The former NFL quarterback frequently made appearances in FTX commercials and served as an ambassador for the company. The New York Times reported on Friday that he received $30 million as part of his agreement with the long-gone business, the majority of which came in the form of FTX stock. Supermodel Gisele Bündchen, Brady's ex-wife, also received $18 million in FTX stock.
But that stock is now completely worthless because FTX is now bankrupt and its founder, Sam Bankman-Fried, is being investigated for crimes.
Brady allegedly even called Sina Nader, the head of partnerships at FTX, on a "urgent phone call" during the collapse.
Nader told The New York Times, "I never would have expected to decline a call from Tom Brady," claiming he was in a crisis meeting with Bankman-Fried and others at the time. Brady later called him back and expressed "concern" regarding his situation.
A group of FTX customers who are dissatisfied with the celebrities' endorsements of the business are suing them, and Brady and Bündchen are just two examples. In addition to others who are named in the lawsuit, comedic actor Larry David, tennis player Naomi Osaka, and Golden State Warriors guard Stephen Curry all advertised the business. The lawsuit was also promoted by NBA Hall of Famer Shaquille O'Neal, who reportedly went to great lengths to avoid being served before being located earlier this spring at an NBA game.
After being detained in January, Bankman-Fried was charged with wire fraud, securities fraud, money laundering, and other offenses. Prior to the company's demise, FTX had an agreement in place to serve as the main sponsor of the Miami Heat's arena. The Kesaya Center is its current name.
According to the report, Brady and Bündchen appeared in a $20 million advertising campaign for FTX, and Brady even shared TikToks with Bankman-Fried from the business's Bahamas headquarters.
The pop star Taylor Swift allegedly had negotiations with FTX for a deal that could have paid her up to $100 million, according to The New York Times. Even though she had a contract with FTX, Bankman-Fried ultimately backed out, leaving her team "frustrated and disappointed."
