Don Imus is taking the phrase “bitch better have my money” to a new level.

The veteran shock jock, who was fired last month by CBS is now allegedly preparing to sue the company, to the tune of $40 million.

Imus has enlisted free speech attorney Martin Garbus, whose past list of clients include Hip Hop pioneers Public Enemy and Spike Lee.

“We expect to file a complaint by the end of next week alleging breach of contract” Garbus stated. “The contract Imus originally signed with CBS shows that the company knew and agreed that the 66-year-old jocks content could, and would be unique, extraordinary, irreverent, intellectual, topical, controversial.”

In the eyes of CBS, “controversy” and “racial” aren’t synonymous.

After Imus unloaded the now infamous “nappy headed hoe” comment on the women’s basketball team at Rutgers University, controversy mounted as sponsors withdrew financial support from the top rated, Imus in the Morning show. Imus was terminated by both CBS and MSNBC.

CBS stands behind their decision to fire Imus and vows to fight the suit, should it ever make it to court.

“We terminated Mr. Imus for cause,” CBS said in a statement. “Based on the comments in question and relevant contract terms, we believe that the termination was appropriate and CBS would expect to prevail in any attempt by Mr. Imus to recover money for his actions.”

Garbus plans to file papers with the state Supreme Court in Manhattan .