On a recent edition of his “Everybody’s Got A Pod” podcast, WWE Hall of Famer Ted DiBiase Sr. discussed receiving royalties from WCW and WWE, “Macho Man” Randy Savage’s $1 million contract, and more.
You can check out some highlights from the podcast below:
On Randy Savage’s $1 million WCW contract and whether he would’ve thought that kind of money could’ve been earned in wrestling: “It’s kind of like the old NFL and the new NFL. I’m sure there’s a lot of very old football players who were still alive — maybe not too many of them but like, back when the whole thing started. And talk about what they were getting paid. And when football season was over, it wasn’t like they could live off what they had earned. They had to go get a job. Or they had to work another job. Well, that’s the same thing with wrestling; that kind of money was almost unheard of, you know.”
On whether he got any of the money from NWO merchandise sales: “I don’t think so… and that’s that’s the other thing too. You know, I came at the very beginning. I was there when Hulk Hogan was still the guy. So this is years later, and having come out of having no contract, you know what I’m saying? To having to sign a contract, but there at the beginning, it was almost like you didn’t have anything to bargain with. There’s no way back then you could go, ‘Okay, Vince, I’d be happy to wrestle for you, but you’re gonna call me the Million Dollar Man, that’s how much money I want.’ And he’d have probably showed me the door…
“The thing is that WCW comes along, and now there’s competition. That’s the difference. And you know, I can’t remember exactly what my contract was for… I mean, it’s totally guaranteed. In other words, whether I was there or I wasn’t. It was almost like a no-cut deal. And this basically happened for me when I went to work there. And of course, Eric Bischoff, nice guy. But back then, he didn’t know squat about wrestling. And he’s the boss. You know, so he’s dependent on all these wrestlers basically to help him book the whole show. It was crazy. I mean, some of those meetings were insane. But, you know, he was able to offer the money to the guys because of Turner.”
On still getting royalty checks from WWE: “I still get a quarterly royalties check. Because they keep coming out with — you know, I haven’t had tights on for 30 years, right? And you know, they’re still making these new action figures that I see that the kids will bring in had me sign.”
On how wrestlers earned the most money on royalties: “Where most of us made the most money was — it’s on the form when you get your royalty check, and it lists — and that’s the other things. The percentages that we got there were ridiculously small. But anyway I still got quarterly royalty check, and most of the money was made for most of us was what they call ‘electronics,’ the video games. The video games are the things that brought in the most money.”
On whether the merchandise money ever made him think about turning babyface: “I don’t know if I ever gave it too much thought. I mean, I was being paid well so. And again, the other thing with the Million Dollar Man character was — you know, first class airfare, limousines, all that stuff. It’s a tough job but somebody had to do it. Hogan and Andre were the only other two people that got that kind of treatment.”
In a recent episode of his podcast, WWE Hall of Famer Ted DiBiase Sr. shared some interesting insights about his time in the wrestling industry. From discussing Randy Savage’s $1 million contract to receiving royalties from WCW and WWE, DiBiase shed light on various aspects of the business.
DiBiase began by comparing the early days of wrestling to the early days of the NFL. He explained that back then, wrestlers and football players didn’t earn the kind of money they do now. They often had to find other jobs to sustain themselves after their respective seasons ended. Similarly, in wrestling, the idea of earning millions of dollars was almost unheard of.
When asked about NWO merchandise sales and whether he received any money from them, DiBiase revealed that he didn’t think so. He explained that during his time, he didn’t have much bargaining power as he was just starting out. He couldn’t demand a specific character or a certain amount of money like wrestlers can today. However, with the emergence of WCW and competition in the industry, wrestlers began to have more leverage in negotiations.
DiBiase then discussed his contract with WCW and how it was a guaranteed deal. Whether he was present or not, he would still receive payment. He also mentioned that Eric Bischoff, who was in charge at the time, didn’t have much knowledge about wrestling and relied heavily on the wrestlers for booking decisions. Despite the chaotic nature of some meetings, Bischoff was able to offer large sums of money to wrestlers due to the financial backing of Turner Broadcasting.
Surprisingly, DiBiase revealed that he still receives quarterly royalty checks from WWE. Even though he hasn’t been an active wrestler for 30 years, the company continues to release new merchandise featuring his character. He mentioned seeing kids bringing in action figures for him to sign, which indicates that his character still holds a special place in the hearts of fans.
When discussing how wrestlers earned the most money, DiBiase highlighted the importance of royalties, particularly from video games. He explained that although the percentages wrestlers received were small, the revenue generated from video games was significant. This sheds light on the lucrative nature of licensing and merchandise sales in the wrestling industry.
Lastly, when asked if the merchandise money ever tempted him to turn babyface (a good guy character), DiBiase admitted that he never gave it much thought. He was being paid well for his role as the Million Dollar Man character, which came with perks like first-class airfare and limousines. He mentioned that only Hulk Hogan and Andre the Giant received similar treatment.
Ted DiBiase Sr.’s insights provide a glimpse into the financial aspects of the wrestling industry. From the evolution of wrestler contracts to the significance of merchandise royalties, his experiences shed light on how wrestlers have navigated the business side of their careers.