Media

Former ad boss to pay back Revolate for Patriots tickets

Andrew Spellman, who owned ad agency holding company Revolate when it went bust this fall, has gotten tackled for a loss over his love of the New England Patriots.

The failed businessman, a former Goldman Sachs banker, has agreed to pay the bankrupt Revolate estate for most of the 24 Patriots’ season tickets he bought with company cash, court papers show.

Spellman, who spent a total of $159,650 in Revolate funds for the $665 tickets, bought them in his name, court papers show.

When Revolate went bust, several employees of the firm and its Lipman NYC agency did not receive paychecks as the companies had run out of cash.

Under a deal hammered out with Gregory Messer, Revolate’s Chapter 7 trustee, Spellman has forked over $63,860, the cost of tickets to four games, and will write a check to the estate for $15,965 on the Friday before the two remaining home games.

Some tickets to the remaining games were sold to a third party.

Spellman is unable to try and sell the tickets at a profit because team regulations bar the reselling of tickets at above face value, court papers maintain.

Revolate ran into financial trouble when Spellman pushed a rapid expansion plan, acquiring several companies — including high-end advertising boutique Lipman, which was later accused of fraud by jeweler Harry Winston for nonpayment of media buys last holiday season.

Lipman worked for clients such as Stuart Weitzman and counted former NHL player Sean Avery among its executives. Avery is still owed money by the firm.

A Manhattan Bankruptcy Court judge is expected to approve Spellman’s repayment plan on Dec. 16.