The official website of The Honky Tonk Man has a news article online talking about the WWE Legend declining a bid for the WWE Hall of Fame. According to his official website, negotiations with WWE started on January 22nd and ended January 27th.
The biggest reason The Honky Tonk Man declined was he is already booked for the Wizard World Comic Con in Toronto on the same date WWE wanted him for the Hall of Fame. The Wizard date pays "10 times more" than WWE was offering.
You can read coverage of The Honky Tonk Man declining the bid at this link.
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