How long ago was it wet? Long enough for rust to form? That's about the only reason the motor would get hurt.
Does the motor rotate freely?
What about the lights on the esc? Does it light up? What are the lights doing? Blinking, steady etc. Do the lights respond to throttle command from the transmitter?
Also, did you try to re bind and re learn the esc as suggested? Is your battery fully charged? What type of battery are you using? Lipo or Nimh?