For some reason the Lakers received a $4.6 Million loan from the government!
I guess the team applied for a loan through the Small Business Administration's Paycheck Protection Program, which is suppose to help small businesses during the COVID-19 pandemic. However after the program was launched many small businesses weren't able to get any money because the pool of money was depleated!
In a statement to ESPN the lakers said "The Lakers qualified for and received a loan under the Payroll Protection Program," - "Once we found out the funds from the program had been depleted, we repaid the loan so that financial support would be directed to those most in need. The Lakers remain completely committed to supporting both our employees and our community."
I guess I can understand why they would apply for it because they do have a lot of employessI guess it makes sense that the team would apply for it because they do have a lot of employees in the company but there are a lot of small businesses that need that money as well!
The Lakers asked some of their top-earning executives to voluntarily defer 20 percent of their salary to help protect the jobs of some lower-paid employees.