$1.72 billion in PPP loans distributed to sports-related businesses this year

Football fans roasted Tampa Bay Buccaneers quarterback Tom Brady over the weekend after finding out he received a $960,855 Paycheck Protection Program loan for his TB12 brand. Apparently, though, many sports-related businesses received a PPP loan this year.

According to Brendan Coffey of Sportico, nearly 3,968 sports-related businesses received $1.72 billion in PPP loans this year to support more than 235,000 jobs.

Here is the breakdown of loans per type of business, according to Coffey:

• Fitness and recreation centers: $781.8 million
• Sporting goods retailers: $270.3 million
• Sports teams: $232 million
• Athletic goods manufacturers: $181.9 million
• Sports instruction: $170.4 million
• Other: $84.5 million

A majority of the businesses received between $150,00 to $200,000 while only 286 received loans of $1 million or more. The New York Racing Association, Belmont and Saratoga horse tracks received a maximum $10 million loan each. 

Multiple Major League Soccer Clubs, including the Seattle Sounders, D.C. United and Orlando City, each received a loan of more than $1.7 million. Mario Lemieux's "Lemieux Group," which owns a stake in the NHL's Pittsburgh Penguins, received a $4.82 million PPP loan. 

RCR Enterprises, Roush Fenway Racing, Chip Ganassi Racing and Andretti Autosport received loans ranging from $2.3 million to $6.33 million. 

According to sba.com, "Any single business entity (including hotels and restaurants) that is assigned an NAICS code beginning with 72 and employs no more than 500 employees per physical location is eligible to receive a PPP loan even if its affiliated companies have more than 500 employees."

While the news of these massive loans likely will spark outrage, each company was well within its rights to file for help.