Tom Brady’s company TB12 raised nearly $ 1 million in federal PPP funding despite the NFL star’s estimated net worth of $ 200 million
- The NFL star’s nutrition and fitness plan company received the funds on April 15
- Federal data didn’t show how many jobs were saved by the $ 960,855 loan
- Brady has a $ 50 million deal with the Buccaneers and has a net worth of $ 200 million
- His company, TB12, has never disclosed its financial data and its value is unknown
NFL star Tom Brady’s TB12 Sports company took out nearly $ 1 million in federal paycheck protection loans, according to federal data.
Brady’s nutrition and fitness plan company, based in Foxboro, Massachusetts, was approved on April 15 for the $ 960,855 loan, according to data released by the Small Business Administration.
The information released did not include an estimate of how many jobs the pandemic aid would likely receive, and a company spokesman did not immediately respond to a query from DailyMail.com.
TB12 is privately owned and its financial details, rating and number of employees have never been disclosed. Brady himself has an estimated net worth of $ 200 million.
NFL star Tom Brady’s company, TB12 Sports, has raised nearly $ 1 million in federal paycheck protection program loans, according to federal data
The PPP loan to TB12 was first reported by CNBC. The loan was processed by Cambridge Savings Bank.
Brady, who prides himself on his rigorous diet and fitness regimen, co-founded TB12 with controversial trainer Alex Guerrero in 2016.
The company sells nutritional supplements, subscription diet plans, fitness programs, and branded clothing.
Guerrero, Brady’s longtime coach, was stripped of many of his team privileges by the New England Patriots in 2017 after reported frictions with team members.
Brady, a former Patriots quarterback, signed a two-year $ 50 million deal with the Tampa Bay Buccaneers in March.
Government PPP funding for TB12 was revealed last week in a massive data dump that included the names of more than 10 million companies and individuals who have received pandemic aid.
Brady, who prides himself on his rigorous diet and fitness regimen, co-founded TB12 with controversial trainer Alex Guerrero (with him above) in 2016.
By November, the SBA had processed and approved more than 5.2 million individual PPP loans worth $ 525 billion and 3.65 million Economic Injury Disaster Loan (EIDL) loans worth $ 194 billion.
Billions of dollars have been poured into unauthorized companies and scammers, watchdogs warned.
The SBA identified borrowers who had raised more than $ 150,000 from the PPP in July, but only provided aggregated and anonymized data for borrowers who took less than $ 150,000, which is about 85 percent of the total number of PPPs. Loans mattered. The agency made similar partial disclosures for EIDL loans.
The Trump administration said that identifying the EIDL and PPP recipients would violate the privacy of individuals and reveal sensitive business information that can be edited under the exemptions of the Freedom of Information Act.
A federal judge in Washington, DC, dismissed this argument and dismissed further efforts by the agency to delay the release of the data, which must be released by December 1.