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NASCAR teams receive Payroll Protection Program funds

Newly released information from the U.S. Small Business Administration about its Payroll Protection Program offers a more detailed look at the help received by sports teams and related businesses in the Charlotte area, among other industries.

Some of the largest sports-related loans in North Carolina include $8.9 million to Pinehurst Resorts, home of the 2024 men’s U.S. Open golf tournament, and $6.4 million to Durham-based sports media and technology company SMT.

Minor-league clubs, NASCAR teams and marketing agencies were among the Charlotte-area sports businesses that received PPP money.

In NASCAR, examples include Richard Childress Racing. The team is headquartered near the Triad and landed a loan for $6.3 million.

Almost all of the other motorsports teams are located in the Charlotte region.

Teams, with loan amounts in parentheses, include Chip Ganassi Racing ($3.96 million); Roush Fenway Racing ($3.5 million); team supplier Roush Yates Engines ($3.2 million); Dale Earnhardt Jr.’s JR Motorsports ($1.3 million); Kyle Busch Motorsports ($931,983); and Richard Petty Motorsports ($747,079). Richard Petty’s team is located in Lexington, the others are in Concord and Mooresville.

See much more at Charlotte Business Journal.