Fall Out Boy opening New York bar

Fall Out Boy bassist Pete Wentz is opening a bar in New York City. According to New York magazine, Wentz, his managers and members of Gym Class Heroes are launching a new watering hole called Angels and Kings, also known as AK-47, on 11th Street near Avenue A in Manhattan's East Village. The bar is scheduled to open on Monday, April 30th. As for why he decided to invest in the volatile New York nightlife scene, Wentz said, "When I go to New York, I always have to pick between crappy clubs and then call the promoter ahead of time and then still get hassled at the door and get stuffed into some cramped stupid VIP section and hear bad techno."

The new venue was described by Wentz as "a bar for all the rejects." He added, "I'm not trying to make it cool. It's not being designed for dudes with Rod Stewart hair and white belts to go hang out at, you know?"

Wentz said he came up with the design for the bar as well as its promotional T-shirts. He added that the restrooms will be interchangeable and that the club might also feature karaoke.

Panic! At The Disco was reportedly interested in investing, but its members are not yet of drinking age.

Wentz did not say whether his reported current squeeze, Ashlee Simpson, would drop by the establishment.

Fall Out Boy will begin the 2007 Honda Civic Tour on May 11th in Denver. The tour's start was delayed from April 18th due to what the band called "personal issues."