Taylor Swift agreed to a sponsorship cope with FTX before it was reportedly rejected on the last minute by then-CEO Sam Bankman-Fried — contradicting earlier claims by the “Shake It Off” singer that it was her business acumen that scuttled the cope with the alleged crypto fraudster.
Swift’s representatives and FTX were negotiating a tour sponsorship agreement within the spring of last 12 months that might have netted the pop star as much as $100 million, in accordance with The Recent York Times.
After six months of talks, Swift’s representatives signed a sponsorship agreement, The Times reported.
But it surely was Bankman-Fried — a “fan of Tay Tay” who initially pursued a cope with the singer — who ended up pulling the plug, in accordance with The Times.
The reversal by Bankman-Fried frustrated Swift’s representatives, The Times reported.
The Post has sought comment from Swift’s representatives.
Bankman-Fried, who goes on trial this fall, declined comment.
Taylor Swift’s representatives signed a sponsorship agreement with failed cryptocurrency exchange FTX, in accordance with a report.Getty Images for TAS Rights Management
The Times report appears to refute earlier claims that it was Swift who put the kibosh on the deal after doing her due diligence on FTX — which imploded last November after it was learned customer funds were used to cover dangerous bets made by sister hedge fund Alameda Research.
“FTX wanted Taylor to endorse them by doing commercials, interviews and promotional events on their behalf like other celebrities were doing at the moment but she wouldn’t conform to endorse FTX,” an individual conversant in the situation but desired to be anonymous told The Post on Thursday.
“Negotiations were narrowed all the way down to a tour sponsorship deal,” the source said. “That’s why the deal was never finalized.”
Sam Bankman-Fried reportedly aborted the agreement with Swift.AP
The Financial Times had reported last December that several people in Bankman-Fried’s inner circle were urging him to desert talks with Swift due to the steep price tag.
But Bankman-Fried supported the endorsement deal, which was spearheaded by one among his top senior executives, Claire Watanabe, the FT reported.
Nevertheless, a source cited within the FT article said, “Taylor wouldn’t, and didn’t, conform to an endorsement deal.”
“The discussion was around a possible tour sponsorship that didn’t occur.”
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Last 12 months it was reported that Swift resisted business overtures from FTX after conducting her due diligence on the firm.Getty Images for TAS Rights Management
Swift, whose large-scale multi-stadium Eras Tour is anticipated to rake in a record $1 billion, appears to have dodged a bullet.
Other celebrities who entered into partnerships with FTX, including Tom Brady, his supermodel ex-wife Gisele Bündchen, “Curb Your Enthusiasm” star Larry David, and retired NBA legend Shaquille O’Neal, have been named in several lawsuits alleging they duped retail investors.
The Times report states that Brady lost some $30 million after he was given a stake in the corporate while Bündchen lost $18 million.
FTX imploded last 12 months after it was learned Bankman-Fried allegedly used customer funds to cover losses by his hedge fund, Alameda Research.Christopher Sadowski
Bankman-Fried has been charged by the federal government with fraud for allegedly cheating investors and looting FTX customer deposits, a part of which was used to fund lavish lifestyles.
He has pleaded not guilty to all charges as he awaits trial at his parent’s home in Palo Alto, Calif., where the terms of his $250 million personal recognizance bond severely limit his online communications and talent to maneuver money.
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