribune offer! Plus, they'll cover the production costs for the show as well as airfare and room expenses for everybody traveling to Vegas.

Verne: It's tempting to pull the trigger. But I gave my word I'd talk to the other two potential buyers again before making a decision.

And I have trouble with the thought of the AWA becoming part of a major corporation.

Mary: But you'll still be in charge of the AWA.

Verne: Will I, Mary?

When I ran the AWA, the buck stopped with me.

If I sell, I'd have to do some corporate ass kissing.

Mary: How do you know that?

Verne: Because it's a big corporation. That's how I know.

I worry the temptation by my bosses to meddle  would be too great to resist. They could screw up the promotion beyond repair. They're a bunch of dumbf-uck outsiders who think they know wrestling because it's showbiz and they watched it on TV when they were kids. They'll want to stick their greasy paws in and make a big mess with their directives and whatnot.

Greg: Dad, think of the money. Think of your future. Think of the family.

They may trainwreck the AWA. But once it's out of your hands it's not your problem anymore.

Your legacy, no matter what happens to the AWA, is secured. You had a great run as a wrestler and a promoter. Not too many people can say that. The AWA under you will always be remembered fondly by those who were there, dad.

Greg: At the end of the day it's a business like everything else.

Mary: I say take the deal, hon. But I'll support you no matter what you decide to do.

Verne: You'll support me, huh?

Mary: I've loved you this long while you've been in the wild and crazy wrestling business. I'll still love you no matter what you do.

A silence fell over the table. 

Verne had one hell of a tough decision on his hands.

NOVEMBER 4, 1989...

Verne had talked to John Waters, Deborah Harry, Bill Watts and Jim Crockett and told them about the Tribune Media updated offer.

Later, John Waters called Deborah Harry.

Deb: Hello.

John: Hi, Deb.

Deb: Hey.

Well, things don't look too good.

John: They don't. We've ridden this horse about as far as we could ride it.

When Vince McMahon got involved that was bad enough. But Tribune Media...

Deb:  I know. I thought we had a pretty good shot against Vince. But Tribune Media is a completely different animal.

If I was Verne I'd take their deal.

John: The odds of us owning this now are pretty slim. But, we'll just have to wait and see how things unfold.

Verne's due to talk to Vince tomorrow. Who knows? It could be over 24 hours from now

Deb: We'll just have to wait and see.

John: Also talked with Jim Crockett. He thinks us buying the AWA is a longshot now, too.

Deb (sighs): I'm already starting to mentally prepare for the bad news.

John: Me, too.

I was getting pretty excited about the prospect of owning a wrestling promotion.

But, the best laid plans...

Deb: I'll talk with you tomorrow, dearest. Hopefully we're somehow still in the hunt.

John: I know how you feel, Deb. We'll talk tomorrow.

Tomorrow was November 5th...

And Vince was getting an answer from Verne one way or another.

STAY TUNED...

Edited November 9, 2022 by piperrulz

[smartman]

I agree with Greg on taking the deal, but I also agree with Verne that there have to be massive strings attached to front that much money. That makes the TV deal cost next to nothing to produce, but you're getting $30k/month or $7500/episode. That's a heck of a lot of money for 1990. Maybe not enough to cover the new hires you'll need, but that's what the rest of their fortune is for. But there just has to be another shoe floating in the sky waiting to drop. Wonder why Crockett or Watts aren't talking to some networks?

[Captain Kremmen]

NOVEMBER 5, 1989

 

VERNE VS. VINCE

 

AWA HQ - ST. LOUIS PARK, MN

 

Verne Gagne picked up the phone and dialed.

 

After three rings...

 

Secretary: World Wrestling Federation. How may I direct your call?

 

Verne: May I speak to Vince McMahon? This is Verne Gagne.

 

Secretary: I'll put you through right away. Mr. McMahon says you're the top priority today.

 

Verne: Thank you.

 

Verne was put on hold and listened to some hold music while he waited.

 

Vince (upbeat): Hello, Verne.

 

Verne: Hi, Vince.

Vince: It is decision day. This is the drop-dead date. There will be no exceptions.

 

Verne: Understood. I have made a decision.

 

Vince: What is it?

 

Verne: It was tough...but I have decided not to sell to you.

 

Momentary silence that felt like forever.

 

Vince: Can I ask why?

 

Verne: Frankly, Vince, I don't trust how you'd handle the legacy of the AWA.

 

I still remember what happened a few years ago when you picked off a bunch of my guys.

 

Vince: Oh! That was then Verne! This is just a piece of business!

 

Trust me! I will retain your legacy!

 

Verne: Last call, you told me that you would make me more money than I ever dreamed of.

 

Vince: I meant it. Still do. Sell to me and you'll be hitting blackjack all the time.

 

Verne: Money's important. But there are some things that are just more important than money.

 

Vince: Verne, let's say that I did do something different with the AWA than originally planned.

