Source: PWInsider

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.

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