Boxing Promotors Get PPP Loans

Discussion in 'Boxing News and Discussion' started by Michael Matos, Jul 8, 2020.

  1. Michael Matos

    Michael Matos Member

    Top Rank, Mayweather Promotions and Golden Boy applied for and received PPP loans in the Coronavirus relief bill passed two months ago. The loans were between 350,000 and $1,000,000 and all three were applying to compensate for lost shows. The loans do not have to be repaid if the money is used for payroll, rent and other essential expenses. I have a problem with that, the alleged purpose of the relief bill was to help small businesses. If you have a customer base in the millions you're not a small business. Congress' definition of a small business is a business with 500 or less employees so I don't think either of those promoters have 500 employees so they qualify on a technicality.
     
    El Profesor likes this.

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