FTX’s Sam Bankman-Fried agreed to pay former NFL quarterback Tom Brady $55 million per year in exchange for 20 hours of his time. Perry Knotts—Getty Images
FTX founder Sam Bankman-Fried has interacted with many of the biggest names in politics and business, but his closest relationships may have been in the world of sports.
Although Bankman-Fried is not a sports fan, it is reported that he prefers video games, such as League of Legends, he agreed to an eight-figure partnership with Tom Brady and his then-wife Gisele Bündchen to serve as “ambassadors” for FTX. Brady, in particular, has appeared in TikTok videos, events and ads promoting Bankman-Fried and his company. In 2021, the former quarterback also reportedly signed an endorsement deal that promised to pay him $30 million, almost entirely in FTX stock. New York Times.
In fact, Bankman-Fried’s relationship with Brady and Bündchen began when SBF reportedly agreed to pay Brady $55 million per year over three years, while Bündchen paid them nearly $20 million per year. Work 20 hours. A Washington Post article adapted from Michael Lewis about FTX, Going Infinite: The Rise and Fall of the New Tycoons, to be released on Tuesday. For context, Brady reportedly made around $30 million for his on-field performance with the Tampa Bay Buccaneers in his final season in the NFL. Forbes.
What started as a very comfortable arrangement for Brady developed into a friendship, according to a person familiar with the matter. 60 minutes The interview with Lewis aired Sunday. Lewis said Brady “adores” SBF.
“I think Tom Brady thinks he’s a very interesting guy. I think I like hearing what he has to say,” Lewis said.
Lewis added that he gets along well with Brady, even though SBF’s interests are very different from those of the seven-time Super Bowl champion quarterback.
“I really like Tom Brady. Sam’s not a great athlete, so it’s fun to watch that interaction,” Lewis told 60 minutes. “It’s like, ‘These two really get along.'” “It’s like the nerd and the quarterback in the class.”
Lewis said FTX’s collapse was a major blow to Brady’s finances because stock in the company he had pledged was suddenly worthless, but he was also personally affected.
“I think Brady was crushed,” Lewis told 60 minutes Host Jon Wertheim. “I think as time went on he stopped getting a really good explanation for what happened – I think he just thought, ‘He cheated on me. I’m angry. I don’t want anything to do with this anymore.’ ”