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They Lost so much money, not because they weren't making enough, but because they wee literally paying out guaranteed contracts to about 75-100 guys at a time. Everyone got guaranteed big money deals, that is why so many guys were in WCW. When someone went out, they collected still. They were overpaying their current roster, and still overpaying guys that had been off tv for 2 years! The top guys were pulling amazing amounts compared to today's top guys. Tips makes like 2.2 Mill a year, and he is tops. Nash was pulling like 4 mill a year if I remember correctly, Hogan like 6 or 7. They were bleeding out from contracts and when the Money stopped BOOMING, they were stilling pulling good, but they couldnt cover their overhead.
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That was the issue though - the wrestlers weren't overpaid when business was hot. But once revenue stopped coming in because of their inept booking, those contract became a problem. And, according to Meltzer, who used to get the financial reports from WCW, even if WCW didn't pay anbody enything, they still would have lost over $40 million in 2000.
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Originally Posted by Stickman
So what was STarcade originally? I'm reading here that it's a supershow. Well does that mean the Champions of all the territories got together or some shit?
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No no, the idea of "this is the big show" wasn't a concept originated at Starrcade, Graham would culminate what he was doing with a show he would present to the audience as "the big event", and would happen very sporadically, but everything would always be building towards it.