A potential sex scandal involving the Minnesota Vikings quarterback could seriously impair his earnings potential, with one estimate saying it could cost him $100 million in lost earnings if things turn out badly.
The scandal broke last week when DeadSpin.com released racy photos and text messages purportedly sent by Favre in 2008 to a woman who served as a sideline reporter for Favre’s former team, the New York Jets.
If the NFL decides to suspend Favre, it could cost him $10 million annually during an assumed 10-year post-retirement career as an endorser, speaker and studio analyst, according to Forbes.
Favre raked in an estimated $7 million in endorsements last year from a number of products, including Wrangler jeans, Snapper lawnmowers and Remington hunting rifles.
He was also in commercials for MasterCard (NYSE:MA), Nike (NYSE:NKE), Daimler’s Smart Car, Starter and Procter & Gamble’s (NYSE:PG) Prilosec OTC.
It’s not just about corporate sponsorship, as some ex-athletes rake in $1 million as TV analysts for networks like Walt Disney’s (NYSE:DIS) ESPN and CBS (NYSE:CBS).
Before the scandal broke, Favre was considered very marketable, ranking 301st out of 2,599 celebrities on the Davie-Brown Index, which is used to quantify a celebrity's ability to influence consumer decisions.
Forbes estimates people with Favre’s cache earn $25,000 to $50,000 per speaking appearance.
Caught up in a potential sex scandal, football great Brett Favre risks plenty, financially. Forbes estimates it could cost him $10 million a year in lost endorsements and other sources of income.