Deposed king of Hollywood Michael Ovitz has finally gone off the deep end — blaming gays for his ruination.

In a stunning on-the-record diatribe in the new issue of Vanity Fair, Ovitz lashed out at what he called Hollywood's "gay Mafia" for stabbing him in the back and secretly wrecking his deals. 

Ovitz's much-hyped show business machine — Artists Management Group — collapsed a year ago and cost Ovitz $200 million out of his own pocket. 

It was snapped up at a bargain $12 million by unknown rock-band agent Jeff Kwatinez — called a cocaine user by people quoted in Vanity Fair. Kwatinez told The Post he once used drugs but doesn't now. 

Ovitz says the decline wasn't all his fault, but was caused by a conspiracy of a group he labels the "gay Mafia" whose members include the openly gay record mogul David Geffen. 

The remarks shocked some Hollywood insiders. USA Chairman Barry Diller responded, saying: "You're not serious. Wow! He said that on the record? Wow . . . wow, wow . . . A statement like that is . . . worse than unfortunate. It's fairly rotten." 

Geffen reacted: "This is so crazy. This is insane. I think he needs a psychiatrist. It's so paranoid, and so crazy, and so irresponsible, and makes him look like such a nut. On a scale of 1 to 10 crazy, it's 11." 

Among his comments, Ovitz said Geffen and New York Times Hollywood correspondent Bernie Weinraub teamed up to smear Ovitz at every turn. 

"If I were to establish the foundation of the negativity, it all comes down to David Geffen and Bernie Weinraub. Everything comes back to those two. It's the same group [quoted] in every article," Ovitz told Vanity Fair

Although several of the "members" of the "gay Mafia" aren't gay, Ovitz said they include Walt Disney Chairman Michael Eisner and Ron Meyer — Ovitz's onetime business partner and currently the COO of Universal Studios. 

Others in the cabal, Ovitz said, are former Ovitz protégés Bryan Lourd, Kevin Huvane and Richard Lovett, as well as talent manager Bernie Brillstein. 

Ovitz says the group is still after him. "And they still hate me. Everyone. 

"David [Geffen] has always hated me. He got Ronnie [Meyer] to turn on me, and then Bryan Lourd and everyone else," said Ovitz. 

"It was the goal of these people to eliminate me," said Ovitz. "This business would have worked except for these five or six guys. They wanted to kill Michael Ovitz." 

At times in his interview Ovitz was close to tears, the magazine said. Ovitz said he is thinking of moving his wife and three kids, perhaps to the Midwest, to protect them. 

Ovitz said the secret cabal also wrecked the three deals he set up to get backing for his struggling AMG group. AT&T had agreed to put in $150 million, but backed out at the last moment, and Disney also mysteriously spiked its $165 million investment deal. Diller also was going to plow in a like amount, with Universal's backing, but also quit without explanation. 

Ovitz says he wants to throw in the towel on Hollywood. "I don't want to work in the business. I've done it enough. I want to do other things." He added: "I've had enough . . . I don't know if it's over for me. I don't know."

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