Tom Brady's TB12 Company Receives Nearly $1 Million In PPP During Pandemic

The lifestyle company owned by former New England Patriots and current Tampa Bay Buccaneers quarterback Tom Brady reportedly received a large amount of forgivable loans through the Paycheck Protection Program designed to keep employees on payroll during the COVID-19 pandemic.

Federal data released this week by the Small Business Administration showed TB12, Inc. received a total of $960,855 in PPP loans, Boston.com reports. The information, which was made public by the watchdog group Accountable.US, shows Brady's Foxborough-based company was received money through Cambridge Savings Bank on April 15.

TB12, which has fitness centers inside the Gillette Stadium, the home of Brady's former team, and in Boston, did not list the number of jobs it retained through the loan, which can be forgiven, according to USChamber.com.

Brady signed a two-year contract with the Tampa Bay Buccaneers reportedly worth $50 million guaranteed in March, less than two months prior to his company receiving the PPP loan and has a reported combined net worth in the hundreds of millions of dollars with supermodel wife Gisele Bündchen.

Boston.com reports a total of $14.27 billion was distributed to 117,772 different businesses in Massachusetts, with an average of $121,182 received per loan. The Boston Globe reports a total of 2,382 companies received PPP loans exceeding $1 million, which equals just 2% of recipients.

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