Tharpe trying to strongarm NWA
Jul 18, 2012 - by Dr. Jerry Wiseman
According to sources NWA members were presented with a solution to the legal woes that have plagued the LLC since R. Bruce Tharpe filed suit against the company claiming insurance fraud. Late yesterday afternoon communication was sent to members of the NWA asking them to vote on a proposal that would see R. Bruce Tharpe gain control of the NWA and if approved would also see the lawsuit against former Executive Director Robert Trobich and the members of the NWA Board of Directors being dropped.
Tharpe and his supporters would effectively take over the NWA and its day-to-day operations and there are said to be sweeping changes that would be put in place almost immediately. Among the proposed modifications would be a per show fee of $250 that all promotions running under the NWA banner would pay to the NWA (Tharpe) to help offset costs associated with a proposed national TV distribution deal. Also promotions within the NWA would have to book one of the “NWA Champions” on each show they ran. Both of those suggestions would effectively force smaller promotions to drop out of the NWA and would severely cut into the bottom line for more successful groups like NWA Hollywood.
A number of promoters are considering forming their own governing body if the vote to allow Tharpe to assume control of the NWA goes through. David “Slim” Baucom, the current Executive Director of the NWA (although Trobich is still listed as the “manager” for the LLC according to the NC Secretary of State) would still hold that position but it is believed a several others are expected to resign.
There are a number of legal questions concerning this initiative including whether or not the vote has to be unanimous or majority and what would happen if the majority of members abstained from voting.
A new Board of Directors is set to be put in place during the October meetings but that could happen sooner and the meetings rescheduled due to these latest events.
As of this writing there has been little activity concerning the vote and little conversation among the members.
There is speculation that Tharpe will attempt to weed out under performing promotions and eventually settle on a finite number of members who would then pool their financial resources as well as talent and try to bring the NWA to the forefront of wrestling again with a promotion being run similar to Ring of Honor or TNA.
More on this as it becomes available…
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