 

So what?! Once you sell it's out of your hands.

 

Verne: My legacy and the legacy of the AWA are important to me, Vince.

 

You've just come in and steamrolled the territories right down the memory hole.

 

You present a campy product that makes a mockery of the business in my opinion.

 

Vince: The results speak for themselves, Verne. My 'mockery of the business', as you call it, seems to do very well at the box office.

 

And the WWF is not a 'mockery'. We just present wrestling in a somewhat different fashion. We put a heavier emphasis on the

 

entertainment aspect. And that's what this is, Verne. Entertainment.

 

Verne: I still think that one day your business model will  come back and bite you in the ass.

 

Vince (sarcastic): Well, before that happens you should sell to me, make scads of money and retire a wealthy man.

 

Verne: If it was just about greed I'd probably do it.

 

Vince: Greed is good.

 

Verne: I'm 63 now. I have a pretty darn good life.

 

Vince (exasperated): Verne, take my deal, please! It is the best one you'll get. Remember, you'll be in charge of the AWA leading up to the inter-promotional angle.

 

Verne: How do I know you won't fire me a few weeks into this whole thing if I sell to you?

 

Vince: You'll just have to trust me, Verne.

 

Verne: Would I be in it for the long haul until the completion of the inter-promotional feud?

 

Vince: You would be a part of it. I can only ask you to trust me.

 

Verne: Would I get a guaranteed contract?

 

Vince: You would. With a downside guarantee.

 

Verne: In other words, you could let me go at anytime for any reason and I would get a low-end payout?

 

Vince: If it happened you would get a good payout.

 

Verne: I just can't pull the trigger with you, Vince.

 

I still have two other possible buyers out there. I think they will protect the AWA's sports-centered presentation of pro wrestling.

 

Vince: Suit yourself.

 

But know this...

 

I'm gonna raid some of your wrestlers just like I did back in '83.

 

I offered you a wonderful deal, Verne, and you rejected it. Now, you'll suffer for that decision.

 

Verne: The only reason you want to buy the promotion is because you're worried about someone with deep pockets buying it.

 

You don't want another competitor like the NWA is now because Turner bought it. You're worried as hell.

 

Vince: Well...f-uck you then, Verne!

 

Your business is gonna go down the toilet!

 

You're in such bad shape that no one but me could salavge your business!

 

I'll sit back and watch the AWA crumble to dust!

 

Keep presenting your 'pro wrestling as sport' model!

 

Watch the fans come to your shows disguised as thousands of empty seats!

 

Our success and your failure proves that we have a winning formula!

 

Verne: You're right...for now. But I am not selling to you.

 

Vince (calm): Last chance, Verne. Let's make this happen. Just say 'yes'.

 

Verne thought for a moment...

 

Verne: Not gonna do it.

 

Vince: Then don't ever contact me again!

 

And if your son Greg needs a job when the AWA goes under, well I'll give him one! 

 

He can be the night janitor here at Titan Tower!

 

Verne (calm): Bye, Vince.

 

Vince, showing true class, slammed down the phone.

 

Vince McMahon was now officially out of the running to buy the AWA.

 

And then there were two...

 

STAY TUNED...

[Old School Fan]

Ha-haaa, take that, Vince!  😆

Verne made the right choice in not selling the AWA to him.  Now it comes down to Tribune and "Team Blondie"...  🏆

(Oh, and as an added bonus, some background music for the shootdown of Vince's offer, just because...  The Price Is Right losing horns )  😁

Edited November 10, 2022 by Old School Fan

[Captain Kremmen]

On 11/10/2022 at 3:25 PM, Old School Fan said:

Ha-haaa, take that, Vince!  😆

Verne made the right choice in not selling the AWA to him.  Now it comes down to Tribune and "Team Blondie"...  🏆

(Oh, and as an added bonus, some background music for the shootdown of Vince's offer, just because...  The Price Is Right losing horns )  😁

Closure is on its way very soon.

Those horns made laugh.

Edited November 14, 2022 by piperrulz

[Captain Kremmen]

NOVEMBER 1989

AWA boss Verne Gagne contacted all interested buyers and let them know that Vince was out of the running.

This made 'Team Blondie' and Tribune Media very happy.

Now, it was time for those two parties to make a final pitch to Verne.

If he sells, who does he sell to?

Verne was thinking that business, while not spectacular, was on the rise.

Could he keep the company and try to turn it around by himself?

A final decision was coming...and quickly.

STAY TUNED...

 

P.S. - OSF, thanks for the 'Team Blondie' name! 😁

Edited November 14, 2022 by piperrulz

[Old School Fan]

13 hours ago, piperrulz said:

P.S. - OSF, thanks for the 'Team Blondie' name! 😁

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

On 11/4/2022 at 4:27 PM, piperrulz said:

Verne: Right. I don't forsee another offer coming. So, it would be down to Team Blondie and Tribune Media.