(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]

Lleyton being sued by Octagon, earning details revealed

It's tough times for Lleyton Hewitt.

The 2-time Grand Slammer, who was upset on his 28th birthday in the Delray Beach first round by Lu Yen-Hsun 7-5, 2-6, 6-2, is being sued by his former management company, U.S.-based Octagon, for "breaching the Trade Practices Act, reneging on agreements and breaching exclusive contracts." They believe they're due to a bigger slice of his monies from 2000 and beyond.

Lleyton has filed a countersuit which accused them of misleading and deceptive conduct, unjust enrichment and management incompetence. He and Octagon parted ways in late 2004.

Due to the lawsuit, many of the Aussie hothead's earnings were revealed including:

- In 2005 and 2006 Lleyton was paid $6.75 million from endorsements and tournament guarantees

- New Idea magazine paid him $84,000, Nike $3.5 million, Yonex racquets $2.3 million and Optus $130,000, it is claimed. Lleyton received $330,000 from endorsing tennis games for two video companies

- Tournament organisers in Sydney, Adelaide and London paid him $340,000 in appearance fees

In addition to the lawsuit, Lleyton has been reportedly considering a move to the U.S. to ease the burden of travel and accomodate his family.

I'm sure this lawsuit and his desire to move are a huge distraction to him right now, particularly as he tries to come back from last August's hip surgery. But, in all honestly Lleyton's best days are way behind him.

(image via Getty)