The veteran music manager helped promote a number of huge acts during his career - including Alice Cooper, Teddy Pendergrass and Pink Floyd - but until recently, had rejected all invitations to bring his story to the silver screen.
Reflecting on the documentary, 'Supermensch: The Legend of Shep Gordon', he told BANG Showbiz: ''I met Mike on 'Wayne's World' and then he came to Hawaii and we became friends. He bought a house on Maui, where I live, and he loved all my stories and for years he's been asking me about doing [the film].
''I didn't see any reason to do it other than ego ... then I had some surgery, was heavily medicated and feeling sorry for myself. Later I called him and said, 'Yeah, let's do this'.''
Despite being close friends now, Shep admits he and Mike disagreed over which Alice Cooper song - 'School's Out' or 'Freak My Frankenstein' - was to be included in 'Wayne's World' when they first met.
He added: ''In the end, we compromised and put both in the movie, and we came away respecting each other. And then I heard he was in Hawaii and I invited him by for dinner and then started a real friendship.''
'Supermensch: The Legend of Shep Gordon' is in cinemas now. See www.supermenschthemovie.com for more details.
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