Breaking News: Ring of Honor Sues Ric Flair

Steven RansiearCorrespondent IJanuary 29, 2010

Ring of Honor has filed a lawsuit against Ric Flair, alleging that he owes the company $40,000.

ROH agreed to give Ric Flair $10,000 per appearance when he signed on with the company last year. Flair missed a date in Montreal and has not paid back the $10,000 for that show.

Ring of Honor also agreed to pay Flair $35,000 to become the authority figure on ROH's Monday night show on HDNet.

Flair only made one appearance, then announced to the fans he was resigning because of his relationship with the WWE. But Flair never returned to the WWE and is now in TNA.

The rumor circulating as to why Flair signed with ROH was that he wanted his son Reid to work there as well. However, Reid Flair was arrested on drug charges and never debuted for ROH.

Ric Flair's financial troubles have been talked about during the past year, when rumors surfaced of him owing multiple people and promotions money.