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Tom Brady Spends Big Bucks On Land In Calif.

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Aug 27, 2008 8:45 am US/Pacific

Tom Brady Spends Big Bucks On Land In Calif.

BOSTON (CBS) ―

Click to enlarge 1 of 1: Tom Brady and Gisele Bundchen (File Image)
Andrew H. Walke/Getty Images

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New England Patriots quarterback Tom Brady has just bought a plot of land in California for $11 million, TMZ reports.

The entertainment news site said Brady's newly purchased land is in Brentwood, California on Arnold Schwarzenegger's street.

It is reported that Brady took a mortgage out for $8.225 million and will pay it back in five years, according to TMZ. He allegedly purchased the land under the name "TGBE."

A source close to Brady told TMZ the star quarterback bought the land so he could be closer to his son, but a source close to the child's mother, Bridget Moynahan said that is not true.