ECW bankruptcy files (creditors owed list)
Depending on your source (April 4th or 11th) Paul Heyman made it official. ECW’s parent company, HHG Corporation, filed Chapter 11 Bankruptcy, claiming $8,881,435,17 in debt (which will be broken down for you later).
Official ECW Petition of Debt:
-In 1999 ECW grossed $5,822,312 in total income (WWF grossed $259,000,000, WCW grossed $130,000,000 and lost $16,000,000)
-In 2000 ECW grossed $4,124,452 & lost $2.5 million. (WWF grossed $379,000,000, WCW grossed $120,000,000 and lost $65,000,000)
This results in the conclusion that ECW grossed less than one percent of the market share in a half billion dollar pro wrestling industry). The company sharply declined in gross income, though less sharply than WCW, when it actually had national television.
ECW was owned 85 percent by Paul Heyman & 15 percent by Annondeus, Inc., a division of Acclaim.
Major Creditors Owed (owed over $20,000):Advanced Transportation Service of West Caldwell, NJ: $125,140
Annondeus, Inc. $1,000,000
Farm Club Online $300,000
Paul Heyman (back wages) $128,000
Madison Square Garden Cable $244,000
American Cable Productions $243,000
Gregory Bagarozy (area promoter) $20,576.93
Eugene Boffa Jr. (lawyer) $188,000
William Byrd (ECW on TNN producer) $64,000
Chase Manhattan Bank of Jericho, NY $29,441
Eugene Ciarkowski (lawyer) $183,000
Donahue, Gironda & Doria (accountants) $50,000
Richard Heyman (company funder) $3,575,429.19
Sulamita Heyman (company funder) $226,500
Hoffinger, Friedland, Dobrish, & Stern (law firm) $140,000
In Demand Cable $150,000
Steve Karel $50,000
Peter Klamka (PTN Media) $50,000
Original San Francisco Toymakers $250,000
Players Computers, Inc. $24,640
Stonecutter Productions (Steve Karel) $75,000
Top Rope Productions $25,000
Weigel Broadcasting (Chicago V) $60,000
World Wrestling Federation Entertainment $587,500
All Performers Owed:William Alfonso (Fonzie) $5,000
Scott Antol (Scotty Anton) unknown
Joseph Bonsignore $50,480
Mike Bucci (Nova) $4,000
Don Callis $12,000
Lou D’Angeli (Lou E. Dangerously/Sign Guy Dudley) $7,000
Michael DiPaolo (Roadkill) $21,250
Joseph Dorgan (Swinger) unknown
John Finnegan unknown
Francine Fournier $47,275
James Fullington (Sandman) unknown
Terry Gerin (Rhino) $50,000
Matt Hyson (Spike Dudley) unknown
Francisco Islas (Super Crazy) $5,000
Mike Kehner unknown
Patrick Kenney (Simon Diamond) $9,000
Tom Laughlin (Tommy Dreamer) $100,000
Jerry Lynn unknown
James Maritano (Little Guido) $25,000
Troy Martin (Shane Douglas) $48,000
Jim Mitchell (Sinister Minister) unknown
James Molineaux unknown
Dan Morrison (Danny Doring) $2,100
Peter Polaco (Justin Credible) $7,990
Dawn Psalpis (Dawn Marie) $9,000
Joe Rechner (Balls Mahoney) $4,000
Ken Reininhaus (Jack Victory) $3,000
Robert Szatkowski (Rob Van Dam) $150,000
Yoshihiro Tajiri $5,000
John Watson (Mikey Whipwreck) $12,000
Source:
http://ecwrestling.yolasite.com/hchistory.php
ECW grossed $5.8 Million in 1999 and $4.1 Millions in 2000.
Two other articles on the subject.
ECW’s stunning money woes made public
Interesting links:
http://www.canadianbulldogsworld.com/#!extreme-zine/cxrv