Sports

Tom Brady's health and wellness company received a $1 million PPP loan

Tom Brady's health and wellness company received a $1 million PPP loan
Posted at 12:22 PM, Dec 07, 2020
and last updated 2020-12-07 12:22:06-05

A health and wellness company owned by Tampa Bay Buccaneers QB Tom Brady received a government loan of just under $1 million as part of a program meant to aid small businesses amid the COVID-19 pandemic.

According to Sports Illustrated and CNBC, Brady's TB12 Sports received a loan of $960,855 as part of the Paycheck Protection Program (PPP) in April.

The PPP is a stimulus program set up by the Small Business Administration that offered loans to businesses with 500 employees or fewer per location during the COVID-19 pandemic.

In the offseason, Brady signed a two-year contract that included $50 million in guarantees with the Buccaneers. Sports Illustrated reports that Brady has made about $260 million in salary in his 20-plus years as an NFL quarterback, which doesn't include money made from endorsements.

Forbes reports that Brady made $45 million in 2019 alone and ranked him No. 21 on its list of wealthiest athletes.

Earlier this year, a survey by the National Small Business Association (NSBA) showed 52% of small businesses that applied for a PPP loan did not get one. Brady is known to be friendly with President Donald Trump, though there is no confirmed link between Brady's relationship with the President and his company's PPP loan.

TB12 was co-founded by Brady and his personal trainer, Alex Guerrero. The company sells supplements and nutrition plans online and hosts in-person workout sessions in the Boston and Tampa areas.

In the past, Guerrero has faced criticism for his controversial marketing of certain nutritional supplements. He also reportedly butted heads with members of the New England Patriots coaching staff when Brady was quarterbacking there.