Nearly 4,000 sports businesses (473 sports teams, plus athletic conferences, equipment retailers and halls of fame) received $1.72 billion in federal Paycheck Protection Program loans, part of the expansive federal relief package enacted in March. More information about the loans was made public following a judge's order in November. Sportico, an industry news site, compiled the data.
The forgivable loans were designed to support employment in the first coronavirus-related shutdowns, and supported 235,475 jobs in the sports sector. At least 286 sports businesses received loans of $1 million or more. Recipients included owners of the Pittsburgh Penguins, a pro ice-hockey team, and three Major League Soccer teams.
No NFL, NBA, NHL or MLB teams accepted PPP money. The Los Angeles Lakers received a loan, but later returned it after public scrutiny.