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T.O. to Wranglers I Want an Apology ... and a LOT of Money!!!

6/3/2012 11:33 AM PDT

Terrell Owens to Allen Wranglers -- I Want an Apology ... and a LOT of Money!!!


Terrell Owens
has given the Allen Wranglers an ultimatum -- issue a public apology and cut him a check for the more than $160k he claims they owe him ... or he'll take them to court ... a source close to the football star tells TMZ.

As TMZ first reported, Owens has been considering filing a lawsuit against his former Indoor Football League employers ever since they 86'd him last week. Owens claims they breached his contract when they cut him loose for allegedly skipping a children's hospital visit.

According to our sources, T.O. and his legal team fired off a letter on Friday to Wranglers owner Jon Frankel. We're told T.O. wants a public retraction regarding the team's allegations that T.O. missed the event on purpose -- because T.O. claims the team privately acknowledged a team publicist mixed up the dates.

As for the money ... our sources say T.O. claims he is owed $160,000 (or 4 game checks) the team still has not paid him. T.O. also claims the team owes him 50% of merchandise, tickets and concessions from his time with the team.

We're told if the apology and the money don't come by Tuesday, T.O.'s next step will be to sue. Watch TMZ Sports on FS1 Get the new TMZ Sports app!


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