Tom Brady Received Nearly $1M In PPP Money. He Then Bought A Yacht.

by | 3 months ago | Top Stories | 0 comments

NFL quarterback Tom Brady recently bought a new mult-imillion dollar yacht, according to TMZ.

And according to Tampa Bay’s Creative Loafing, Brady — who has “a two-year, $50 million deal with the Tampa Bay Bucs and over $260 million dollars in career earnings” — also received nearly $1 million in Paycheck Protection Program loans earlier this year.

Brady’s 40-foot-plus vessel named “Viva A Vida,” arrived in St. Pete last Thursday, just a day before it was discovered his Massachusetts-based supplement and merchandise company, TB12 Inc., received nearly a million dollars from the Federal Paycheck Protection Program (PPP).

While the $522 billion program was designed to help small businesses cover things like rent and payroll during the pandemic, larger companies mostly benefited and nearly half of all small businesses were denied PPP (it was even worse for minority-owned businesses). 

But nevertheless, Brady’s company managed to pull in a $960,855 loan on April 15, 2020, from the federal government, according to data released by the U.S. Small Business Administration.

Creative Loafing noted that it remains “unclear exactly how TB12 was impacted by the coronavirus pandemic and how many jobs it retained with the loan.”

Read the full report.

Image credit: Screengrab / The Howard Stern Show / YouTube

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