October 21 [12:00 EDT] -- The Boston Globe reports that former Aerosmith manager Tim Collins reached an undisclosed settlement with the band earlier this month worth millions of dollars. Collins, fired abruptly last summer prior to the release of their album "Nine Lives," will reportedly be receiving payments for the next 15 years. Shortly after the split, Collins had told reporters in a bit of sabre rattling that he intended to sue for half their assets, just like in any divorce.
Collins, at the helm for 14 years, has traditionally taken credit as the key man who cleaned up the drug-addled on-the-skids rock band and helped resurrect their failing careers. A recent book, "Walk This Way," authorized by the band credits Collins in the band's early stages but then says that Collins turned into "a sobriety Nazi." It paints Collins as "a manipulative, controlling type who saw lurking addiction and dependency around every corner," according to the Globe. Collins told the Globe the
book was "fiction."
Collins remains in the management game. Sources say he's about to close a deal to manage a new Boston band called Ruby Horse.