Eric Bischoff is a veteran in the pro wrestling world and his opinion is usually taken seriously, for the most part. He is also a huge critic when it comes to AEW for the past few months.
During his appearance on Ryan Satin’s “Out of Character” podcast, Eric Bischoff talked about his 2017 bankruptcy.
“In 2017, I had to file bankruptcy at 62 years old when most people my age are retiring, and I’ve made millions of dollars, by the way. It’s not like I’ve just been putzing along. I’ve done fairly well in my life. I’ve made more money outside of wrestling than I made inside of wrestling, and I made a lot of money in wrestling. But because I’m an entrepreneur, because I’m a risk taker, and because I get passionate about things, I got involved in a tech-basedAE opportunity. All of the homework that we did, all the diligence we did, the quality of the people we were doing it with, it couldn’t have been a better situation. The market was right for this particular idea. Everything was great and I invested heavily personally, not other people’s money, not money I inherited, not money I borrowed, but money I had in the bank that I earned that was my retirement. I put it all on the line. Guess what? It didn’t work. It was a highly regulated business in Europe and the regulations all changed. No one saw that coming and beer companies didn’t have any problem with it, but a small startup wasn’t prepared to deal with that. It was a chapter 11 bankruptcy. It was not a personal bankruptcy. It was a corporate bankruptcy. But guess what? It was chapter 11, which means debts didn’t go away. I still have to pay them off 100%. But guess what else? I had six years to do it according to the bankruptcy plan and I paid it off in three. My net worth is in the seven figures.”
“My point about that is not bragging. How do you think I felt for a period of time at 62 years old? I knew it was going to go public. Forget about, you know, what am I gonna do? I’m 62 years old. It’s not like I get to, you know, start over, you know, but you just, as an entrepreneur, you learn to reinvent yourself, and that’s exactly what I did. I surrounded myself with really, really good people, and I stayed very, very positive. I stayed grateful for the things I did have and didn’t whine and complain and moan and be miserable about the things that happened to me or the decisions I made. Just Okay, next, let’s do it again. Here we are.
h/t to WrestlingNews.co for the transcription
— WWE on FOX (@WWEonFOX) August 2, 2022