Near the end of the Monday Night Wars between WCW and WWE, Vince Russo left the WWE and was brought in as the head of Creative for WCW in the hopes of boosting the ratings and turning the struggling company around. Russo did not like all of the politics going on in the dressing room between the wrestlers backstage and was determined to do something about it.
Russo wanted to create new stars and in doing so remove the old guard which was led bythe legendary Hulk Hogan.
The conflict played out on screen on July 9, 2000 at Bash at the Beach. The main event was set for Hogan to face Jeff Jarrett for the WCW championship. Jarrett was favored by Russo and was getting the push to win the WCW championship. Hogan did not like the way the match was scripted and decided to play his creative card clause that was in his contract. When the match began, Jarrett did as Russo ordered and lay down on his back in the middle of the ring. Hogan pleaded for him to get up, but to no avail. Hogan pinned Jarett using his foot and then cut a real promo stating "thats why the company is in the damn shape it's in because of bullshit like this". Hogan left with the belt and moments later Russo came out and addressed the audience. He cut a promo on Hogan, trash talking him to the audience, and promising that Hogan would never be seen again in the WCW, which he never was.
Hogan filed a defamation of character law suit that was eventually thrown out.
This was the breaking point of WCW. Poor management and wrestlers with too much control eventually led to WCW closing its doors for good in March of 2001.