Van Halen Icon Rejects Stunning Money Offer


Van Halen icon, Sammy Hagar was interviewed on a new edition of Lance Armstrong’s show, The Forward Podcast. Here, the former Van Halen frontman shares the business side of things as he discusses how he “got f**ked” in a business deal, as he rejected an initial offer for a different offer. Alternative Nation transcribed Hagar and Armstrong’s comments.

Armstrong: Not to get too much into it –

Hagar: Nah man, you can get into what you want.

Armstrong: You sold Cabo Wabo to Campari group for ninety million dollars. Good investors?

Hagar: Well, it was one-hundred million dollars but I wanted to keep twenty-percent. I got greedy which is the last thing that anybody should ever do in their lives I have a new album called Space Between which is about – money, greed, enlightenment and truth. Greed is the stumbling block for everything and everyone, and we are all greedy. I mean here, guys give me a hundred million bucks and I say: “well I wanna keep twenty-percent” because I was going: “they’ll build this brand they launched, launched it worldwide and my twenty percent will be worth another one hundred million.”

Armstrong: You wanted two bites of the apple?

Hagar: I did, yeah, it was wrong and I got fucked. So I ended up with ninety-three million. However, when I sold it back I got thirteen for what was worth twenty at the first time. I saw back seven years later, and because they’re a big company they said: “oh, our overhead and now our ten percent of this and so here’s your blah blah” Sure, I was getting twenty percent royalties and I’m going: “they’re dying with my brand, ya know!” I was making all that money but they weren’t. It’s just the way they build a brand a brand, they put thirteen people on payroll for just that brand, all these things.

Armstrong: So you owned it outright?

Hagar: Owned it outright. So then 93 went to me, I had a fourteen percent partner in Mexico.

Armstrong: Wow, good for you, man.

Hagar: Oh no, that’s a lot of scratch and that’s partly why I’m so happy.


Hagar: I’m not worried about anything.

Armstrong: You know when you were over here giving me the stuff about how you’re happy, how you’ve embraced your fame and all this bullshit, I’m literally just sitting here in my head going: “the guy sold his tequila brand for a hundred million dollars, he doesn’t give a shit about anything and he’s got a hot wife”

Hagar: Oh I give a shit about a lot of things!

Armstrong: “He’s got a band that he loves and is in Austin, Texas and I’m I’m like, no wonder he’s so happy”