Tom Brady, Floyd Mayweather businesses received PPP loans

Companies owned by Floyd Mayweather, Tom Brady among sports entities granted PPP relief money

Tom Brady, Floyd Mayweather businesses received PPP loans

The boxing promotion run by Floyd Mayweather, named the highest-paid athlete of the 2010s by Forbes, was among a long list of sports entities that received Paycheck Protection Program (PPP) loans from the federal government during the COVID-19 pandemic. Tom Brady’s company TB12 was also on the government’s list of companies granted loans.

The program was intended to help smaller businesses deal with the economic impact of the shutdown that began in the middle of March. Mayweather Promotions was one of three of boxing’s biggest promotions to apply for money. Teams in MLS, NASCAR and IndyCar, as well as the NWSL and Big 3 Basketball, also received relief.

Mayweather Promotions gets PPP loan

Floyd Mayweather Jr.'s promotion company applied for and was granted a PPP loan. (REUTERS/Issei Kato)

Mayweather Promotions, Bob Arum’s Top Rank company and Golden Boy Promotions, owned by Oscar De La Hoya, all applied for between $350,000 and $1 million, according to data released Monday by the U.S. Small Business Administration.

Mayweather was named the highest-paid athlete of the past decade by Forbes with $915 million in earnings. His promotion shut down its events on March 17, with no date for a return.

The data was released in loan amount ranges and showed businesses that applied for and were granted the loan, per the Associated Press. Businesses may have chosen to not take the funds.

Congress made $659 billion available in low-interest loans to help businesses through the economy’s shutdown. The loan can be forgiven if the money is used for payroll, rent and similar expenses.

More than 80 percent of the 4,880,943 approved loans were for less than $150,000. The Trump administration has refused to release the data on those, per the AP.

News organizations have filed a lawsuit to access them.

Brady’s TB12 on list of loans

NBC 10 in Boston reported that Brady’s TB12 Inc. was granted between $350,000 and $1 million in PPP loan money. The lifestyle brand expanded to include TB12 Performance & Recovery Centers, which were shut down during the pandemic.

With his move from Foxborough to the Tampa Bay Buccaneers, the company also reportedly planned to bring TB12 to the new market. Brady signed a two-year, $50 million contract in the offseason.

He has been working out with teammates in Tampa, despite the NFL Players Association urging against group workouts, and promoting his TB12 supplements heavily on Instagram.

Soccer teams, league apply for PPP

At least four MLS teams were involved in the program. Per the AP, D.C. United and Inter Miami were in the $1 million to $2 million range. Orlando City and the Seattle Sounders were in the $2 million to $5 million range.

The Athletic reported in May that at least 12 clubs submitted an application. Seven will not use money they were offered. The Seattle Times reported around the same time that the Sounders used their PPP loan to retain a support staff of nearly 140 people.

The NWSL, which has 16 on staff and more than 200 players paid by the organization, confirmed to The New York Times it took an unspecified amount and used 100 percent of it on payroll.

Lisa Baird, the league’s commissioner who took over March 10, told the Times:

“Our sole intent in applying for the P.P.P. loan was to continue player compensation. With ours, the calculus was pretty simple. Either you’re going to pay your players or you’re going to furlough them. What could we do?”

Baird said the money was a bridge to pay players while the league came up with a plan and additional sponsorships for a summer Challenge Cup tournament in Utah that began late last month.

Racing world approved for ‘substantial’ loans

Per the AP, a “bulk” of NASCAR and IndyCar teams were approved for “substantial” loans.

NASCAR teams included Richard Childress Racing and Roush Fenway Racing, both championship winners, and Richard Petty Motorsports, Jimmie Johnson Racing, Kyle Busch Motorsports and Jeff Gordon Inc.

Nearly every full-time IndyCar team was approved, per the AP. Team Penske was not included. Pocono Raceway in Pennsylvania also got a loan between $350,000 and $1 million.

Other entities got PPP loans

Big 3 Basketball LLC, the 3-on-3 league founded by Ice Cube, got $1.6 million and returned $700,000, company spokesman Jeremy Watkins told the AP. The money was used to pay coaches and players for the season and ensure there is a 2021 season, Watkins said.

The league was set to enter its fourth season this summer before calling it off in May. It is reportedly still working on a reality show-style tournament, “Big 3: Not in My House,” that it hopes to premiere before the 2021 season. That event was initially planned for April.

