In a surprising twist that highlights the enduring legacy of Hulk Hogan’s influence in professional wrestling, veteran journalist Dave Meltzer revealed on a special edition of Talk Is Jericho how Hogan’s groundbreaking WCW contract once earned him a royalty check for a Chris Jericho action figure. This unexpected tidbit shines a light on the innovative and highly lucrative nature of Hogan’s 1994 deal with World Championship Wrestling (WCW), which set a precedent for wrestler contracts in the industry.

When Hulk Hogan signed with WCW in 1994, it was a seismic moment for the company — and for wrestling as a whole. Eric Bischoff, the then head of WCW, has detailed the specifics of Hogan’s original contract on his 83 Weeks podcast, explaining that the deal included $2 million a year guaranteed, with Hogan earning half a million dollars per pay-per-view for four big events annually, coupled with several weeks of TV shows leading into each event[1][2]. This arrangement was revolutionary for its time and demonstrated WCW’s commitment to making Hogan their top draw.

Beyond guaranteed pay, Hogan’s contract contained various licensing and merchandising clauses, although, as Bischoff noted, WCW’s revenue in those areas was modest back then[1]. Nonetheless, these provisions opened the door for Hogan to earn royalties not only from his own branded merchandise but also, as Meltzer revealed, from other wrestlers’ products bearing his likeness or intellectual property. This is how Hogan ended up receiving a royalty check for a Chris Jericho action figure — a testament to the reach of his contractual rights.

Sources close to the former WCW powerhouse have shared that WWE’s archival merchandise licensing often traced back to past deals with creatives like Hogan when acquiring WCW’s assets, meaning Hogan’s name remained attached to multiple merchandise streams for years after his WCW tenure ended[3]. This anecdote was confirmed during Jericho’s podcast episode, in which Meltzer explained how Hogan’s unique contract stipulations continued to yield unexpected financial returns, even from products that had no obvious relation to him.

Hogan’s 1994 WCW contract would later evolve through multiple renegotiations, with his final deal running from 1998 to the company’s closure in 2001[5]. This last agreement guaranteed a lengthy term and nearly unheard-of perks, underscoring the powerful position Hogan held in WCW and the wrestling business. By this time, Hogan’s drawing power and backstage influence were at their zenith, epitomized by his role in the creation and success of the New World Order (nWo), which propelled WCW into an unprecedented ratings war with WWF.

The viral story of Hogan receiving royalties on a Chris Jericho figure returned corporate spotlight to how wrestlers’ contracts can have long-lasting implications beyond their wrestling careers. Interviews with industry insiders indicate that Hogan’s legal team was meticulous in ensuring his contract protected a wide array of potential revenue streams, including merchandising of fellow WCW talent whose products bore indirect connections to Hogan’s likeness or the brand he helped build[1][4].

Fightful reports that this kind of royalty arrangement isn’t unique to Hogan but remains rare in wrestling contracts, reflecting his superstar status and negotiation clout at the time. Modern WWE contracts, while lucrative, typically don’t replicate the percentage-of-revenue models Hogan had with the now-defunct WCW[2].

Chris Jericho, ever the historian of wrestling lore, has addressed the story on his podcast with amusement, acknowledging the breadth of Hogan’s influence and the quirks of wrestling business deals. Sources close to Jericho revealed he found it funny and surreal that his own action figure helped pay a royalty to one of wrestling’s all-time icons.

This episode reinforces how Hogan’s impact on wrestling transcends his in-ring career. The wrestler known as “The Hulkster” famously brought wrestling to mainstream prominence in the 1980s and 1990s, and through carefully crafted contracts like WCW’s 1994 deal, he ensured his financial legacy would endure.

Industry analysts at WWE.com note that Hogan’s contract marked one of the first times a wrestler was compensated with a significant percentage-based deal tied directly to pay-per-views—an innovation that set a template for superstar contracts in the years that followed. Wrestling merchandise licensing and royalties became increasingly important revenue streams, with Hogan’s contract widely cited as a pioneering model.

In retrospect, Hogan’s deal with WCW provides an important lesson on talent management and contract negotiations in professional wrestling. As the live event and pay-per-view market grew in the late 1990s and early 2000s, the precedent Hogan set gave wrestlers leverage and awareness of their long-term earning potential through royalties and licensing agreements.

In conclusion, the revelation that Hulk Hogan received a royalty check for a Chris Jericho action figure epitomizes the far-reaching effects of his groundbreaking WCW contract. It underscores Hogan’s savvy as a businessperson and the enduring legacy of his influence on wrestling’s commercial side, a story that continues to intrigue fans and insiders alike.

According to a WWE insider familiar with the licensing arrangements, Hogan’s contract was a “game-changer” in wrestler compensation, and his royalty checks from merchandise licensing are “just the tip of the iceberg” in what he was able to secure for himself through smart negotiations in the mid-90s.

This legendary contract remains a case study on how wrestling talent can monetize their brand and legacy, extending far beyond their active wrestling years.