Hulk Hogan's Gawker Lawsuit PayDay Greatly Reduced From Original Amount Awarded

Hulk Hogan's payday isn't going to be as big as originally thought, brother.

A report in The NY Post says that a federal judge in Manhattan has approved a bankruptcy plan for Gawker that includes a $31 million settlement, payable to the WWE Hall of Famer.

Chris Jericho Explains How He's The AEW Locker Room Leader, Feeling Like Vince McMahon

Gawker had posted a video of Hogan having sex with the wife of then-best friend Bubba the Love Sponge. In this video, Hogan was recorded making racist statements, which led to the WWE distancing itself from him. He was removed as a judge on Tough Enough and has not appeared on WWE TV since the racist remarks were reported.

Hogan sued Gawker media and was awarded $140 million by a Florida jury in June. The verdict included $60 million for emotional distress, $55 million in economic damages, and $25 million in punitive damages. Hogan tried to collect on the full amount, which would have effectively bankrupted the company.

When speaking about the $31 million settlement, Gawker's lawyer Gregg Galardi called it "very favorable" as it represents only a fraction of the original amount awarded.

Hogan is expected to receive payment of the settlement by the end of this year.

Get exclusive combat sports content on Fightful Select, our premium news service! Click here to learn more.
From The Web