More than a dozen minor league baseball teams were on the PPP list, per the AP, including Ohio Gov. Mike DeWine’s DeWine Seeds-Silver Dollar Baseball LLC. It was given between $150,000 and $350,000.

At least four smaller college conferences and the Sugar Bowl also applied for and were granted loans. An AP survey in May found 70 percent of all Olympic federations applied for PPP loans.

Big leagues, teams stay PPP

The NFL, NBA, NHL and MLB were not on the government list for PPP loans. The Los Angeles Lakers were criticized in April when they received a $4.6 million loan and small businesses in more dire situations had trouble accessing the program.

The Lakers announced they gave back the loan when they realized the “funds for the program had been depleted.” The Lakers’ estimated worth is $4 billion.

More from Yahoo Sports:

“,”author”:”Cassandra Negley·WriterJuly 7, 2020, 7:22 AM·5 min read”,”date_published”:null,”lead_image_url”:”https://s.yimg.com/ny/api/res/1.2/1IzWEFsvNos4sxzA1Xi_9A–/YXBwaWQ9aGlnaGxhbmRlcjt3PTIwMDA7aD0xMzE5/https://s.yimg.com/os/creatr-images/2020-07/d12b58d0-c05a-11ea-93db-f0a7773fa564″,”dek”:null,”next_page_url”:null,”url”:”https://sports.yahoo.com/floyd-mayweather-tom-brady-companies-sports-organizations-granted-ppp-relief-money-142216529.html”,”domain”:”sports.yahoo.com”,”excerpt”:”Mayweather Promotions, TB12 and Golden Boy Promotions were among a long list of sports organizations granted government money during the shutdown.”,”word_count”:900,”direction”:”ltr”,”total_pages”:1,”rendered_pages”:1}

Источник: https://www.yahoo.com/lifestyle/floyd-mayweather-tom-brady-companies-sports-organizations-granted-ppp-relief-money-142216529.html

Tom Brady and Floyd Mayweather have companies that have been granted PPP loans

Tom Brady, Floyd Mayweather businesses received PPP loans

was among a long list of sports companies that received Government Paycheck Protection Program (PPP) loans during the Covid-19 pandemic. Tom BradyTB12 was also on the list of companies that were granted credit.

“Data-reactid =” 16 “> The boxing promotion from Floyd Mayweather, named by Forbes as the highest paid athlete of the 2010s, was among a long list of sports companies that received Government Paycheck Protection Program (PPP) loans during the Covid-19 pandemic.

Tom BradyTB12 was also on the list of companies that were granted credit.

should help smaller businesses do business with the economic impact of the shutdown that started in mid-March. Mayweather Promotions was one of three of the biggest boxing campaigns to apply for money. Teams in MLS, NASCAR and IndyCar as well as in NWSL and Big 3 basketball also received relief.

“Data-reactid =” 17 “> The program should help smaller businesses do business with the economic impact of the shutdown that started in mid-March. Mayweather Promotions was one of three of the biggest boxing campaigns to apply for money.

The teams in MLS, NASCAR and IndyCar as well as in NWSL and Big 3 basketball were also relieved.

Mayweather Promotions receives PPP loan

The Floyd Mayweather Jr. advertising company applied for and received a PPP loan. (REUTERS / Issei Kato)

Data released on Monday by the U.S. Small Business Administration.“data-reactid =” 30 “> Mayweather Promotions, Bob Arum’s top-ranked companies, and Golden Boy Promotions, owned by Oscar De La Hoya, requested between $ 350,000 and $ 1 million Data released on Monday by the U.S. Small Business Administration.

turn off his events on March 17th without a date for a return. “data-reactid =” 31 “> Mayweather has been named the highest paid athlete in the past decade by Forbes for $ 915 million turn off his events on March 17th with no date for return.

The data was released in credit amount ranges and showed companies that had applied for and granted the loan, according to the Associated Press. Companies may have chosen not to take the funds.

in low-interest loans to help businesses by closing the economy. The loan can be granted if the money is used for payroll, rent and similar expenses. More than 80 percent of the 4,880,943 approved loans were for less than $ 150,000. The Trump administration has refused to release the data, according to the AP. News organizations have filed a lawsuit to access them.

“Data-reactid =” 33 “> Congress provided $ 659 billion in low-interest loans to help businesses by closing the economy. The loan can be granted if the money is used for payroll, rent and similar expenses. More than 80 percent of the 4,880,943 approved loans were for less than $ 150,000. The Trump administration has refused to release the data, according to the AP.

News organizations have filed a lawsuit to access them.

