Hall of Fame quarterback Brett Favre is being sued by investors for $16 million after his failed launch of Sqor Sports.
Brett Favre’s weird post-retirement business portfolio has taken a major blow. Per a report by Deadspin), Favre and executives at Sqor Sports face a $16 million lawsuit over the failed sports social media network company.
Callais Capital Management invested $16 million into Sqor, and CCM is claiming that the company “negligently and/or fraudulently misrepresented” their projected 2018 income as $44 million. According to the lawsuit, Sqor “materially misrepresented” that it had secured over 325 million users and that its social reach was more than 350 million. CCM claims to have put up the $16 million into Sqor to “fund immediate international growth and allow the company to secure up to 10 major Sports Enterprises over the next six months”. Sqor also reportedly claimed that athletes such as Odell Beckham Jr. and Rob Gronkowski were among those active on the network. According to the lawsuit, neither Beckham nor Gronk were using the network at all.
In 2015, Favre made an appearance on CNBC to talk about Sqor.
“I think it’s sort of a snowball effect,” said Favre. “It has taken off way faster . . . than we had I guess dreamed it would have. And athletes — not just your notable faces — but athletes from all over the world in sports I didn’t know existed have signed up on Sqor.”
In a 2016 biography, Jeff Pearlman explains that Sqor Favre got involved with Sqor on a broad level, leading him to endorse a pain ointment called Rx Pro, whose parent company had been investigated by the Justice Department. In 2017, Favre made an appearance on FOX Business Network endorsing a nasal spray that apparently treated concussions.