Boris Johnson ‘quit PM race over risk to £10m earnings’, sources say

If the ex-PM had lost the leadership contest, his value stood to drop by half, according to the entertainment industry

Boris Johnson would have forfeited earnings of at least 10m a year from speeches and sales of his memoirs if he had fought a leadership battle against Rishi Sunak and lost, according to informed sources in the entertainment industry, who believe financial considerations played a part in his decision to pull out.

Since he resigned in July, Johnson is known to have been in talks with entertainment and talent agencies including Endeavour, run by US businessman Ari Emanuel, and the Harry Walker Agency (HWA), one of its subsidiaries.