Bradys TB12 on the list of loans

Bradys TB12 Inc. was granted between $ 350,000 and $ 1 million in PPP loan funds. The lifestyle brand was around TB12 Performance & amp; Recovery centers that were closed during the pandemic.

“Data-reactid =” 35 “> NBC 10 in Boston reported this Bradys TB12 Inc. was granted between $ 350,000 and $ 1 million in PPP loan funds.

The lifestyle brand was expanded to include TB12 Performance & Recovery Center, which were closed during the pandemic.

Tampa Bay BuccaneersThe company also reportedly planned to launch TB12 in the new market. Brady signed a $ 50 million two-year contract in the off-season. “Data-reactid =” 36 “> With his move from Foxborough to the USA Tampa Bay BuccaneersThe company also reportedly planned to launch TB12 in the new market. Brady signed a $ 50 million two-year contract in the off-season.

trained with teammates in Tampa, despite the NFL Players Association pushing against group training and heavily promoting its TB12 supplements on Instagram. “data-reactid =” 37 “> He has trained with teammates in Tampa, despite the NFL Players Association pushing against group training and heavily promoting its TB12 supplements on Instagram.

Racing World approved for “substantial” credits

According to the AP, a “majority” of the NASCAR and IndyCar teams were approved for “substantial” loans.

NASCAR teams included Richard Childress Racing and Roush Fenway Racing, both championship winners, as well as Richard Petty Motorsports, Jimmie Johnson Racing, Kyle Busch Motorsports and Jeff Gordon Inc.

Almost every full-time IndyCar team has been approved according to the AP. Team Penske was not included. Pocono Raceway, Pennsylvania also received a loan of between $ 350,000 and $ 1 million.

Other companies received PPP loans

Big 3 Basketball LLC, the 3-on-3 league founded by Ice Cube, received $ 1.6 million and returned $ 700,000, spokesman Jeremy Watkins told the AP. The money was used to pay coaches and players for the season and ensure that there is a 2021 season, Watkins said.

before you cancel it in May. It is said that work is still underway a reality show tournament, “Big 3: Not in my house” that it hopes to premiere before the 2021 season. This event was originally scheduled for April.

“Data-reactid =” 56 “> The league should start its fourth season this summer before you cancel it in May. It is said that work is still underway a reality show tournament, “Big 3: Not in my house” that it hopes to premiere before the 2021 season.

This event was originally scheduled for April.

According to the AP, more than a dozen minor league baseball teams were on the PPP list, including DeWine Seeds-Silver Dollar Baseball LLC from Mike DeWine, governor of Ohio. There were between $ 150,000 and $ 350,000.

At least four smaller college conferences and the Sugar Bowl also applied for loans. An AP survey in May found that 70 percent of all Olympic associations applied for PPP loans.

Big leagues, teams stay away from PPP

were criticized in April when they received a $ 4.6 million loan and small businesses in worse situations had trouble accessing the program.

“data-reactid =” 60 “> The NFL, NBA, NHL and MLB were not on the government list for PPP loans, the Los Angeles Lakers were criticized in April when they received a $ 4.

6 million loan and small businesses in worse situations had trouble accessing the program.

The Lakers announced that they had returned the loan when they found that the program had run funds. The Lakers are valued at $ 4 billion.

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Источник: https://scoreciti.com/2020/07/tom-brady-and-floyd-mayweather-have-companies-that-have-been-granted-ppp-loans/

Which Sports Team Got the Most COVID-19 Aid From the U.S. Government? – Sportscasting | Pure Sports

Tom Brady, Floyd Mayweather businesses received PPP loans

When LeBron James and Anthony Davis finished polishing off the Miami Heat in the NBA finals in October, it gave the Los Angeles Lakers the perfect ending to the strangest basketball season ever. It also made it that much easier to forget the embarrassment of a franchise worth $4 billion trying to nickel-and-time taxpayers and then returning the money during the pandemic.

It turns out, however, that NASCAR teams and other sports organizations had no reservations about taking the cash.

What is the Payroll Protection Program?

RELATED: What Is the Most Valuable NBA Franchise?

This thing that people were calling the coronavirus virus was barely a blip on the radar screen to most Americans in early February of 2020. A month later, the U.S. economy was brought to a screeching halt by mandatory shutdowns of businesses meant to keep citizens at home and not spreading the COVID-19 virus.

With money not coming in, businesses of all sizes began layoffs that led to a surge in unemployment. To keep the numbers from growing worse, the federal government announced the Paycheck Protection Program, which issued loans intended to allow small businesses to keep their workers on the payroll.

