Tom Brady’s company received a $960K PPP loan, then he bought a yacht

But hey, congrats to the GOAT and his new boat.

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Tom Brady, a man with a two-year, $50 million deal with the Tampa Bay Bucs and over $260 million dollars in career earnings , is now the proud owner of a new custom, “multi-million-dollar yacht,” according to TMZ .

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.

News of Brady’s PPP loan broke back in July, but the actual amount wasn’t listed until now. Prior to the release of Small Business Administration data, which was obtained after nearly a dozen news organizations sued the federal government, TB12 Inc. was listed as part of the $350,000 to $1 million tier.

At this point, it’s unclear exactly how TB12 was impacted by the coronavirus pandemic and how many jobs it retained with the loan, but the company did adapt by releasing non-FDA approved $45 “immunity” supplements at the peak of Florida’s lockdowns.

To be clear, it’s not illegal for Brady to accept PPP, but it’s terrible optics for a rich guy, with an even richer wife, to buy a yacht after receiving a loan meant for struggling businesses. This point isn't lost on everyone, though. Last April, after news that funds from the PPP program ran out, the Los Angeles Lakers returned a $4.6 million in federal loan.

But hey, congrats to the GOAT and his new boat. 

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About The Author

Colin Wolf

Colin Wolf has been working with weekly newspapers since 2007 and has been the Digital Editor for Creative Loafing Tampa since 2019. He is also the Director of Digital Content Strategy for CL's parent company, Euclid Media Group.
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