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The Los Angeles Lakers have found themselves in an unfortunate situation: The National Basketball Association (NBA) club has received undeserved support to rescue small businesses.
In the United States, the Paycheck Protection program was launched to support small businesses and help preserve the lowest-paying jobs. Up to $ 349 billion has been allocated to this fund.
The Lakers, one of the most expensive franchises in the NBA, solicited support and received $ 4.6 million. It is true that, realizing its mistake, the organization returned the money to the fund to redistribute it with greater determination.
The Los Angeles club was the only one in the league that received support for small businesses, but so did larger, non-sports-related companies. AutoNation, for example, has received up to $ 77 million in support, but has also returned the money.
The Lakers were valued at $ 4 billion before NBA battles were suspended. The matchcasting club alone earns $ 150 million a year.
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