Tom Brady’s $55 Million Payout for FTX Partnered Endorsements
Notably, Tom Brady, the renowned former Quarterback of the National Football League (NFL), pocketed an astonishing $55 million for his involvement in collapsed crypto exchange, FTX’s advertising campaigns. As per agreement terms, Brady was meant to contribute 20 hours of his time annually for a span of three years.
Renowned Personalities and their Association with FTX
Highlighting the involvement of noteworthy athletes in FTX’s branding promotions, the former NFL Quarterback, Tom Brady, was handsomely rewarded with $55 million for his appearances in FTX’s sports advertisements. Alongside Brady, Stephen Curry, an eminent basketball professional, was also linked with the exchange, earning a lucrative $35 million offering for his promotional services.
The details regarding the remunerations for Brady and Curry’s promotional services were revealed by Micheal Lewis, a trusted author. Lewis shared these inside details during an interview, where he unveiled some confidential information he procured. As outlined in the agreement, Brady was to dedicate merely 20 hours of his time annually for three consecutive years.
Despite Brady being at the receiving end of million-dollars’ worth of FTX stocks right before the untimely collapse of the crypto exchange, he has reportedly faced a loss approximating to $30 million. Earlier reports signified that Brady’s then-spouse Gisele Bündchen’s net worth also plummeted by $18 million considering the sudden inflation of her FTX stocks.
In the context of SBF’s then-emerging kinship with Brady, Lewis emphasized the unusual bonding. However, Lewis narrated that following FTX’s unexpected downfall in the latter part of 2022, a sour Brady felt duped into endorsing the crypto exchange by Bankman-Fried. Subsequently, Brady ruled out any further association with FTX.
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Frequently asked Questions
1. How much money did Tom Brady earn for FTX commercials?
Tom Brady earned $55 million for FTX commercials.
2. What is FTX?
FTX is a cryptocurrency exchange platform where users can trade various digital assets.
3. Why did FTX collapse?
FTX did not actually collapse. The term “stunning collapse” refers to a hypothetical situation that did not occur in reality.
4. How did Tom Brady secure such a lucrative deal with FTX?
Tom Brady secured the deal with FTX due to his popularity and influence as a highly successful professional football player.
5. What impact does Tom Brady’s endorsement have on FTX?
Tom Brady’s endorsement has the potential to significantly increase FTX’s brand awareness and attract more users to the platform.
6. How do large endorsement deals like Tom Brady’s benefit athletes?
Large endorsement deals provide athletes with substantial financial rewards and can enhance their personal brand and marketability.
7. What are the implications of such a high-value endorsement deal for the cryptocurrency industry?
A high-value endorsement deal like Tom Brady’s with FTX indicates the increasing acceptance and mainstream recognition of cryptocurrencies by influential figures, potentially boosting public trust and adoption of digital assets.