Source: Pwinsider.com

A new wrestling promotion is starting up out of Florida. The promotion, which has quietly been putting together a business plan, is said to have major financial backing. The new promotion is already signing wrestlers up, and along with the contracts, are having them sign confidentiality agreements.

There is no name known for the promotion at this time, but it is known that they will not actively do anything until the fall. A full promotional launch is expected at the beginning of 2011, As of this time, there is no information of TV deals or TV tapings.

Businessman Peter Karoftis is said to be the main backer for the promotion. Karoftis previously worked with Sterling Equities, which is a New York-based investment firm that owns The New York Mets organization, the SNY cable network, and several real estate and investment companies. Karoftis, along with Florida independent wrestler Sean Davis are said to be the core of the company right now.

Also working with the company are Kevin Kleinrock (Viva La Lucha, Wrestling Society X), Cody Michaels (WSX, XPW) and Mister Saint Laurent (longtime Florida promoter). Kleinrock will be working production, while it is expected that Laurent will work on the creative end. Laurent has previously promoted the "I Believe In Wrestling" company, and there may be a crossover between the new company and the "I Believe In Wrestling" talent and wrestling school.

As of this time, the only confirmed name to sign with the company is Sean Waltman. Many wrestlers asked about the company have declined comment, due to the confidentiality agreements.

Curious. I'll be interested in seeing who they sign and what kind of wrestling company they will be.

This could be good. Wrestling was at it's best when there were two big companies, WWE(WWF) and WCW, going head to head for ratings and talent. Both tried to one up each other and it led to the most interesting storylines. TNA just hasn't quite filled the role that WCW played opposite the WWE in terms of level competition.

That said, many upstart wrestling companies have tried to hit it big, most have failed.

part of the reason TNA hasn't filled the WCW void is because it's falling into the same mistakes that WCW made, and fans have learned from those mistakes. Mistakes like relying more heavily on older WWE talent(Ric Flair, Hulk Hogan, Kurt Angle, Booker T, etc.) and less and less on their original talent. That's why i've stopped paying attention to TNA. TNA at it's best had some great original talent that always had time to shine-AJ Styles, Christopher Daniels, Petey Williams, Sonjay Dutt, etc. and now they're just lost in the shuffle.

and both WWE and WCW were pushed as to what defines good programming and great matches by a third company-ECW.

ROH is where the good(indie) wrestlers are now

Ring of Honor started with some decent ideas, but now it's not that much different than the big two as far as im concerned.

I welcome any new major competition, so WWE will actually put some effort into their work.

melvinlikechris wrote:I welcome any new major competition, so WWE will actually put some effort into their work.

Amen.

azrael07 wrote:Ring of Honor started with some decent ideas, but now it's not that much different than the big two as far as im concerned.

Is Ring of Honor televised?

melvinlikechris wrote:I welcome any new major competition, so WWE will actually put some effort into their work.

It would be nice if they actually thought that another brand was actually a threat. They don't even consider TNA in their league.