"Wanted him to change the contract" – Wrestling veteran details how Vince McMahon went back on a major WWE deal (Exclusive)
Wrestling legend Greg Gagne recently spoke about how Vince McMahon allegedly went back on his word regarding a WWE toy deal in the '80s.
While WWE was looking to launch its action figures in the market in the '80s, the promotion was in talks with several companies for its licensing rights. The front runners for the deal were toy companies Remco and LJN Toys Ltd. However, the contract was eventually signed with LJN.
Speaking on this week's UnSKripted podcast, Gagne suggested that McMahon seemingly negotiated the entire deal in bad faith.
Here's what Gagne had to say:
"Steve Rosenthal was with Remco toys and his son was a big wrestling fan. Steve worked in New Jersey for Remco toys and he was kind of their creator. His son said 'Dad why don't we do wrestling?' So he went to Vince McMahon, talked to Vince, and actually gave him some upfront money. About 50 grand is what he said. Vince wanted him to change the contract a little back and forth about three or four times."
Gagne also mentioned that the former chairman and CEO signed with another company despite taking some upfront money from Steve Rosenthal of Remco Toys:
"He started to make the dolls and he came back to his office, and Vince threw a magazine and said, 'Do you know these people?' He said, 'Yes.' He says, 'I just signed a deal with them.' So he was out quite a bit of money." (5:12 - 6:01)
You can watch the full video here:
Remco produced toys for AWA after the WWE fiasco
During the same conversation, Greg Gagne spoke about how American Wrestling Association promoter Verne Gagne worked with Rosenthal to produce action figures for AWA for eight years.
"He came to my father, Verne in AWA and we did eight years with him of Remco toys. First action figures for professional wrestling in the market and then he retired." (6:02 - 6:13)
From the 1986 Toys ‘R’ Us Summer Fun Book (via the June 17, 1986 issue of Woman’s Day of all magazines): Remco’s AWA All-Star Wrestlers and All-Star Wrestling Ring! https://t.co/z6RZqGLOyE
The AWA deal helped Remco bring out some fantastic action figures of a star-studded roster that included The Road Warriors, Razor Ramon, Ric Flair, Nick Bockwinkel, Shawn Michaels, and Marty Jannetty.
Are you a fan of wrestling action figures? Let us know in the comments section below.
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