Craig Ferguson could earn over $8 million if not chosen to replace David Letterman (Report)

By Kyle Johnson,

Craig Ferguson, host of Late Late Show could potentially be in for a nice earnings boost if CBS decides to replace David Letterman with someone else.

Citing sources, the New York Daily News reports that Ferguson's contract stipulates if he is not chosen as Letterman's successor, then he will earn at least $8 million and possibly up to $12 million.

If the sources are correct, then Ferguson is likely going to be an even richer man, since few believe that CBS would pick the Scottish host to be the next host of the Late Show.

The report comes just a day after Letterman announced he would be retiring at the end of his contract, which expires in 2015. When Letterman retires he will have been the longest-tenured late night host. He has been on the air for 21 years already.

After the announcement was made, politicians in Los Angeles and New York wrote in to CBS and head Les Moonves either pleading for the show to move to one coast or stay where it is.

Los Angeles Mayor Eric Garcetti suggested that the Late Show move to the West Coast, while New York City Council Speaker Melissa-Mark Viverito and NY Gov. Andrew Cuomo asked that the show remain where it is.

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