Tom Brady looking at horrific financial situation

While Tom Brady’s time with the Tampa Bay Buccaneers will continue for at least one more game and his NFL career may or may not continue beyond this season, it’s safe to say it hasn’t been the best year for his personal life.

Along with his marriage falling apart and ending in divorce, Brady’s crypto investments hit a serious snag with the collapse of FTX, which he and his former wife Gisele Bündchen heavily invested in last year.

Brady not only invested in and promoted FTX, which declared bankruptcy in late 2022, but was part of a lawsuit that accuses FTX of being a Ponzi scheme and accused celebrities like Brady and Gisele of “funneling investors into the FTX Ponzi scheme, and promoting and substantially assist in the sale of the (accounts), which are unregistered securities.”

Brady’s unexplained absence during training camp also seemed to coincide with the timing of FTX’s initial collapse, leading some to speculate if they were related.

It was presumed at the time that Brady’s and Gisele’s investments would be worth nothing now. And with the news that FTX is filing bankruptcy, that now appears to be all but true.

Brady owns 1.1 million common shares of FTX, while Bundchen owns 686,000 shares, according to bankruptcy court documents filed Monday, says CNN Business. While the financial amounts they invested for those shares remain unknown, it’s extremely unlikely they’ll ever see anything for it.

“When companies go bankrupt, stockholders are typically the last in line to recover any funds. US bankruptcy laws stipulate that creditors — in FTX’s case, customers who’d deposited money on the platform — be repaid first,” said CNN.

If Brady needed any extra motivation to keep his playing career going, the need to make up for those lost investments might just do it.

[CNN Business]