Copyright 2002, Roadracing World Publishing, Inc.

AMA Pro Racing CEO Scott Hollingsworth has denied allegations made by OMS Ltd.’s Fred Bramblett that Hollingsworth is trying to exact revenge on SFX/CCE for a failed business deal Hollingsworth was personally involved in.

On Saturday, Bramblett told roadracingworld.com that Hollingsworth, prior to going to work for the AMA and while working as an investment banker involved with the talent agency FAME, structured a deal to purchase another company and won a bidding war to do so. But when a Letter of Intent to make the purchase expired before the contracts were signed, the then-owner of SFX swooped in and bought the company, leaving Hollingsworth holding the bag, according to Bramblett.

But on Tuesday, February 5, Hollingsworth told cyclenews.com “There is not a shred of truth to it. I was never involved with FAME and there was no letter of intent with any company. It is something that is being spread by an agent of Clear Channel with the intent of harming my reputation. There’s not a shred of truth to it and that’s all I can say at this point.”

Bramblett has been out of the country for several days and could not be reached for further comment.