This lawsuit could shake the world of sport management.
Agate Printing, a gambling middle-man company, is suing IMG, one of the biggest sports management companies in the world, and its owner Theodore Forstmann. Agate alleges that the company was betting millions of dollars on sporting evens using insider information.
Forstmann even bet against some of his own clients, most notably Tiger Woods. He also allegedly raised his bet from $10,000 to $40,000 after receiving inside info from Roger Federer on a match.
Michael Sitrick, Forstman├óΓé¼Γäós rep, denied the accusations: “The allegations in James Agate’s complaint are beyond false, they are preposterous.”
Tiger just lost his wife, and now he could lose his manager depending on how this goes down. If he wasn’t so rich we might feel a little sorry for the guy!
[Image via WENN.]