Hall of Fame quarterback Brett Favre may be in some hot water, as the 48-year-old is reportedly being sued by a management firm due to the failed launch of Sqor Sports, a social media startup, according to Daniel Goldblatt and Ryan Naumann of The Blast, citing court documents.
Sqor Sports was reportedly intended to assist in athletes monetizing themselves through social media. Favre first joined the company as a member of its board of directors before becoming a co-owner.
Callais Capital Management (CCM), the firm suing Favre, claims it was convinced by "negligent and fraudulent misrepresentations" that led to its $16-million investment in the company to "fund immediate international growth and allow the company to secure up to 10 major Sports Enterprises over the next six months."
According to CCM, Sqor claimed athletes such as Conor McGregor, Rob Gronkowski, Odell Beckham Jr., and Allen Iverson were using the network. CCM also alleges Sqor told them that it was working toward getting sports teams such as the Chicago Bulls and Los Angeles Lakers as well as NFL players to join the platform.
CCM claims Sqor "materially misrepresented" that it had over 325 million fans, and that its social reach was over 350 million, adding that its user growth metrics exceeded both Twitter and LinkedIn.
Sqor's website is no longer operational, and the lawsuit demands the firms $16.75-million investment be returned along with consequential damages.
During his tenure, Favre allegedly received benefits such as equity, athlete payments, and private jet costs, among others, according to the report.
Favre has yet to comment on the lawsuit.
