This is a rush transcript from "On the Record ," July 31, 2008. This copy may not be in its final form and may be updated.

JAMIE COLBY, FOX NEWS HOST: The Brett Favre comeback controversy exploding. He just filed for a reinstatement to the NFL. And now the questions loom. Will the Packers keep Favre, release him, trade him?

Even Senator John McCain has been asked about the controversy. Apparently it's a topic too hot for the senator to touch.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: We have a big problem in this state. I think you can carry Wisconsin if you can get up and talk to Mark Murphy and Ted Thompson and resolve the dispute in Green Bay. I think you can carry this state, senator.

SEN. JOHN MCCAIN, (R) PRESIDENTIAL CANDIDATE: My friends, there are a lot of controversies I have eagerly leapt into in my time. And I did stand fifth from the bottom of my class in the Naval Academy. But I'm not so dumb that I'm going to jump in-

(END VIDEO CLIP)

COLBY: You have to love it, everyone wants to know.

So for the latest Favre news, Fox Sports Chris Myers is with us. Good evening to you. Chris, we all want to know what happened behind closed doors when the Packers president went to see Favre?

CHRIS MYERS, FOX SPORTS: Well, Jamie, like John McCain, Brett Favre is a fighter. And I think he'll fight.

Watch the interview

Basically, the Packers offered $20 million for Brett Favre to stay retired. They would make him part of the organization in some other capacity-merchandising, promotion.

And Brett is not the kind of guy that can be bought, and it's not really about money. He wants to play, and he wants to play for the Packers, but they have moved on with Aaron Rogers.

So now he has a plane chartered ready and waiting to fly to camp once he gets the reinstatement from the NFL Commissioner that could come tomorrow. A Hall of Fame ceremony is this weekend for the commission, but if not, Brett will give the Packers time to work something out.

But he wants to play, that is the bottom line.

COLBY: He wants to play, but, Chris, what happens if he shows up with the Vikings on opening day? It is that a possibility?

MYERS: It's a possibility. The Packers, who said it first, they would not go that route. They are in the division, obviously, with Green Bay. But now they're running out of options.

And when you're offering that much money to keep a guy from playing that's one thing the NFL does not want, is to ruin Brett's career and legacy. He has done so much, and he wants to come back and play.

COLBY: $20 million go sit home. Unprecedented.

MYERS: And he said "No" to that.

COLBY: I have to run, but if that plane is on the ground and he lands tomorrow and he is showing to camp you'll be back with us tomorrow night. It's good to see you.

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