Filed under: FanHouse ExclusiveThe smear campaign is working and Jim Agate appears to be scum, financially desperate and baselessly suing one of the richest men in the world. After all, Teddy Forstmann, CEO of IMG, is a billionaire and one of the most powerful men in the sports world. Agate, who filed a lawsuit claiming he was the go-between for Forstmann with Costa Rican gambling houses, is not.
IMG has aggressively said that Agate tried this lawsuit once before and it was "thrown out,'' and that Agate later sent a letter to Forstmann apologizing for "falsely attacking'' him. IMG even sent me a copy of that letter.
But documents FanHouse obtained this week from sources close to the situation show Forstmann apparently paid Agate $575,000 in hush money over the past 18 months as part of a legal settlement to make that first case disappear.
And the apology? Term No. 6 in the settlement says this: "Agate will deliver a letter to Forstmann in which Agate apologizes for his conduct directed at Mr. Forstmann ...''
Did Agate's apology show a mentally unstable man, as IMG portrayed, or one cutting a deal with a rich guy who wants his problems to go away?
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