Tom Brady #12 of the Tampa Bay Buccaneers throws a cross in the course of the first half towards the New Orleans Saints at Raymond James Stadium on November 08, 2020 in Tampa, Florida.
Mike Ehrmann | Getty Images
Tom Brady’s sports activities efficiency and diet company received a Paycheck Protection Program loan of $960,855 from the federal authorities, based on information launched by the U.S. Small Business Administration.
TB12 Inc., primarily based in Massachusetts, received the loan on April 15, 2020, as a part of the small enterprise lending program created below the $2 trillion CARES Act handed by Congress and the Trump administration in March. The loan was processed by Cambridge Savings Bank.
Brady, a former quarterback for the New England Patriots of the NFL, began TB12 in 2013. He agreed to a two-year $50 million cope with the Tampa Bay Buccaneers in March. The company introduced in April plans to increase in Tampa, Florida, New York and Los Angeles.
The six-time Super Bowl champ has made about $350 million throughout his profession, based on Forbes.
It’s unclear how TB12 was impacted by the coronavirus pandemic and what number of jobs it retained with the loan. CNBC has reached out to the company for remark.
More than 500 sports-related firms received funds of $150,000 or more from the SBA program, based on the Sports Business Journal.
The Los Angeles Lakers, one of many NBA’s richest franchises, received $4.6 million in federal loans in April however returned that cash upon studying that funds from this system ran out.