Hulk Hogan, the famous professional wrestler whose real name is Terry Bollea, lost 70 percent of his liquid assets to his ex-wife, details of his Florida divorce settlement reveal. The confidential settlement agreement surfaced recently because of other disputes between the two.
Linda Bollea received $7.44 million of the $10.41 million in bank assets that were controlled by Terry Bollea. In addition, she was awarded 40 percent ownership in companies that market the Hulk Hogan trademark, and Bollea also agreed to pay his ex-wife an additional $3 million in the couple’s property division settlement.
The couple was married in 1983 without a prenuptial agreement. Bollea, 58, will not owe his 52-year-old ex-wife any additional money or alimony once the property settlement is fulfilled. He was awarded full rights and profits from the sale of any books, performances and personal appearances that he will undertake in the future.
The couple agreed to sell their real estate in Clearwater Beach and their estate in Belleair to fulfill the terms of the property settlement agreement. Bollea also gave his ex-wife a number of cars, including a Mercedes-Benz, a Cadillac Escalade, a Rolls-Royce and a Chevrolet Corvette.
Although the divorce settlement is filed, the couple continues to argue over whether company revenues owed by Bollea to his wife should be paid according to gross or net profits. The settlement agreement refers to net revenues, whereas a recent payment order issued by a Pinellas circuit judge requires Bollea to pay his ex-spouse 40 percent of the gross revenues. Bollea wants that order set aside.
Source: St. Petersburg Times, “Ex-wife put Hulk Hogan against ropes in divorce settlement” Nov. 23, 2011