NASCAR and IndyCar teams were approved for PPP loans/grants

Every IndyCar team except Team Penske got Trump government help to keep their doors open

Boxing promotions run by Floyd Mayweather, Bob Arum and Oscar De La Hoya and teams in MLS, NASCAR and IndyCar were among a cavalcade of sports organizations that navigated a federal loan program designed to help small firms cope with the economic impact of the coronavirus pandemic.

Data released Monday showed hundreds of thousands of Paycheck Protection Program (PPP) recipients across a wide range of industries, and sports-related businesses were well represented.

The data provided Monday showed that a bulk of both NASCAR and IndyCar teams were approved for substantial loans (which are forgiven if they keep their people employed). It is not clear which teams accepted the funds, but the list showed numerous teams that were approved for loans. The data for NASCAR showed that championship-winning teams Roush Fenway Racing — co-owned by billionaire John Henry — and Richard Childress Racing were approved, as were Richard Petty Motorsports, Jimmie Johnson Racing, Kyle Busch Motorsports and Jeff Gordon Inc.

In IndyCar, nearly every full-time team was approved for a loan. The list did not include Team Penske, which likely was considered too large an organization to qualify.

The loans went beyond race teams. Pocono Raceway in Pennsylvania was approved for a loan between $350,000 and $1 million. ESPN