WRESTLING NEWS
Ric Flair Finance Was One Of The Nature Boy's More Ridiculous Endeavors
By RANCE MORRIS
Although Ric Flair has flaunted his financial success, he’s also had his fair share of financial troubles like not paying taxes for a portion of his career and having to pay hefty amounts of alimony to his four ex-wives. Moreover, Flair had also started a business that hurt him financially and placed him in a legal problem.
In September 2007, Ric Flair and his business partner Chris Porter set up Ric Flair Finance, an online mortgage company based on Flair’s popularity. They hoped to generate leads with the company and then refer them to lenders, even advertising the establishment on WWE television and before a NASCAR race in Delaware.
Flair discovered that this business model was “completely illegal,” and the state of North Carolina shut down the company for noncompliance and not possessing a broker’s license, which Porter told Flair they didn’t need. Porter sued Flair for $115,000 on a $140,000 loan and also filed for bankruptcy following the closure of the company.