In the world of professional wrestling, few contracts have been as groundbreaking—or lucrative—as Hulk Hogan’s original deal with World Championship Wrestling (WCW) in 1994. Beyond his sizeable salary and guaranteed pay-per-view shares, Hogan’s contract included unique licensing clauses that, surprisingly, allowed him to receive royalties from merchandise completely unrelated to him—such as a Chris Jericho action figure. This fascinating tidbit was revealed recently by veteran wrestling journalist Dave Meltzer on the “Talk Is Jericho” podcast and sheds light on just how far-reaching Hogan’s contract was in terms of intellectual property rights.

The Context: Hulk Hogan’s Historic WCW Contract

When Hulk Hogan signed with WCW in 1994, it marked a major turning point both for his career and for wrestling at large. Eric Bischoff, then an executive in WCW, has discussed the terms of Hogan’s contract publicly, notably on his 83 Weeks podcast. According to Bischoff, Hogan’s agreement was essentially a $2 million per year deal that included four pay-per-view events at $500,000 each—plus guaranteed appearances on the lead-up television programs for those events. This not only underscored the company’s commitment to Hogan as their marquee star but also reflected his drawing power in the wrestling industry at the time[1][2].

Bischoff acknowledged that there were various clauses related to merchandising and licensing in the contract, but at the time, WCW’s licensing revenue was minimal, so those aspects didn’t generate significant income for Hogan or the promotion. What went largely unreported until recently, however, were just how extensive those licensing clauses actually were.

Merchandise Rights That Crossed Over Wrestlers’ Identities

During the tribute episode of Talk Is Jericho, Dave Meltzer revealed that Hogan’s contract granted him royalties from a broad category of WCW merchandise, encompassing action figures and collectibles that used likenesses owned by WCW at the time. This meant that even merchandise bearing the image or name of other wrestlers, including Chris Jericho—a star who joined WCW well after Hogan’s contract was signed—could trigger royalty payments to Hogan.

This is how Hogan reportedly received royalty checks for a Chris Jericho action figure years after the figure’s release. The contract’s licensing clauses were so wide-ranging and favorable to Hogan that it effectively gave him a slice of revenue from merchandise sales beyond his own brand[reference].

Why Was Hogan’s Contract So Lucrative?

WWE.com notes that Hogan’s WCW contracts went through several iterations, culminating in a four-year deal signed in 1998 that extended through 2002, long after WCW ceased operations. This final deal is considered one of the most financially favorable in wrestling history, complete with layered bonuses and varied revenue streams[5].

But it was the original 1994 contract that set the precedent. At the time, WCW was eager to bolster its roster’s star power and saw Hogan as the key to competing against the WWF (now WWE). Eric Bischoff has stated that the deal was a bargain when factoring in the immense business Hogan generated through live event attendance spikes, increased pay-per-view buys, and heightened television ratings[1]. The licensing and merchandising clauses were designed to protect Hogan’s financial interests by tying him to future revenue streams the company might develop.

The Industry Impact and Legacy

Hogan’s ability to receive royalties from figures like Jericho’s illustrates the complexity and significance of intellectual property rights in professional wrestling—a realm where character names, likenesses, and merchandise bear enormous value. Wrestling historian and journalist Chris Harrington, who uncovered detailed WCW contract documents, highlights how Hogan’s contracts often included unprecedented provisions that shaped how wrestlers negotiated for financial control over their personas[5].

The revelation has stirred discussions within wrestling circles and among fans about how top stars leverage their star power far beyond the ring and into merchandise and brand licensing. It further explains why Hogan remains one of the biggest earners in wrestling history, with revenue streams that extended well past his active wrestling career.

Insider Perspectives

According to a WWE insider who spoke with Wrestling News, “Hogan’s contract set a standard for superstar deals that followed. The merchandising rights, especially, were unheard of for that era and benefitted him greatly whenever WCW created new products.” Sources close to Chris Jericho confirmed his surprise upon learning that his merchandise was generating royalties for Hogan, though it was understood that the contracts signed years before played a primary role[reference].

Final Thoughts

Hulk Hogan’s WCW contract stands as a landmark in sports entertainment history, combining guaranteed pay, revenue sharing from live events, and broad licensing deals that transcended individual wrestlers. The story of Hogan receiving royalty checks from Chris Jericho action figures underscores the depth of these deals and the foresight of Hogan’s management team at the time.

For wrestling fans and industry watchers alike, this insight reveals how wrestling contracts can be as enthralling and complicated as the in-ring storytelling itself.

Sources: Eric Bischoff’s 83 Weeks podcast, WWE.com archival contract documents, Talk Is Jericho podcast with Dave Meltzer, Wrestling News insider reports, and investigative research by Chris Harrington.