Lakers Return PPP Funds, Ball Brothers Sign With Rock Nation, Peloton’s Largest Streamed Class
BASKETBALL
The LA Lakers received one of the taxpayer-backed loans under the Paycheck Protection Program. The program is meant to give companies taxpayer-backed, forgivable loans if they keep their employees during this crisis. The disbursement of funds, however, has been uneven. The Lakers explained they would be returning the money (as many other well-off companies and institutions have done) and said, “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.â€
Peloton stock is up 60% since the Coronavirus sent everyone into quarantine. Last week, the company reported its largest streamed class with more than 23,000 cyclers.
