Tampa Bay Buccaneers quarterback Tom Brady could be set to lose an absolute fortune after crypto company FTX filed for bankruptcy - a company which Brady and wife Gisele Bundchen have an equity stake in.
FTX plummeted in value earlier with a huge collapse of the $32billion (£27bn) valued company founder by Sam Bankman-Fried. Just over a year ago, Brady and Bundchen had taken equity stakes in the company, with Brady being a brand ambassador, appearing in adverts for the crypto exchange, as Bundchen would be the company’s environmental and social initiatives adviser.
Reports suggested that Bankman-Fried lost an estimated $14.6bn (£12.3bn) - around 94 percent of his net worth - before he resigned from the company with immediate effect.
Brady and Bundchen are not expected to suffer losses anywhere close to that of the former CEO, but could lose millions after becoming highly involved with the company.
The couple officially filed for divorce last month after 13 years of marriage following months of speculation. The two have two children together.
According to TMZ, lawyers for both parties have been working with a mediator to iron out the details and decide both property settlement and custody. The couple have also been reported to have reached an agreement over the terms of the high-profile split.
Brady and Bundchen have a combined net worth of $650 million, according to CelebrityNetWorth.com. The terms of their divorce are not fully known and will remain confidential and sealed.
It has been a steady decline for cryptocurrencies over the past few months, with both Bitcoin and Ethereum suffering huge losses this week.
Experts have called the shock collapse of FTX as an 'alarming warning', whilst investors 'should be cautious for a while'. Brady has had a turbulent year both on and off-the-field, after retiring earlier this season before returning just 40 days later.
Bundchen, who has reportedly issued a retirement ultimatum to Brady in the past, was then reported to not be living with Brady before months of speculation about the couple's marriage coming to an end, which they ultimately confirmed with statements on October 28.
On the field, Brady's team currently have a losing record with their offense largely struggling around him. However, they remain atop of their division and will hope to secure a second consecutive victory when they face the Seattle Seahawks in Munich in Sunday.
