IMG has "settled its lawsuit" with former VP/Racquet
Sports Jeff Schwartz, who the company "alleged stole" three
of its tennis clients, according to Bill Lubinger of the
Cleveland PLAIN DEALER. In an "unusual agreement," IMG will
continue to "exclusively represent" Pete Sampras and Marcelo
Rios on marketing and financial matters, while Schwartz
"will serve as their personal and business manager." The
two sides "would not release information" regarding the
status of Martina Hingis, another one of Schwartz's clients
while he was at IMG. Attorneys for IMG and Schwartz, who
were in a Cleveland court on Tuesday for a hearing regarding
the return of "confidential" IMG documents allegedly
obtained by Schwartz, "arrived instead with a preliminary
settlement." After 2 1/2 hours of discussions, the sides
announced the settlement (PLAIN DEALER, 3/24). The
SportsBusiness Journal's Josh Gotthelf reports in THE DAILY
this morning that IMG and Schwartz will jointly represent
Sampras and Rios for about five years, while Schwartz's non-
compete agreement with IMG will remain in place for two
years, meaning he won't be able to represent other tennis
clients. Sources also tell Gotthelf that Hingis will now
sign with Advantage Int'l (See THE DAILY, 3/7).
