Geoffrey Rush (Image: AAP/Bianca De Marchi)

The Daily Telegraph is set to fork out a record $2.87 million in damages for defaming Geoffrey Rush after losing an appeal in the Federal Court last week — but the real price is likely to be much, much higher.

In total, the lawsuit could cost News more than $10 million, defamation experts tell Crikey

Damages are only part of the bill. Lawyers estimate the company’s own legal costs for the entire trial will exceed $3 million, given it employed two barristers and had at least three or four lawyers present at any given time.