NFL Fact Check: Did Tom Brady receive close to a million dollars in PPP money?
Tampa Bay Buccanneers star Tom Brady will undoubtedly go down in history as one of the greatest players in NFL history. With seven Super Bowl rings, five Super Bowl MVPs, and 3 NFL MVPs, the quarterback has accomplished everything in the game.
Yet, with his 45th birthday coming up next month, he is gearing up for his 23rd season in the NFL.
The former New England Patriots star is also known for his endeavors outside the NFL, especially for his performance brand TB12. He co-founded the company in 2016 - with Alex Guerrero - as a peak performance website TB12sports.com that soon pivoted to being a health and wellness brand.
Back in 2020, during the first wave of COVID lockdowns across the United States, news broke that his company TB12 received a loan of $960,855 from the federal government as a part of the Paycheck Protection Program.
Data released by the US Small Business Administration showed the loan was processed by Cambridge Savings Bank. According to reports, more than 500 sports-related companies received funds of $150,000 or more from the program.
The PPP program was started as a small business lending program under the $2 trillion CARES Act passed by the US Congress with then-president Donald Trump in charge.
Fans bashed Tom Brady and the Congress for sanctioning the loan for TB12
Reports of Brady's company receiving nearly a million dollars in loans were released in April 2020. Just a month prior, the 44-year-old had signed a $50 million, two-year contract with the Bucs.
Adding to that, the fact that President Trump is widely believed to be a good friend of the quarterback fueled further outrage on social media.
Here's how fans reacted to the news on Twitter:
52% of Americans who applied for PPP loans were denied, but Tom Brady’s nutrition company TB12 w/ about 12 employees was given $1M. He and his wife Gisele Bundchen are worth a combined $600M+.
But Steven Mnuchin wanted Tom to be okay during this pandemic. Lock him up.
Tom Brady’s TB12 Inc getting a $1M PPP loan in 2020, when roughly half of the small business applicants were denied, sucked.
But the fact that he had it *completely forgiven* is a fucking disgrace. https://t.co/TEA7kH0mLt
Tom Brady walked into the stadium, maskless. Tom’s company, TB12, took $960K in PPP loans. Shortly after, Tom purchased a yacht. And Tom supported Trump. I don’t see how anyone can look past Tom’s awful behavior and root for him. He’s a great athelete. But a terrible human being.
Tom Brady got $1 million in (PPP) loan money for TB12 with 20 employees. Tom Brady has a solo net worth of $200 million
what do you think your local struggling small business owner with a net worth far less than Brady’s received?
Also Checkout:- Tom Brady Passing Yards
Apart from being a wellness brand, Tom Brady also used his trademarked TB12 to start a TB12 Foundation, alongside Boston Private and Robert Paul Properties. The philanthropic division worked with athletes to help them alleviate injuries and improve longevity.
Through the foundation, at-risk athletes have access to professional practitioners and tailored programs that help them overcome injuries and prolong their careers.
Brady is also the the co-founder of Religion of Sports, a sports media company, alongside Michael Strahan and Gotham Chopra.
Last month, the production company announced that they have raised $50 million in a Series B fundraising round with the aim to develop new intellectual property and expand its creator network.
Tom Brady and Michael Strahan's production company @religionofsport recently raised $50M in funding.
So I sat down with CEO @ameethsank to chat about the growth of the business, future expansion plans, where the industry is headed & more. Enjoy!
Listen: podcasts.apple.com/us/podcast/89-… https://t.co/Gmw60lRnHj
The former New England Patriots star also co-founded a sports-based NFT platform called Autograph.
Whether it's on the gridiron or the business world, Tom Brady is always looking to excel.