Hundreds Of Sports Properties Revealed As PPP Recipients
The U.S. Small Business Administration today released data on close to 5 million Paycheck Protection Program loans, and a number of sports properties were among the recipients. On the list of 500-plus spectator sports properties that received $150,000 or more from the SBA program, the two largest loans went to NYRA and RCR Enterprises (Richard Childress Racing), which both received between $5M and $10M. That is according to five ranges supplied in today's document, which did not include specific amounts of individual loans. Only companies with 500 or fewer employees were eligible, and only active loans were listed in the data. NYRA’s loan, made by TD Bank and approved on April 12, helped the organization retain 453 jobs. RCR’s loan came from Truist Bank and was approved on April 10; the loan preserved 334 jobs.
Other major loan recipients included MLS clubs (Orlando City and Sounders), N.Y. Road Runners, Chip Ganassi Racing, Roush Fenway Racing, U.S. Ski & Snowboard and Circuit of the Americas, which all received between $2M and $5M. Media entities Whistle and broadcaster FloSports received loans in the same region. Esports organization Envy Gaming received between $1M and $2M. U.S. Figure Skating, USA Basketball, USA Softball and USA Boxing, as well as the U.S. Youth Soccer Association, all received loans.
In the college realm, Conference USA received a loan worth between $350,000 and $1M, which preserved 21 jobs. The National Football Foundation and College Football HOF, Ole Miss Athletics Foundation and National Association of Intercollegiate Athletics (NAIA) also received loans in the same range. At least 30 MiLB and independent league baseball organizations were loan recipients, and horse racing was well-represented too. Of the properties that received loans greater than $300,000, horse track Tampa Bay Downs’ loan of between $2M and $5M reportedly allowed the track to retain 461 jobs, the most on the list.
See more in tonight's SBJ Unpacks newsletter.