Your tax dollars, hard at work.
In spite of the GOAT inking a two-year contract worth $50 million with the Buccaneers this offseason, Tom Brady’s business venture, TB12 Inc., has apparently experienced hardships due to the coronavirus pandemic and received up to $1 million in federal funding through the Paycheck Protection Program (PPP).
Federal data published Monday disclosed all recipients of at least $150,000 from the relief program, which the Small Business Association says accounts for 75 percent of the total loan amount approved.
Businesses had to apply for the PPP loan, which is a component of the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act: a $2 trillion relief package passed by Congress and President Trump in March, the goal of which is to support small businesses and combat job loss during the economic downturn caused by COVID-19.
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Exact loan amounts were not released, but businesses were stratified into tiers of $150,000 to $350,00, $350,000 to $1 million, $1 million to $2 million, $2 million to $5 million and $5 million to $10 million. TB12 Inc.’s application was approved on April 15, six days after the company announced plans to expand the TB12 presence in Tampa, New York and Los Angeles. The loan was categorized in the $350,000 to $1 million tier and was dispersed by Cambridge Savings Bank.
The Massachusetts-based brand sells supplements and merchandise online. It also has two brick-and-mortar locations — one in Patriot Place in Foxboro, and another in Boston’s tony Back Bay neighborhood — whose doors were shuttered temporarily during the shutdown.
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Meanwhile, the 42-year-old Florida man has kept plenty busy by holding workouts with new teammates, golfing, breaking into homes and trespassing in Tampa parks. In May, Brady, a renowned advocate for natural and clean living, drew criticism for promoting Protect, a TB12 Sports product that is touted as an “immunity blend supplement” during a pandemic. The product retails for $45 dollars for a 30-day supply.
Brady and his wife Gisele have a combined net worth of nearly $600 million, according to Celebrity Net Worth.
This story first appeared in the New York Post.