Tom Brady’s TB12 firm obtained greater than $ 960,000 in PPP mortgage
Tom Brady # 12 of the Tampa Bay Buccaneers throws a pass during the first half against the New Orleans Saints at Raymond James Stadium on November 08, 2020 in Tampa, Florida.
Mike Ehrmann | Getty Images
Tom Brady’s sports and nutrition company has received a $ 960,855 Paycheck Protection Program loan from the federal government, according to the US Small Business Administration.
Massachusetts-based TB12 Inc. received the loan on April 15, 2020 under the small business loan program created under the CARES Act of $ 2 trillion, passed by Congress and the Trump administration in March has been. The loan was processed by Cambridge Savings Bank.
Brady, a former quarterback for the NFL’s New England Patriots, started TB12 in 2013. He agreed to a two-year $ 50 million deal with the Tampa Bay Buccaneers in March. The company announced plans in April to expand in Tampa, Florida, New York and Los Angeles.
According to Forbes, the six-time Super Bowl champion has made around $ 350 million in his career.
It is unclear how TB12 was affected by the coronavirus pandemic and how many jobs the loan saved. CNBC has reached out to the company for a comment.
According to the Sports Business Journal, more than 500 sports companies received funding of $ 150,000 or more from the SBA program.
The Los Angeles Lakers, one of the NBA’s richest franchises, received a federal loan of $ 4.6 million in April, but returned that money when they learned that the program had run out of funds.