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Thursday, November 21, 2024

Tom Brady Has Over 1.1M Shares in Now-Bankrupt FTX

  • FTX filed for bankruptcy in November.
  • Forbes previously estimated Tom Brady’s stake in FTX was worth around $45 million.
Tom-Brady
Mark J. Rebilas-USA TODAY Sports

Tom Brady is facing more than just lawsuits for his association with FTX.

According to court documents, the NFL legend is among the bankrupt crypto exchange’s largest individual equity shareholders — with more than 1.1 million common shares. His ex-wife Gisele Bündchen has more than 686,000.

The value of the shares are unknown, but Forbes previously estimated Brady’s stake was worth around $45 million. FTX landed a $32 billion valuation in January 2022.

KPC Venture Capital, which is linked to New England Patriots owner Robert Kraft, will also be affected. 

  • The investment firm owns more than 110,000 Series B preferred shares in FTX’s main platform.
  • KPC also owns 479,000 common shares and 43,545 Series A preferred shares in West Realm Shires, which controls the exchange’s U.S.-based operations.

NBA player Udonis Haslem is also a stakeholder. 

Miami’s Money

On Wednesday, a federal bankruptcy judge agreed to allow the removal of FTX branding from the Miami Heat’s home arena.

Miami-Dade County, the arena’s owner, was around 18 months into a 19-year deal reportedly worth $135 million. The county received roughly $20 million from the deal and is looking for a new venue sponsor.

FTX co-founder Sam Bankman-Fried pleaded not guilty to eight criminal charges related to FTX’s collapse on Jan. 3.

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