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Hogan Discusses Condo In Courtroom

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By KEITH MORELLI The Tampa Tribune

Published: August 14, 2008

CLEARWATER - The very messy, very public divorce of Hulk Hogan and his wife of 24 years, Linda Bollea, focused on some Nevada real estate Wednesday morning.

At issue is a condominium in Las Vegas that Hogan, whose real name is Terry Bollea, and his wife agreed to purchase while still together three years ago. In the balance are millions of dollars in cost and future investment.

Attorneys for the former professional wrestler, who now calls himself an entertainer, are trying to back out of the deal because of plunging land values in Las Vegas. Hogan, from the stand, said he thinks the $4.2 million condominium is not worth what he had agreed to pay.

Under questioning by J.A. Barranco, who represents Linda Bollea, Hogan said he had established a limited liability corporation to buy the condominium but has balked at closing. The condominium sellers have set Friday as the deadline to close. Hogan and Bollea stand to lose an $840,000 deposit.

Barranco sought to have Circuit Judge George W. Greer compel Hogan to close on the condo, but Greer said he wanted to hear Hogan's motion to withdraw from the real estate agreement, filed by his attorney Ann Kerr, before making a ruling.

Wednesday afternoon, two property appraisers from Las Vegas were to testify by telephone. Barranco said the appraisals differ by $1 million.

Several other motions, mostly routine discovery issues, are scheduled for today.

The divorce was filed by Bollea last fall, three months after the couple's 16-year-old son, Nick, was in a car crash that severely injured his passenger, whose family plans to file a civil lawsuit naming Hogan and Bollea as defendants.

After the wreck, Hogan established nine limited liability corporations to protect his assets, he said Wednesday.

Hogan denied violating the court's order forcing him to use previously frozen assets to buy the condominium.

"When the judge makes his decision after hearing all the facts," Hogan said, "I will do whatever he tells me."

Reporter Keith Morelli can be reached at kmorelli@tampatrib.com or (813) 259-7760.

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