Penguins, valued at $650M, received $4.82M COVID loan

There are 123 teams among the Big Four North American Men’s Sports Leagues (MLB, NFL, NBA and NHL).

Only one of them received a loan under the Paycheck Protection Program.

That team is the Pittsburgh Penguins, who received a loan of $4.82 million through the program authorized by the CARES Act.

According to the Small Business Administration’s website, “The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll.”