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Former ECW General Manager and Urban Wrestling Federation owner Steve Karel is investing in Combat Zone Wrestling and will become involved in overseeing the promotion going forward, PWInsider.com can confirm.
While an official announcement is likely forthcoming, all sides officially came to an agreement earlier this week in New York City. Karel will be bringing some financial backing to the long-running New Jersey/Philadelphia promotion, which has been running since 1999. We are told that Karel will be bringing in his managerial expertise and obviously, contacts in the TV and PPV industry. There is no sign there will be any changes to the company's creative at this point.
Karel and CZW have been circling a deal for a some time.
Karel's Stonecutter Media LLC has been licensing content from the promotion for their own PPV series and at one point, the two sides had plans to broadcast a live series of PPVs, so its possible that could be resurrected.
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