EXCLUSIVE: Big Wilpon Group Update; Speaking With Jarrett

Nick Paglino

The fallout continues from last week’s announcement that the launch of the Milton Wilpon-backed wrestling group has been delayed until at least January, 2011. Once the situation of the promotion’s woes went public with WrestleZone’s Exclusive Story and Mike Johnson’s Report with the actual letter to employees, the usual finger pointing started.

From the side of R. Sean Pascoe, who wrestles in Florida independent organizations, and his partner Peter Karoftis, it appears they are the ones left holding the proverbial bag. Pascoe is the one who had to send out the letter of the delay, despite the fact he was telling several people he was under the impression Milton Wilpon would assume the role of being the public face of the company and would be the one sending out such a notice. Pascoe has told several people that by him sending out the note, he and Karoftis are "catching all the heat" and no one believes in the organization anymore. Pascoe has confided in people that if Wilpon had sent out the memo, "people would just think he’s being cautious."

A lot of people are also wondering what ROH and Dragon Gate PPV distributor Ken Gelman of G-Funk Sports and Entertainment has to do the venture. Gelman is not well liked with ROH circles, since his deal with company entitles him to an "enormous" cut of whatever PPV revenue they would get from their VOD pay per views. One source called Gelman’s commission "a total rape of ROH." It is known that Gelman was involved in the venture, both dealing with Wilpon and also with Kevin Kleinrock, whose Worldwide Wrestling Personified company was being used as the corporate home for the promotion.

Kleinrock’s involvement is unknown to many, as he has kept a low profile since the reports started coming out.

One person who has been talking with Wilpon extensively, WrestleZone can confirm, is Jerry Jarrett, who is looking to open up yet another Southern wrestling territory. It is not known whether Wilpon is looking at a Jarrett deal separately from the original Pascoe-Karoftis-Kleinrock promotion, or if Jarrett is on tap to get involved should the company re-emerge from this major misstep in 2011.

Have a news tip? Attended an event and want to send a live report? Submit it now!