Tom Brady Is Under Fire After His TB12 Company Took In The Ballpark Of $1 Million In PPP Loans

NY Post – 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.

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.

There are a lot of companies out there who’ve been publicly shamed for taking advantage of the government’s Paycheck Protection Program loans. Many companies out there applied, including ones that really didn’t need it, for the same reason companies take generous tax deductions whenever possible: If the government gives a company a bailout or loophole, the financial responsibility (and opportunity) dwarfs any sense to them of what’s “fair”.

And it seems like Tom Brady is the latest wealthy entrepreneur in the barrel after his TB12 supplement/fitness company received somewhere between $350,000 and $1,000,000 as part of the Paycheck Protection Program. Brady has made tens upon tens of millions from his playing career and, even with the most reckless spending, likely had enough in the coffers to cover any employee pay and expenses relative to the pandemic.

But he’s running a company that’s likely hemorrhaging money just like a lot of Americans (and I sincerely doubt that his COVID snake oil cure moved the needle). It’s a vanity company but it’s a company like any other that likely made even less than it would have normally because of the pandemic. Is he not allowed to be a poor businessman like anyone else just because he’s wealthy? It seems odd, especially since we know Tom Brady has always seen the field particularly well. He saw an easy checkdown play and he took it.

Either way, I’ll choose to hate the game and not the player. Our government screwed up every respect of handling the pandemic. If that means Tom Brady had to lose $1 million less on his dumb company as a result, so be it. It’s 2020. There are way worse things going on.

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