FTX is one of the most controversial companies in the world of sports. Spearheaded by Sam Bankman-Fried, the company looked to the world of sports to build up its brand name. Targeting the likes of Tom Brady, Stephen Curry, and Shaquille O’Neal, FTX gained notoriety in the crypto world. However, it has been a year since the company collapsed. Filing for bankruptcy, Bankman-Fried is in a lot of hot water, and so are his former partners in the world of sports. According to author Michael Lewis, who appeared on 60 Minutes, athletes were paid boatloads of cash, with Steph reportedly earning $35,000,000.
Shaquille O’Neal was a major name brought up after FTX’s collapse. As lawyers looked to serve all those involved with the company, Shaq did his best to avoid the same. They waited, months on end to serve the Hall of Famer, even waiting outside TNT studios.
However, the Big Diesel couldn’t evade them for long, and he was finally served in May this year. What’s more, it was right in the middle of covering the Eastern Conference Finals match between the Boston Celtics and the Miami Heat.
Sam Bankman-Fried and FTX reportedly paid Stephen Curry $35,000,000
Stephen Curry is quite a savvy businessman. After all, he has not only established an empire worth $215,000,000 but also secured numerous brand deals. That being said, not all of the brands Steph is associated with are working out. In particular, his partnership with FTX has gone completely off the rails.
Having filed for bankruptcy last year, the crypto company is in the news and for all the wrong reasons. Their association with some of the world’s biggest athletes has also put them under the spotlight. In fact, recently, author Michael Lewis shared some groundbreaking information about how much the company invested in sports.
According to Lewis, FTX spent boatloads of money on their athlete partners. And, Steph, who has appeared in several ads for FTX, reportedly earned a whopping $35,000,000 over three years. This figure is likely what put Curry under investigation, resulting in a class-action lawsuit being filed both against him and the Golden State Warriors.
However, Steph isn’t the only major sports figure who’s been dumped from the frying pan into the fire. Tom Brady and Shaquille O’Neal have also been paid exorbitant amounts of cash. Not to mention, the hundreds of millions the company spent on the naming rights for the Miami Heat arena. It’s a huge scandal and one that is unlikely to end anytime soon.
Shaquille O’Neal jokingly blamed Steph for getting him into trouble with FTX
As mentioned earlier, Shaquille O’Neal, who was also involved with FTX, tried his level best to evade any lawsuits that had his name on them. While he ultimately failed, prior to being served, he was looking for someone to blame. So, he jokingly blamed Stephen Curry during an interview.
Alluding that Steph had gotten him in trouble, whether he was referring to the FTX scandal or not is still unknown. But, based on speculation, in all likelihood, that was the “trouble” he was talking about.
The FTX saga is yet to come to a conclusion. The lawsuit between investors and the company is still raging, and as time passes, more and more information is coming to light. How this will affect the athletes involved? Only time will tell.
