Recent details have emerged from court documents outlining the high-asset divorce of semi-retired wrestler Hulk Hogan, who was forced to forfeit 70 percent of his liquid assets in a divorce settlement to his former wife of 26 years. The amount she will receive is nearly $7.5 million.
Hogan, 58, whose real name is Terry Bollea, reportedly did not have a prenuptial agreement with his wife, Linda Bollea, 52. The couple was married in 1983 and divorced in 2009. The recent court rulings state that, in addition to the liquid assets, Bollea must also relinquish 40 percent ownership in various companies and an additional $3 million in property settlements to his former wife. Bollea will not, however, be responsible for any future alimony.
The financial settlement, which became public after Linda Bollea filed a new motion recently, reveals that Bollea must also sell his estate in Belleair, Florida, to fulfill the property settlement agreement. The couple’s Clearwater beach house has already been sold for $1.65 million, which Linda Bollea received as part of the settlement. Once the Belleair estate is sold, the remainder of the settlement will be fulfilled, and any remaining money will then be divided equally between the two parties.
Terry Bollea has long been an avid car collector, and also gave his former wife a Mercedes-Benz, a Cadillac Escalade, a Rolls-Royce, a Chevrolet Corvette and various off-road vehicles.
The wrestler’s attorneys asked a judge to set aside the payment order, arguing that divorce documents require the couple to resolve asset disputes through arbitration and not through the courts.
Source: St. Petersburg Times, “Ex-wife puts Hulk Hogan against ropes in divorce settlement” Nov. 23, 2011