[News] Pens received a $4.8M PPP loan, the only team to receive a loan from the big 4 league

[Otto-matic]

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.

Also its the same day news broke that Burkle bought Neverland ranch. Definitely not a good look for the Pens.

https://nypost.com/2020/12/27/pengui...rce=reddit.com

[Fire]

If it's a loan don't they have to pay it back? Don't see the issue if that is the case.

[Alpheus]

Originally Posted by Wikipedia

PPP Eligibility: Have a tangible net worth that did not exceed $15 million on March 27, 2020, and an average net income that did not exceed $5 million for the two full fiscal years prior the date of the PPP application