Taylor Swift agreed to a sponsorship deal with FTX before it was reportedly dropped at the last minute by then-CEO Sam Bankman-Fried – contradicting the “Shake It Off” singer’s earlier claims that it was her business acumen that blew up a deal with an alleged cryptocurrency scammer.
Swift and FTX representatives negotiated a sponsorship deal for a tour last spring that might fetch the star as much as $100 million. in line with The Recent York Times.
After six months of talks, Swift’s representatives signed a sponsorship deal, reports The Times.
But it surely was Bankman-Fried – a “Tay Tay fan” who initially sought a deal with the singer – who ultimately pulled the plug, in line with The Times.
Bankman-Fried’s reversal has frustrated Swift’s representatives, reports The Times.
The Post asked Swift’s representatives for comment.
Bankman-Fried, who will appear in court this fall, declined to comment.
![Representatives of Taylor Swift have signed a sponsorship deal with failed cryptocurrency exchange FTX, according to the report.](https://nypost.com/wp-content/uploads/sites/2/2023/07/NYPICHPDPICT000013507101.jpg?w=1024)
The Times’ report appears to refute earlier claims that Swift had downplayed the FTX due diligence deal – which collapsed last November after it emerged that client funds had been used to cover the dangerous bets of sister hedge fund Alameda Research. .
“FTX wanted Taylor to support them by doing commercials, interviews and promotional events on their behalf, as other celebrities did at the time, but she refused to endorse FTX,” an individual familiar with the situation but wishing to stay anonymous told The Post. Thursday.
“Negotiations have narrowed all the way down to a tour sponsorship deal,” the source said. “That is why the deal was never finalized.”
![Reportedly, Sam Bankman-Fried broke his deal with Swift.](https://nypost.com/wp-content/uploads/sites/2/2023/06/NYPICHPDPICT000012739491-1.jpg?w=1024)
reported the Financial Times last December that several people in Bankman-Fried’s inner circle urged him to desert talks with Swift due to the high price.
But Bankman-Fried backed an endorsement deal chaired by one in all its top executives, Claire Watanabe, the FT reports.
Nonetheless, a source quoted in the FT article said: “Taylor wouldn’t and wouldn’t conform to an promoting deal.”
“The discussion was about potential tour sponsorship, which didn’t occur.”
.
![Last year, it was reported that Swift resisted business overtures from FTX after conducting due diligence on the company.](https://nypost.com/wp-content/uploads/sites/2/2023/07/NYPICHPDPICT000013633703.jpg?w=683)
Swift, whose large-scale, multi-stadium Eras Tour is ready to gross a record $1 billion, appears to have escaped the bullet.
Other celebrities who’ve teamed up 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 cheating retail investors.
The Times report said Brady lost about $30 million after he received shares in the company, while Bündchen lost $18 million.
![FTX imploded last year after learning that Bankman-Fried had allegedly used client funds to cover losses through his hedge fund Alameda Research.](https://nypost.com/wp-content/uploads/sites/2/2023/06/NYPICHPDPICT000002633071.jpg?w=1024)
Bankman-Fried has been charged with fraud by the federal government for allegedly defrauding investors and looting FTX customer deposits, a few of which was used to fund a lavish lifestyle.
He pleaded not guilty to all charges while awaiting trial at his parents’ home in Palo Alto, California, where the terms of his $250 million personal exploratory guarantee severely limit his online communications and skill to transfer money.
With Postal Wires