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Beltgate Update: Ric has a very good explanation for all this, he swears...


According to Dave Meltzer in the newest issue of the Wrestling Observer Newsletter, Conbraco, the plumbing and heating valve company that rightfully owns the old NWA World Heavyweight Title belt pictured about is owned by a good friend of Ric Flair.  Apparently, Flair borrowed $300,000 from Conbraco using all of his wrestling memorabilia as collateral "partially"  so said memorabilia would be in the hands of a friend of his, as his now ex-wife Tiffany sold one of his ring robes and he wasn't aware of that fact until the buyer explained it to him at an appearance (while wearing the robe).

As far as Highspots goes, they are hoping that Flair will pay back the Conbraco loan soon, making them the legal owners of the belt, since he used it as collateral to get a loan from them after the Conbraco deal, freeing them to sell it to the highest bidder.  That said, Flair disputes the amount that Highspots says he owes them because he's done autograph sessions for them "above and beyond" what they paid him for.

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