A new report has revealed that former NFL quarterback Tom Brady was paid a staggering $55 million to appear in commercials for the now-defunct cryptocurrency exchange FTX. As part of the deal, Brady was required to devote only 20 hours of his time per year over three years. The disclosure was made by author Michael Lewis, who said he reviewed confidential documents backing the claim.
Celebrity Endorsements Under the Microscope
Joining Brady in the FTX endorsement hall of fame was basketball star Stephen Curry, who reportedly pocketed $35 million. Lewis described the relationship between FTX founder Sam Bankman-Fried and Brady as surprisingly close: “Sam wasn’t a big sports person, so it was funny to watch… like the class nerd and the quarterback.” However, the friendship didn’t protect either from the exchange’s spectacular collapse in late 2022.
Millions in Compensation, Billions in Losses
Despite receiving FTX stock as part of their compensation, both Brady and Curry saw the value of those shares evaporate when the exchange filed for bankruptcy. Brady alone is estimated to have lost $30 million, while his ex-wife Gisele Bündchen saw her net worth drop by $18 million due to her FTX holdings. According to Lewis, an angry Brady accused Bankman-Fried of tricking him into endorsing the platform, stating he no longer “wanted to have anything to do with it.”
A Warning for High-Profile Stars
The Brady and Curry saga underscores the dangers of celebrity endorsements in the unregulated crypto space. FTX’s downfall wiped out billions in customer funds and led to numerous lawsuits against its promoters. For athletes accustomed to lucrative sponsorship deals, the FTX case serves as a stark reminder that not all multi-million dollar paydays come without strings—or catastrophic losses.