Hulk Hogan Challenges Part of Expensive Divorce Settlement

By December 19, 2011

Not sure how we missed this one. Wrestler Terry Bollea – better known as Hulk Hogan – and his ex-wife have agreed a financial settlement in their divorce, court records show.
Read the full story from The here.
St. Petersburg Times
CLEARWATER | Some might call it a financial smackdown.
Linda Bollea, 52, who divorced Hulk Hogan in 2009, received a little more than 70 percent of the couple’s liquid assets in their divorce settlement, a recent court filing shows.
In addition, Hogan, 58, the semiretired professional wrestler whose real name is Terry Bollea, agreed to give his ex-wife 40 percent ownership in his various companies and pay her an additional $3 million ” property settlement,” according to the filing.
The confidential financial settlement came to light this week after it was attached to a new motion filed by Terry Bollea’s attorneys.
Details from the settlement show Linda Bollea received $7.44 million of the couple’s $10.41 million that was held in bank and investment accounts. Terry Bollea got the remaining $2.97 million.
However, he will not have to pay his ex-wife alimony.
Other details that emerged from the court document include:
– Terry Bollea gets to keep any money he makes from personal appearances and the sale of his book, My Life Outside the Ring, published in fall 2009.
– The couple agreed to sell both of their Pinellas County homes, their Clearwater Beach home and the iconic estate on Willadel Drive in Belleair where much of the reality series Hogan Knows Best was filmed.
– Linda Bollea sold the beach house in 2010 for $1.65 million. She pocketed that money as part of the $3 million property settlement, said her attorney, Ray Rafool of Miami.
– The Belleair home was originally listed at $13.9 million. It is still on the market, listed at $8.87 million. When it sells, Terry Bollea will be responsible for paying any money still owed to his ex-wife from the property settlement. Any additional proceeds will then be divided evenly between the two.
– Linda Bollea got to keep a Mercedes-Benz, a Cadillac Escalade, a Corvette, a Rolls-Royce and various off-road vehicles. Terry Bollea, who had an extensive collection of vehicles, got the rest, though they were not detailed in the agreement.
The Bolleas married in 1983 and divorced in July 2009 after nearly two years of acrimonious proceedings. They have two grown children: daughter Brooke and son Nick.
Read the rest of the history/story here.