I would image Craig Ferguson thought he was next in line for the Late Show throne, but he didn't get it... Stephen Colbert did.

And, while sources say Ferguson didn't have his eye on Letterman's seat, he did have a clause written into his contract that said if he got passed over for the Late Show job, he'd receive a pay out.

The "New York Post" claims Craig had a clause written into his contract, which said that if he got passed over for "The Late Show" after Letterman retired, he'd get a payout of $5 million as a consolation prize.

The "New York Daily News" says it could be more . . . like something in the neighborhood of $8 million to $12 million.

He tweeted his congratulations yesterday...

And now he's counting his cash.

Getty Images