Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Tiger's Manager Sued Over Alleged Shady Betting

10/13/2010 7:20 PM PDT BY TMZ STAFF

A blockbuster lawsuit was just filed against the company that manages Roger Federer and Tiger Woods, alleging the owner of the company bet millions of dollars on sporting events, used inside information to wager on a Federer match and bet against his own client, Tiger Woods.    

IMG -- one of the biggest sports management companies in the world -- is being sued by a printing company, which allegedly served as a gambling go-between and even provided escorts for the owner of IMG, Theodore Forstmann.

According to the suit, filed in L.A. County Superior Court and obtained by TMZ, Agate Printing, Inc. claims it made millions of dollars in bets on Forstmann's behalf, and that Forstmann covered some of his losses on IMG accounts.

The suit claims Forstmann actually bet against some of his own clients -- in particular Tiger Woods.  In one case Forstmann allegedly bet against Tiger when he was competing against Vijay Singh, a "so-called close personal friend" of Forstmann and client of IMG at the time.

The suit alleges Forstmann loathed Tiger, often referring to him and other African Americans as "schwartzas" -- and allegedly making other derogatory comments about "blacks, Jewish people, and other minorities."  The suit alleges Forstmann also criticized Woods' lifestyle decisions.

And the suit goes on, alleging tennis star Roger Federer gave Forstmann inside information about a tennis match in which Federer competed. The suit claims in one case Forstmann raised his bet from $10,000 to $40,000 after receiving the inside info from Federer.  We're told the match in question was the 2007 French Open final.  Ironically, Federer lost to Rafael Nadal.

The reason Agate filed suit -- because Forstmann allegedly breached an agreement to give his company printing business.  Agate also claims Forstmann left his company holding the bag on tax liabilities for the gambling losses.

Forstmann's rep, Michael Sitrick, tells TMZ, "The allegations in James Agate's complaint are beyond false, they are preposterous."  Sitrick also says in an April, 2009 letter, Agate admitted concocting lies and spreading false information about Forstmann. 

Sitrick says Agate filed a similar lawsuit against Forstmann in 2008 which was dismissed.  And Sitrick says, "Unfortunately, people like Agate look at people like Forstmann as the lottery." 

No immediate comment from Federer's rep.

To read Sitrick's full response on Forstmann's behalf, click here.

For more sports stories, check out tmzsports.com!

No Avatar


Non Story! Why hasn't TMZ covered Tiger sucking Uchitels Penis?

1437 days ago


Well, it's now being reported that members of our mostly democrat congress have been buying up stocks of companies that they know will profit hugely from legislation they eventually pass. That's called "insider trading" and is absolutely illegal. Does anyone care to do anything about this now or do we have to wait until the Republicans take back congress? Obama has promised to push through a new environmental bill that will heavily enrich some high technology companies and cause a lot of the manufacturing companies to shut down or move overseas. I would like to be able to think that the bill gets passed because it will improve our economy but can't under these cir***stances.

1437 days ago


This type of stuff goes on every day. Does not sound like a strong case to me. It is not like it is insider trading as in the stock market.

Over and above that though, it is interesting that Roger Federer is named in this suit, not because of any supposed insider info he may have given the IMG owner about a tennis match, but because Roger's image is so unscathed especially for a world sports champion. He is supposed to be the perfect faithful husband and family man. However rumors have been swirling about his sexual orientation for years. Personally I have never bought the squeaky clean image he portrays. There must be some skeletons in this man's closet. I sure hope he is not a fraud like his friend Tiger Woods.

1437 days ago


ITs quite crappy of TMZ to imply racism by use of the term "schwartzes" - the man in question has adopted 2 South African orphans, for your information.

1437 days ago


First off fortsman is NOT Tiger or Federer's "manager." He owns the company that represents them. Tiger's agent is Steinberg, once again TMZ using Tiger's name to sell more ads and get idiots to read in to something that isn't close to being true.

1437 days ago
Previous 15 Comments | 1 | 2

Around The Web