The stimulus program through the Small Business Administration was structured in a way that the low-interest loans would be forgiven if recipients put the money to use for eligible expenses – primarily the weekly payroll. In all, the federal government approved 5.2 million loans worth $659 billion.

The Los Angeles Lakers applied and received $4.6 million

RELATED: The Least Valuable NBA Team Is Still Worth an Astounding $1.3 Billion

Shortly after the money from the Payroll Protection Program started reaching U.S. small businesses in April, it was discovered that the Los Angeles Lakers applied for and received $4.6 million from the federal government.

Given that Forbes says the Lakers are worth more than $4 billion and that ESPN reported that billionaires Philip Anschutz, Patrick Soon-Shiong, and Ed Roski Jr.

are minority partners in the franchise controlled by the Buss family, criticism was swift.

Responding to the outrage, the Lakers announced that they were returning the money so that the government could distribute it to the intended recipients of the program – small businesses.

A survey at the time by HBO’s Real Sports With Bryant Gumbel showed that no other NBA or NFL team applied for assistance through the PPP plan. However, the show’s producers said 27 MLB or NHL teams declined to respond to the question.

By early summer, the Small Business Administration was releasing lists of businesses that had been granted PPP assistance. But the financial information was vague, with the money lumped into broad ranges, such as between $2 million and $5 million.

Pressed in court by news organizations demanding detailed information, the SBA finally released more detailed information this month on forgivable loans of $150,000 or more awarded to nearly 4,000 sports-related businesses.

The team getting the most money turned out to be a well-known one.

The sports industry landed at least $1.72 billion through the PPP

RELATED: The Los Angeles Dodgers Are Worth More Than Almost Every MLB Team

Sportico.com waded through hundreds of thousands of entries from the report on the Payroll Protection Program and found that 3,968 sports businesses received $1.72 billion to support 235,475 jobs during the COVID-19 pandemic.

According to the website, only two recipients took the maximum loan amount of $10 million: The Youfit chain of fitness centers and the New York Racing Association, which runs thoroughbred racing at Aqueduct, Belmont, and Saratoga.

Planet Fitness gyms received at least $26 million spread across six different franchise owners.

Businesses owned by well-known sports figures Floyd Mayweather and Tom Brady also qualified for loans. Brady’s production company, TB12, Inc., received $960,855.

The most interesting data, however, relates to the pro sports teams that received money under the PPP. Although no NFL, NBA, NHL, or MLB teams received direct funding, Sportico determined that Lemieux Group, which holds Mario Lemieux’s stake in the NHL’s Pittsburgh Penguins, accepted $4.82 million.

In soccer, the Seattle Sounders, D.C. United, and Orlando City of MLS all took at least $1.7 million. Orlando’s sum was $2,194,200. The team reportedly is being sold for nearly 200 times that amount.

Which team got the most COVID-19 aid from the government?

RELATED: The Joe Gibbs Move from NFL to NASCAR Began as a ‘Dream on a Piece of Paper’

The biggest recipient in team sports of Payroll Protection Program money is an outfit that casual observers might not think of as a team. Richard Childress’ NASCAR team, RCR Enterprises, accepted a loan of $6.33 million. RCR’s drivers include Austin Dillon and Tyler Reddick in the NASCAR Cup Series.

other racing organizations, however, the operation runs deeper than that. RCR also fields teams on NASCAR’s lesser circuits and runs a shop in North Carolina handling the complicated task of building its cars. RCR’s application to the Small Business Administration cited 334 jobs supported by the forgivable loan.

In fact, North Carolina-based NASCAR teams dotted the list of loan recipients. Chip Ganassi Racing got $3.96 million, Andretti Autosport $2.3 million, and Roush Fenway Racing $3.53 million. The parent company of the Boston Red Sox and the Liverpool soccer team owns half of Roush. Its valued is $6.6 billion as of late last year.

Interestingly, NASCAR’s biggest teams did not take loans. They included Hendrick Motorsports (driver Chase Elliott just won the NASCAR Cup Series title), Stewart-Haas Racing (Kevin Harvick and Clint Bowyer), Joe Gibbs Racing (Denny Hamlin, Kyle Busch), and Team Penske (Joey Logano, Brad Keselowski).

Sportscasting on . Follow us on @sportscasting19.

Источник: https://www.sportscasting.com/which-sports-team-got-the-most-covid-19-aid-from-the-u-s-government/

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