This is a rush transcript from "On the Record ," July 15, 2008. This copy may not be in its final form and may be updated.

GRETA VAN SUSTEREN, FOX NEWS HOST: But first, part two of our interview with Packer legend Brett Favre. Is Brett Favre going back to Green Bay? Could Aaron Rodgers, the man groomed to replace Favre, be demoted to a back-up role again? For the first time, Brett Favre reveals whether he has talked to Rodgers and gives his feelings about the young quarterback. You will hear all that and much more.

(BEGIN VIDEOTAPE)

VAN SUSTEREN: Let me ask you something. Right now, are the Packers paying you any money?

BRETT FAVRE, FORMER GREEN BAY PACKERS QB: No.

VAN SUSTEREN: OK. So you're, quote, "retired" at least?

FAVRE: Retired.

Watch Part 1 of Greta's interview with Brett Favre | Part 2

VAN SUSTEREN: All right. And what -- what you want is to -- since they don't want you back -- at least, they've sent that message to you because they say they've moved on -- you want to be released so you can pursue whatever you want, in terms of...

FAVRE: Play for whoever.

VAN SUSTEREN: OK.

FAVRE: You know?

VAN SUSTEREN: And they want to, quote, "trade" you instead.

FAVRE: Maybe.

VAN SUSTEREN: Maybe. Maybe trade you or put you on the bench. If they trade you, they can -- they can -- they can basically hide you on a team that they know the Packers won't compete with or that doesn't have a Super Bowl chance. Is that...

FAVRE: I would say that's exactly right. And they haven't even talked about trade. It's been, We'll welcome Brett back. You know, He'll have to understand he'll be a back-up.

VAN SUSTEREN: Why not do that? I mean -- I mean, if you look at it, Aaron Rodgers -- I mean, I hope he's a healthy man, but he hasn't started a game in -- you've have started the last 275. I think that's the number. And he's been injured twice. You know, I don't know...

(CROSSTALK)

VAN SUSTEREN: Is this, like, a real health -- I mean...

FAVRE: I feel like -- you know, the one thing (INAUDIBLE) I do feel bad for Aaron a little bit. I think he'll do a fine job, to be totally honest with you. I do. He has been injured. I mean, the two injuries are not his fault, couldn't control. I know this has been tough on him. I think he'll do a fine job. And this has nothing to do with him, this whole deal.

If they want to make me a back-up -- the thing is, they've been preaching about, We want to protect Brett's legacy, and we think he should -- and we both know how -- you know, what that's about. How does that protect my legacy if I'm a back-up? You know -- you know, Brett, we'll welcome you back, we'll pay you $12 million, but you got to hold the clipboard and ballcap (ph).

That's probably better for them, as opposed to letting me go somewhere and me coming back. Then their legacy, the management, would -- you know, could be in jeopardy. Let me worry about that, you know? You don't worry about my legacy. And you know, I mean, it's a bunch of bull. That's all it is.

VAN SUSTEREN: You know, I sort of think ahead, in the event that you were released, if the Packers do release you, and let's say that a team picked you up that really needs a quarterback -- Chicago, Baltimore, or even Minneapolis -- and the thought of that first Monday night game -- I think the Packers play Minneapolis, don't they, play the Vikings?

FAVRE: Yes. Yes.

VAN SUSTEREN: And to have you -- that's also the day they're supposed to retire the Green Bay Ford (ph) -- have you run out in a purple uniform will make the fans crazy. To pick up...

FAVRE: I've never envisioned that. I mean, I've heard all the talk, like everyone else. It's hard not to. But you know, I mean, that's always been -- our biggest rival, obviously, with the Bears. And did I ever think of that? No. Did I ever think (INAUDIBLE) happen? Absolutely not.

And by getting a release, obviously, it gives you an option to -- I don't know if other teams would make a play for me, you know? Most people say, you know, This team needs that, whatever. But it may not work out.

But we won't know unless we're released. And how am I supposed to trust that they're working on a trade after, you know, the things that have been told to me in the past? Teams may have called and said, Hey, you know, we're interested. Well, you know, I mean, they may never tell us. And the longer this goes on, the less likely I am to play with someone because of the time factor, so...

VAN SUSTEREN: Training camp's starting, or the -- the...

FAVRE: Right around the corner.

VAN SUSTEREN: Right around the corner, 27th of July?

FAVRE: Right. For Green Bay. Other teams are probably reporting earlier.

VAN SUSTEREN: All right. Let me see if I got this straight. You're now 100 percent certain you want to play football.

FAVRE: Where is a different story. Yes.

VAN SUSTEREN: But you want to...

FAVRE: Yes. Yes. Right.

VAN SUSTEREN: One hundred percent.

FAVRE: Right. And I may very well not play, Greta.

VAN SUSTEREN: But that's your desire. That's your desire.

FAVRE: Well, the circumstances.

VAN SUSTEREN: Right. And you -- and you're physically ready to do this.

FAVRE: I think so, yes. I mean, I think I'm ready.

VAN SUSTEREN: And Deanna's on board, your wife?

FAVRE: Yes.

VAN SUSTEREN: The Packers -- have they told you that you can come back, and not that you want to, but sit on the bench?

FAVRE: That's all I've been hearing, yes. Yes.

VAN SUSTEREN: Is that unacceptable to you?

