Tom Brady getting paid $55,000,000 by Sam Bankman-Fried labeled as “not a crime” by FTX’s defense attorney: Report
Tom Brady has been part of a failed investment in FTX and his name was evoked by Sam Bankman-Fried's lawyer during the former crypto mogul trial. The argument used by SBF's team involved that his entry into high society wasn't evidence of any illegal activity, according to Forbes.
The attorney said in his opening statements that "it was not a crime" for Bankman-Fried to ink lucrative advertising deals with celebrities such as the quarterback, which was one of the arguments made by the prosecutors regarding the crimes that he's accused of. Prosecutors also said that Bankman-Fried's power was "built on lies".
Michael Lewis, the author of a new book about Bankman-Fried named 'Going Infinite', states that FTX paid Tom Brady $55 million for over 20 hours of promotional work per year over three years.
Tom Brady focusing on investments post-NFL career
After announcing his second (and, this time, official) retirement, Tom Brady has ventured through different avenues as an investor.
He first bought a small stake in both the Las Vegas Raiders and the Las Vegas Aces (WNBA), who are owned by Mark Davis. More recently, he also became an investor in the English Championship team Birmingham City, working directly with the club's Board and executive members as they push for a Premier League berth.
The interesting caveat to this story is that Tom Brady has never played for the Raiders - instead, Brady and the Raiders were at the center of one of the league's most controversial games, the Tuck Rule Game in 2001 which spearheaded the New England Patriots to the Super Bowl. He holds a 5-1 record against Mark Davis' team.
There wasn't much else for him to achieve after over two decades of playing in the NFL. His stint with the Patriots alongside Bill Belichick was legendary and will be remembered for many decades to come. He also was one of the FTX's public faces as an investor before the company declared bankruptcy.
Brady will enter in 2024 a 10-year, $375 million deal with Fox to become an analyst. The agreement was set to start once the quarterback decided to retire, and now the time has come.