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By LW
Did the NFL star misuse taxpayer money to buy a yacht? Fans demand answers
Tom Brady, former NFL quarterback, is in the headlines once again, but this time it’s not for his performance on the field. Just two months after retiring from the NFL, he is now facing a major controversy involving the $960,000Paycheck Protection Program (PPP) loan that he allegedly misused to purchase one of his yachts.
The controversy started when Erica Marsh, a member of Joe Biden‘s election campaign and a supporter of the Democratic Party, posted a tweet questioning whether Tom Brady would be required to return the PPP loan that he allegedly misused. The tweet received a surprising amount of positive responses from fans, with many believing that Brady should repay the loan, especially since he could afford it.
However, there were also those who defended the former quarterback, pointing out that he had already returned the PPP loan before he purchased the yacht with his own money.
But the question remains: did Tom Brady actually apply for the PPP loan and use it to buy a yacht? The answer is yes. In 2020, Brady applied for a PPP loan worth $960,855 to keep his wellness brand, TB12, afloat during the COVID-19 pandemic. Despite his vast wealth, he still applied for the loan designed to help small businesses affected by the pandemic.
After winning the Super Bowl LV, Brady purchased a Wajer 55S yacht worth $2 million, and later a Wajer 77 yacht for $6 million, where the Tampa Bay Buccaneers hosted their victory parade. This raised eyebrows, especially since he had previously received a PPP loan meant to help small businesses stay afloat.
@TomBrady in his personal Yatch getting ready for the @Buccaneers championship parade #GoBucs #Lombardi #Drunk Tom Brady #TampaBayBuccaneers #TampaBay #wearethechampion # @TMZ @espn pic.twitter.com/BYLLzYJXEs
— CHUBPONE.NFT (@Chubpone) February 11, 2021
Tom Brady’s net worth and future in broadcasting
Speaking of wealth, Tom Brady‘s net worth as of 2023 is an impressive $525 million, with $333 million coming from his on-field achievements and the rest from his endorsements and business ventures. He has endorsed companies such as Under Armour, Hertz, T-Mobile, Subway, and FTX, which have contributed to his vast wealth.
Interestingly, next year, Brady will begin his NFL analyst stint at Fox, which is said to be a 10-year contract worth $375 million – the most lucrative in sportscasting history. However, there are rumors that he may back out before even calling a single game due to his reluctance to travel, even though he will travel on private planes.
In conclusion, while Tom Brady’s performance on the field is legendary, his recent controversy involving the PPP loan and the yacht purchase has put a dent in his otherwise spotless reputation. Only time will tell how this will affect his legacy and public image, but for now, the former quarterback remains one of the most iconic figures in the world of sports.
Read more at: https://www.marca.com/en/nfl/2023/05/08/6459338e22601d86778b459f.html