This argument has been made for the past 15 years. When Hogan debuted in WCW back in 1994 everyone was saying he was told old and he wouldn't draw like he use to.
That was in 1994. It's currently 2009, Hulk Hogan is 56 years old, has both knees and at least one hip surgically replaced and his back has as many twists and turns in it as Dead Man's Curve. His body is so torn up that it's been said he can't even do his leg drop anymore. As far as being a credible wrestler capable of working competitive matches, Hogan is well past it.
Then when WCW folded and the nWo debuted in the WWE a year later, the same thing was being said, and then he proved them wrong at WM18 in the match with the Rock and when he went back to the red and yellow he was arguably the most over guy in the WWE for a while again.
Yes, he was for a few months until the nostalgia factor wore off. What TNA is hoping for is sustained interest in their program and product, not for a flash in the pan that burns out quickly.
And there was that Memphis show, but lets face it, that was a one night only show with little build up, and was sabotaged by Vince McMahon and NBC about a week before it by forcing all WWE talent to pull from the show, including Jerry Lawler, who was suppose to be Hogans opponent, and what build up the did have was based on this match.
They advertised the shit out of that match in the Memphis area. Hogan was copromoting the show. Fliers were put up and handed out, Hogan was on local radio and television hyping the match. Don't try to say that they didn't advertise the event because that's bullshit. The show wasn't sabotaged, it just simply didn't draw. By the time Lawler was pulled from the show because of contractual obligations, it was just days before the show took place and everyone that had purchased tickets to come see the show had bought them prior to Lawler's replacement. The show simply did not draw, that's all there is to it. By the time Lawler was replaced with Paul Wight, everything was already set in motion.
And it still drew 2,200 which I dont know if they papered that or not, but that is just a little less than the attendance for TNA's BFG this year which was reportedly very heavily papered.
Yes, it drew 2,200 and was considerably less than they were hoping for. The FedExForum, which is where the event was held, has a maximum capacity of over 18,000 seats. Hogan was the biggest draw in the history of the business, still is overall, and that's the primary reason why TNA hired him. They're hoping that his name would draw just as Memphis Wrestling owner Corey Maclin was hoping that by copromoting the event with Hogan, thereby adding Hogan's star power, would draw for the show.