Football star Brady is said to have paid out the huge sum just months after he and Brazilian Bundchen put their apartments in Manhattan, New York up for sale.

According to TMZ.com, Brady has taken out a five-year mortgage for the three-acre plot of land in L.A.'s Brentwood area, on the same street where Terminator star Arnold Schwarzenegger lives.

A source tells the website Brady plans to build a home on the land so he can be closer to his son by actress Bridget Moynahan.

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