Lakers abused PPP loan system, now returning the 4.6 million dollars

[Clippersfan86]

https://twitter.com/carlquintanilla/status/1254800967310196736?s=20

The Los Angeles Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses .. the team said in a statement to ESPN.

Pretty pathetic. A franchise valued at 4+ billion abused the PPP system and now after being caught up, are returning the funds. These loans are meant for small businesses trying to survive a crises.

[Clippersfan86]

https://twitter.com/darrenrovell/status/1254905791972290561

Lakers were the only team to do this.

[Real Men Wear Green]

Pathetic franchise. Gonna have to deduct a ring for this one. Don't tell me they're trying to buy AD's house... guys that won't get him to stay. That's not how that works.

[FultzNationRISE]

It’s aight.

Theyll announce some new initiative aimed at empowering women and minorities, and release a statement condemning Donald Trump, and the fans will be back eating from their hands once again.

[Clippersfan86]

https://twitter.com/ArashMarkazi/status/1255166025575706624

Treasury Secretary Steven Mnuchin: "I never expected in a million years that the Los Angeles Lakers — which I’m a big fan of the team — but I’m not a big fan of the fact that they took a $4.6-million loan. I think that’s outrageous, and I’m glad they’ve returned it."

Wow. Steven Mnuchin rips the Lakers.

[STATUTORY]

bad look but the lakers is a family owned businesss and the Buss family are not in the same stratosphere as other owners in term of wealth and networth

[RogueBorg]

The news is making it out on how great it was for the Lakers to return the money....why are they applying for it in the first place?

[Clippersfan86]

The news is making it out on how great it was for the Lakers to return the money....why are they applying for it in the first place?

No, the news is rightfully bashing this. Read above. Mnuchin ripped the Lakers on his media rounds for even attempting this. I get it, the Lakers are actually relatively poor among NBA owner peers in terms of wealth. They aren't as poor as the mom and pop pizza shop that is shutting down because all these jackass bigger organizations got PPP loans

[lilteapot]

if the knicks did this, rachel nichols and fraudnarowski would be all over it.

[baudkarma]

The news is making it out on how great it was for the Lakers to return the money....why are they applying for it in the first place?

And why was the application approved? That's what I don't understand. The Feds handed out millions and millions of dollars to companies that are not in financial trouble and don't need the money. Were there no rules about what it would take to qualify for a loan, or was someone just signing checks as fast as they could?

[petezahut]

if the knicks did this, rachel nichols and fraudnarowski would be all over it.

I'm guessing the Patriots were behind this somehow.

[bullettooth]

Pathetic franchise. Gonna have to deduct a ring for this one. Don't tell me they're trying to buy AD's house... guys that won't get him to stay. That's not how that works.

Just like their fanbase.

[Clippersfan86]

And why was the application approved? That's what I don't understand. The Feds handed out millions and millions of dollars to companies that are not in financial trouble and don't need the money. Were there no rules about what it would take to qualify for a loan, or was someone just signing checks as fast as they could?

Mark Cuban brought this up yesterday. Said he doesn't blame the Lakers one bit, blame the treasury department.