FAVRE: I think so. A lot of people -- and you've mentioned that -- Why not go back and hold them to it? You know, I don't -- you know, I don't -- I don't see it that way. It's tempting just to -- because everyone's saying, you know, Call their bluff, or whatever. I think it's going to be a circus in itself already, whether I go there, whatever.

And I like my teammates. I had a lot of fun with them. I have talked to numerous guys throughout this whole ordeal. I wish them the best. I really do. I hold nothing against those guys. We had a lot of fun together. We had -- you know, it was an amazing year, last year. I don't -- I don't want to make it any worse than it is.

I mean, I've always been a Packer. I always will be a Packer. Do I play somewhere else? That remains to be seen. But I don't want to go back there just to stick it to them.

VAN SUSTEREN: When you had that announcement in March, you got very emotional. Is this emotional for you?

FAVRE: Very emotional. The way I played the game, the way I live my life, is very emotional. And I'm sorry, I got friends that pick on me all the time about crying, and not only during the press conference, but last year, after the Chicago Bears game. You know, Oh, you -- Favre's crying again. And it is a little bit embarrassing to me, at times, but it's the only way I know to be. It's real. It's genuine.

Every game I've ever played, regardless if it was pre-season or Super Bowl, meant the same to me, and I laid it all on the line. And I hope people can appreciate it because I do. And if I don't play again, it's not the end of the world because I look back and I hold no regrets. There are some games I wish I would have won, but I played every game the same way. And so what you see is what you get.

I don't know what else to tell you. And yes, I was emotional. He was believable -- I've heard that. You know, Favre was believable. Well, it was real. I didn't think I'd play again, and I still may not. I was giving an honest answer at that time after what -- they didn't make me give that answer. They asked if they could have that answer before free agency or the draft, and I did.

VAN SUSTEREN: Have you spoken to Aaron Rodgers at all?

FAVRE: No.

VAN SUSTEREN: Were you ever friendly with -- I mean, I don't know the relationship between...

(CROSSTALK)

FAVRE: I mean, you know, and he's 14 years younger than me. I know he made some comments here lately, but you know, when I was his age, I made some crazy comments, too, so I can't hold that against him. I know one of the comments -- it seems to me that some things were released, I think the same day the "Sports Illustrated" article was coming out. They're going to probably say they didn't release any of this info or get the pot stirring. But if they did, it was pretty smart because it deflected a lot of the comments that he supposedly made.

VAN SUSTEREN: About the fans having to basically get over you?

FAVRE: Yes. And you know, I'm sure he's tired of answering questions about Brett Favre, but...

VAN SUSTEREN: Must be hard on him.

FAVRE: It's got to be hard on him. And my only advice to him -- I never gave him advice, really -- would be that the only way you shut that up, we all know, is to go out and play and play well. And that's not to say that they would forget what I've done, but you know, go out and prove it on the field. That's all I would say. I'm not -- I'm not sitting here bashing Aaron Rodgers. I think he'll do a fine job, and I think his comments are not a surprise, not only from him, but I may have said the same thing.

VAN SUSTEREN: Is -- I know you haven't made a decision, but is going back to Green Bay an option and being the back-up quarterback, at this point?

FAVRE: Going back and being the back-up quarterback? No.

VAN SUSTEREN: What about competing for starting quarterback?

FAVRE: Why?

VAN SUSTEREN: I'm just asking. I'm just asking that...

FAVRE: That's what I would ask them, Why? Well, Brett, you retired, you know what I mean?

VAN SUSTEREN: Allowing them to trade you so they get something in return.

FAVRE: It's hard to imagine, but if I'm going to play, I mean, obviously, I would have to agree to whoever it is, and I'm sure, you know, they're not going to do it with a big rival or competitor or whatever. But that may be our only option. You know, I don't know what else to do.

VAN SUSTEREN: If they released you, which is now your first choice, if (INAUDIBLE) starting quarterback -- if they release you, that at least enables you to make your own decisions.

FAVRE: Why not ask for it? That's what Buss (ph) and I, we talked about it. I said, you know, Why not ask for it, you know? Do we think we'll get it? But yes, that gives you, you know, freedom to sign with anyone. But I'm still under contract, and as far as I know, you can't talk to anyone, or they can't talk to you. So they have to go through the Packers via the trade scenario. Hey, you know, OK, we understand that Brett possibly could be traded. How do we -- how do we know he hasn't talked to someone? I guess he yesterday said that no one's inquired. That very well may be true. But then again, how do we know it's not?

VAN SUSTEREN: What do you make of the rallies? There were a couple of rallies scheduled to bring Brett Favre back (INAUDIBLE) some of your fans.

FAVRE: Once again, Green Bay is a special place. Wisconsin is a special place. I truly appreciate not only these rallies, but the way they have -- you know, I've been booed a couple of times in that stadium, deservingly so. I didn't always play well. You know, I've had my ups and downs. But through it all, most people can say, You know, I appreciate the way he played, the way he handled himself. Wasn't perfect, never will be, but I've always shot it straight and honest and played the game that way.

And I think those people -- now I think they'll hear this side of the story. They can believe what they want, but for the most part, the people that are rallying and who really know me, think they know me, would say, You know, now, this makes more sense, and that's kind of what we thought, or whatever. You know, I can't -- I'm not here to convince people, I'm here to tell the truth. And I hope the fans know it's not about them. Obviously, it's not, because I can't go nowhere else and get what I got in Green Bay. Never will. No one can. And I was fortunate enough for those years to appreciate it, witness it, feel it. And there's just -- there's nothing like it.

(END VIDEOTAPE)


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