sport news Brett Favre fallout continues: Ex-US Soccer star Abby Wambach will DIVEST from ... trends now
After Brett Favre was linked to a $77 million welfare fraud scheme in Mississippi, retired US soccer legend Abby Wambach has now announced her intention to divest from a concussion drug company backed by the retired Green Bay Packers quarterback.
Wambach is an advisory board member for Odyssey Health, which developed a concussion drug, that allegedly received $2.1 million in funding that was intended for Mississippi welfare recipients, according to a state civil lawsuit.
Favre is the top investor in Odyssey Health, formerly known as Prevacus, from which Wambach is now divesting.
'Minutes after learning this new information, I initiated the process to immediately and fully divest myself from any involvement -- financial and otherwise -- with Prevacus/Odyssey Health Inc., a process that I insisted be complete by end of day today,' Wambach wrote in an email to ESPN.com on Thursday.
Wambach told ESPN she had been unaware about the 'disturbing information' regarding Odyssey Health, and was only invested in the company as a way to reduce concussions in athletes.
After Brett Favre (left) was linked to a $77 million welfare fraud scheme in Mississippi, retired US soccer legend Abby Wambach (right) has now announced her intention to divest from a concussion drug company backed by the retired Green Bay Packers quarterback. Wambach is an advisory board member for Odyssey Health, which developed a concussion drug, that allegedly received $2.1 million in funding that was intended for Mississippi welfare recipients, according to a state civil lawsuit
Favre is the top investor in Odyssey Health, formerly known as Prevacus, from which Wambach is now divesting. Prevacus was developing a nasal inhaler designed to treat the effects of mild traumatic brain injuries and concussions. The idea was that it would be cheap and widely available, and without any side effects, could be used with or without a firm concussion diagnosis. Youth sports coaches could administer the drug whenever an athlete was suspected of suffering a head injury, and in theory, would reduce the long-term risks associated with concussions. Odyssey Health purchased Prevacus in 2021
Favre, former NFL quarterback Kurt Warner, and Wambach were all invested in Odyssey Health and discussed Prevacus in a series of interviews with DailyMail.com in 2018. Now, though, her name is no longer listed on the company website.
'Since I genuinely believed this company was being transparent about a product that could spare the next generation of athletes from the severe impact of concussion injuries that I endured as a professional athlete, I am profoundly angry, disappointed, and saddened by what I learned today,' wrote Wambach, who has pledged to posthumously donate her brain for concussion research.
The lawsuit filed in May said Favre at one time was the largest individual outside investor and stockholder of Odyssey Health, a Florida-based company that was trying to develop a concussion drug. The suit said that in December 2018, Favre urged Prevacus CEO Jake VanLandingham to ask Nancy New, the owner of a Mississippi nonprofit, to use welfare grant money to invest in the company.
The suit also said Favre hosted a Prevacus stock sales presentation at his home in January 2019, attended by VanLandingham, John Davis, then the state's human services director, New, her son, Zach, and wrestler Ted DiBiase Jr., and that an agreement was reached to spend 'substantial' welfare grant money in Prevacus and later in its corporate affiliate PreSolMD Inc.
The company received $2.1 million over the next 10 months which had been earmarked for the state's welfare fund. Officially, the funding diverted to Prevacus was 'for the purpose of securing ''clinical trial sites'' to be located within Mississippi,' according to the lawsuit, provided to DailyMail.com.
Instead, the suit claims, the money was used by individuals to purchase stock in the company.
The state accused Favre, VanLandingham and others of agreeing, in writing, to obtain welfare funds as part of a 'sham' to conceal financial benefits to the conspirators.
Favre has not been charged in the ongoing scandal, but has been linked to the scandal to divert $77 million in welfare to various individuals and pet projects.
His charity aimed at helping disadvantaged, disabled children and breast cancer patients donated more than $130,000 to the University of Southern Mississippi Athletic Foundation from 2018 to 2020, according to recently surfaced tax documents obtained by The Athletic and ESPN.
It was during this time that Favre was working to finance a new volleyball stadium at the school – a project that has fallen under the microscope amid the largest public fraud case in Mississippi history. Recently surfaced text messages show Favre's efforts to divert $5 million in state welfare to the project.
Favre, a Southern Miss alumnus whose daughter played volleyball for the Golden Eagles, personally received $1 million in welfare for no-show speaking gigs.
Although he has repaid the money,
