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

Morning Sports Update

Author Michael Lewis discussed Brady’s role in the cryptocurrency exchange prior to its downfall. Bankman-Fried is now on trial for fraud and money laundering.

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

Tom Brady, Sam Bankman-Fried, and FTX: Ahead of the trial of former FTX founder and CEO Sam Bankman-Fried — who faces seven federal indictments pertaining to fraud and money laundering — Tom Brady’s name was once again front and center in the multibillion-dollar cryptocurrency scandal that first emerged in late 2022.

During Sunday’s episode of “60 Minutes” on CBS, author Michael Lewis discussed his book about Bankman-Fried, “Going Infinite: The Rise and Fall of a New Tycoon.”

According to Lewis, Bankman-Fried paid athletes extraordinary sums of money in return for advertising and endorsements. Brady, who appeared in multiple commercials pitching FTX between 2021 and 2022, received the largest share.

“He paid Tom Brady $55 million for 20 hours [of work] a year for three years,” Lewis told “60 Minutes.”

Lewis noted that Warriors guard Stephen Curry was paid $35 million for a similar arrangement.

“It’s breathtaking, what’s on that list,” Lewis said of the FTX internal marketing document he says he saw.

Lewis speculated that Brady had a good relationship with Bankman-Fried, despite their apparent differences.

“Tom Brady I think adored him,” Lewis said of Brady’s view of the now-disgraced FTX founder. “I think Tom Brady thought he was a really interesting person. I think he liked to hear what he had to say.”

“It was funny to watch that interaction,” Lewis said of Brady and Bankman-Fried, who he described as not being a “big sports person.”

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

“I think as time has gone by,” Lewis added, “and [Brady’s] ceased to get a really good explanation about what’s happened — I think he’s just like, ‘He tricked me. I’m angry. I don’t wanna have anything to do with it anymore.’”

Brady is among several celebrities who are the subject of a class-action lawsuit filed in Florida in Dec. 2022, accusing the group — a list that includes Brady, his now ex-wife Gisele Bündchen, Curry, Shaquille O’Neal, Larry David, and others — of not performing “any due diligence prior to marketing these FTX products to the public,” per a New York Times report in July.

The earlier Times report also differed from Lewis’s account, noting that FTX paid Brady $30 million, “a deal that consisted almost entirely of FTX stock.” Bündchen reportedly received $18 million in FTX stock, a commodity that is now essentially worthless following the revelations about the cryptocurrency exchange.

Bankman-Fried’s trial gets underway in a Manhattan federal courtroom on Tuesday, in which the 31-year-old could face a maximum sentence of 110 years in prison.

Scores and schedule:

The Bruins lost to the Flyers 3-1 in Monday’s preseason game. Boston plays two more preseason contests (including one tonight against the Rangers at 7 p.m.) before beginning the regular season on Oct. 11 against Chicago at TD Garden.

On Wednesday, the Revolution will host Columbus Crew in a game that will help determine Eastern Conference playoff seeding. It’s set to kick off at 7:30 p.m.

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