Tom Brady, Scott Boras amongst sports figures with business on PPP list

Tom Brady’s sports efficiency and nutrition business got funds from the federal Paycheck Protection Program, according to details launched by the U.S. Small Business Administration. 

TB12 Inc., based in Massachusetts, got in between $350,000 and $1 million in a loan processed by Cambridge Savings Bank, according to the SBA list exposing business that made an application for more than $150,000.

The PPP loans and grants belonged to the $2 trillion CARES Act, which President Donald Trump signed into law this spring. The loans were created to assist small companies injured by the coronavirus pandemic keep or rehire workers. 

Brady, 42, accepted a two-year $50 million handle the Tampa Bay Buccaneers in March. The six-time Super Bowl champ has actually made approximately $350 million in his profession, consisting of $45 million in 2019, his last season with the New England Patriots, according to Forbes.

The list does not expose the number of tasks TB12 conserved with the cash or if the business returned the funds. An ask for remark to New York-based public relations company Jonesworks, which represents TB12, was not instantly returned. 

Brady isn’t the only abundant sports figure represented on the list. Major League Baseball incredibly representative Scott Boras, who worked out New York Yankees pitcher Gerrit Cole’s $324 million offer, appears by means of 3 various entities.

The Boras Corp., owned by Boras, had its loan processed by Merchants Bank of Commerce in California. Boras’ very first loan remained in the $1 million to $2 million variety, which assisted keep 69 tasks, according to the list. Boras Marketing and Boras Sports Training Institute got funds in the $150,000 to $350,000 variety.

Boras, who worked out over $2.4 billion in overall agreements, with $118 million in commissions, is ranked 2nd on Forbes’ most power sports representative list.

According to a list assembled by Sports Business Journal, more than 500 sports-related business, consisting of gamer firms, racetracks, ticketing business and minors baseball groups, got funds.

SWB Yankees LLC, a joint endeavor that consists of Yankee Global Enterprises, which owns the New York Yankees, got financing in the $350,000 to $1 million variety. The variety of tasks kept was not offered. SWB Yankees owns the Yankees’ Triple-A affiliate, the Scranton/Wilkes-Barre RailRiders.

The Los Angeles Lakers requested and got $4.6 million in federal loans in April however returned the cash.

SEE: PPP billionaires: Following the cash