Tom Brady was reportedly paid $55 million by Sam Bankman-Fried for FTX promoting

Morning Sports activities Replace

Writer Michael Lewis mentioned Brady’s function within the cryptocurrency trade previous to its downfall. Bankman-Fried is now on trial for fraud and cash laundering.

Tom Brady Sam Bankman-Fried
Tom Brady was reportedly paid $55 million by FTX and Sam Bankman-Fried. Picture by Maddie Meyer/Getty Photographs

Tom Brady, Sam Bankman-Fried, and FTX: Forward of the trial of former FTX founder and CEO Sam Bankman-Fried — who faces seven federal indictments pertaining to fraud and cash laundering — Tom Brady’s title was as soon as once more entrance and middle within the multibillion-dollar cryptocurrency scandal that first emerged in late 2022.

Throughout Sunday’s episode of “60 Minutes” on CBS, writer Michael Lewis mentioned his guide about Bankman-Fried, “Going Infinite: The Rise and Fall of a New Tycoon.”

In accordance with Lewis, Bankman-Fried paid athletes extraordinary sums of cash in return for promoting and endorsements. Brady, who appeared in a number of commercials pitching FTX between 2021 and 2022, acquired the biggest share.

“He paid Tom Brady $55 million for 20 hours [of work] a yr for 3 years,” Lewis advised “60 Minutes.”

Lewis famous that Warriors guard Stephen Curry was paid $35 million for the same association.

“It’s breathtaking, what’s on that record,” Lewis mentioned of the FTX inner advertising doc he says he noticed.

Lewis speculated that Brady had a great relationship with Bankman-Fried, regardless of their obvious variations.

“Tom Brady I feel adored him,” Lewis mentioned of Brady’s view of the now-disgraced FTX founder. “I feel Tom Brady thought he was a extremely fascinating individual. I feel he preferred to listen to what he needed to say.”

“It was humorous to observe that interplay,” Lewis mentioned of Brady and Bankman-Fried, who he described as not being a “massive sports activities individual.”

After Bankman-Fried was accused of being a fraud (and FTX collapsed), Lewis mentioned that Brady was “crushed” by the information.

“I feel as time has passed by,” Lewis added, “and [Brady’s] ceased to get a extremely good rationalization about what’s occurred — I feel he’s identical to, ‘He tricked me. I’m indignant. I don’t wanna have something to do with it anymore.’”

Brady is amongst a number of celebrities who’re the topic of a class-action lawsuit filed in Florida in Dec. 2022, accusing the group — an inventory that features Brady, his now ex-wife Gisele Bündchen, Curry, Shaquille O’Neal, Larry David, and others — of not performing “any due diligence previous to advertising these FTX merchandise to the general public,” per a New York Occasions report in July.

The sooner Occasions report additionally differed from Lewis’s account, noting that FTX paid Brady $30 million, “a deal that consisted nearly completely of FTX inventory.” Bündchen reportedly acquired $18 million in FTX inventory, a commodity that’s now basically nugatory following the revelations in regards to the cryptocurrency trade.

Bankman-Fried’s trial will get underway in a Manhattan federal courtroom on Tuesday, wherein the 31-year-old may face a most sentence of 110 years in jail.

Scores and schedule:

The Bruins misplaced to the Flyers 3-1 in Monday’s preseason sport. Boston performs two extra preseason contests (together with one tonight in opposition to the Rangers at 7 p.m.) earlier than starting the common season on Oct. 11 in opposition to Chicago at TD Backyard.

On Wednesday, the Revolution will host Columbus Crew in a sport that may assist decide Jap Convention playoff seeding. It’s set to kick off at 7:30 p.m.

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