(UPDATED) THE LOW DOWN: Suit claims Roger Federer involved in illegal betting

Was Roger Federer involved in illegal betting?

So says a lawsuit filed by Agate Printing, Inc. against Theodore Forstmann, owner of IMG and the home to the Swiss superstar's management.

The suit alleges a number of actions by Forstmann not only involving Fed but Tiger Woods as well. The item involving Fed, though, claims Forstmann raised his bet on the 2006 Roland Garros final from $10,000 to $40,000 after receiving "inside information" from the 16-time Grand Slammer. Fed lost that final to Rafael Nadal.

"The allegations in James Agate's complaint are beyond false, they are preposterous," said Michael Sitrick, rep for Forstmann. "Unfortunately, people like Agate look at people like Forstmann as the lottery." The printing company already has admitted to lying and spreading false rumors about the IMG head in a letter sent in April 2009.

Agate, who, according to TMZ, filed the claim due to a breach in contract by Forstmann and because he left tax liabilities on Agate brought on by gambling losses (how the hell does THAT happen?) seems to think they can really hurt Forstmann this time by dragging two of his biggest clients and two of the most recognizable athletes on the planet into the lawsuit. At the very least, they'll get the public's attention. But that's probably about it.

UPDATE: Fed responds to the allegations during his post-match presser in Shanghai today (around 6:10) saying "Since it involves my name, somewhere out there, I know it's 100% not true...":

[Photo(s): Getty Images]

After his US Open win will Nadal grab the biggest piece of the pie?

And the kudos keep on coming in for Rafael Nadal.

The Mallorcan Matador has clinched the season-ending No. 1 ranking for the second time in his career according to the ATP World Tour after winning his first US Open title and completing the Career Slam over the weekend. He also owns this year's Roland Garros and Wimbledon championships and earned three consecutive Masters 1000 Series titles at Monte Carlo, Rome and Madrid.

"It has been an incredible season - one of my best ever, if not the best," he said in a statement. "Winning the US Open together with Roland Garros and Wimbledon, as well as the three back-to-back (ATP World Tour) Masters 1000s in Europe, was not easy. I worked very hard to get back to the top and it feels really good to know I will end the year as No.1."

No kidding. And, as if that awesome news weren't enough an article out today by Bloomberg.com tips the 24-year old to surpass Roger Federer in endorsements by virtue of his achievements so far this year. In August, Fed topped Forbes magazine's list of tennis' top earners with an estimated $43 million in yearly earnings (includes prize money, endorsements, appearance fees, etc.) followed by Maria Sharapova with $24.5 million and  Rafa in third place with $21 million (third place never looked so nice, eh?)

That's a pretty huge leap to the front line but his management agency, IMG Worldwide Inc., is focused on ramping up his visibility here in the U.S. and aligning him with brands that speak to his values.

"Again he proved to everybody that he has no limits,” said Fernando Soler, head of the tennis division at IMG. “He is an amazing ambassador for any brand, and I think that it is our obligation now to target the U.S. market and deliver, for him.”

There's so much more Rafa could be doing in the US market, but I think it'll take a little longer for him not because of his current grasp of the English language (though, like his game, it has improved dramatically over the years) but mostly because of his own desire to find the right balance between tennis, off-court demands and his personal life. I don't think he's interested or could necessarily handle the exposure and demand on his time that too many of these activities would require the way Fed has over the years. They're different breeds. He may opt for less opportunities so he can have more time at home in Mallorca with family and friends, a stated priority for him.

But, that being said, there's still a lot of room for Rafa to grow his 'brand' here even with any set limitations, and certainly with the win at Flushing Meadows the demand is there. And growing.

[Photos: Getty Images]

THE LOW DOWN: R.I.P. TennisWeek.com?

TennisWeek.com is apparently no more.

The IMG-owned website is down today and word has it the company shut it down permanently though no official statement has been released.

Earlier this year the sports marketing giant closed the print version after 35 years and it seems the tough economic climate made the kill complete.

I have to say it's sad to see another staple in the tennis media go down, even though their material wasn't always original. But no hard feelings TW.com - you'll be missed. 

[Photo(s): tennisservedfresh.com]

SIGHTING: Tennis' brightest stars attend IMG's Aussie Open player party

Party time: The start of a Grand Slam always means one thing: player parties! Some of the biggest tennis ballers in the world dropped their racquets and picked up a cocktail (or soda water - whatever) at IMG's party player on the eve of the Aussie Open at Breezes, located in the Crown Towers. They gathered to toast the start of a (hopefully) successful season and the first Grand Slam of the Year.

Maria "Shriek"apova, Daniela Hantuchova, & Nicole Vaidisova

Rafael Nadal & James Blake

Xavier Malisse & Joachim Johansson

BTW - when did Joachim Johansson become so model-boy cute? We need you back!

UPDATE: Thanks to our readers for letting us know these images were from a previous year's event. We're on the search for this year's IMG party pics and will post them if we find any!

(images via getty)