Sports

Tom Brady and Scott Boras are among sports figures with companies on government's PPP list

Key Points
  • NFL quarterback Tom Brady's performance company, TB12, received funding from the federal Paycheck Protection Program.
  • Brady, 42, agreed to a two-year $50 million deal with the Tampa Bay Buccaneers in March.
  • MLB agent Scott Boras also had entities on the PPP list. 
Tom Brady
Charles Krupa | AP

Tom Brady's sports performance and nutrition company received funds from the federal Paycheck Protection Program, according to information released by the U.S. Small Business Administration. 

TB12 Inc., based in Massachusetts, received between $350,000 and $1 million in a loan processed by Cambridge Savings Bank, according to the SBA list revealing companies that applied for more than $150,000.

The PPP loans and grants were part of the $2 trillion CARES Act, which President Donald Trump signed into law this spring. The loans were designed to help small businesses hurt by the coronavirus pandemic retain or rehire employees. 

Brady, 42, agreed to a two-year $50 million deal with the Tampa Bay Buccaneers in March. The six-time Super Bowl champ has made roughly $350 million in his career, including $45 million in 2019, his final season with the New England Patriots, according to Forbes.

The list doesn't reveal how many jobs TB12 saved with the money or if the company returned the funds. A request for comment to New York-based public relations firm Jonesworks, which represents TB12, was not immediately returned. 

Brady isn't the only rich sports figure represented on the list. Major League Baseball super agent Scott Boras, who negotiated New York Yankees pitcher Gerrit Cole's $324 million deal, appears via three different entities.

Agent Scott Boras prior to the game between the Miami Marlins and the New York Mets at Marlins Park on July 12, 2019 in Miami.
Michael Reaves | Getty Images

The Boras Corp., owned by Boras, had its loan processed by Merchants Bank of Commerce in California. Boras' first loan was in the $1 million to $2 million range, which helped retain 69 jobs, according to the list. Boras Marketing and Boras Sports Training Institute received funds in the $150,000 to $350,000 range.

Boras, who negotiated over $2.4 billion in total contracts, with $118 million in commissions, is ranked second on Forbes' most power sports agent list.

According to a list compiled by Sports Business Journal, more than 500 sports-related companies, including player agencies, racetracks, ticketing companies and minor league baseball teams, received funds.

SWB Yankees LLC, a joint venture that includes Yankee Global Enterprises, which owns the New York Yankees, received funding in the $350,000 to $1 million range. The number of jobs retained was not provided. SWB Yankees owns the Yankees' Triple-A affiliate, the Scranton/Wilkes-Barre RailRiders.

The Los Angeles Lakers applied for and received $4.6 million in federal loans in April but returned the money.

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