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Payton II said he wants to see the SBA expand into an NBA-style league with multiple venues around the country, training facilities and an annual draft combine. "Skaters put more of their body on the line than athletes in most sports other than football," he said. "Why don't they get the same treatment as NBA players when they're taking more risks than we are?"
Marc J Spears: Warriors free agent guard Gary Payton II is a co-owner and investor in The Skate Board Association. The SBA will announce the launch of the world’s first co-ed, equal-pay professional skateboarding league on Monday in Big Bear.
The letters the Congressmen sent challenge the leagues to defend the antitrust protection they are afforded by the Sports Broadcasting Act, or SBA, passed by Congress in 1961 — something different from an oft-referenced exemption unique to baseball, which stems from a 1922 Supreme Court decision.
Citing concerns that minority-owned businesses are being overlooked, Earvin “Magic” Johnson said his EquiTrust Life Insurance Co. will provide $100 million in capital to fund loans through the Small Business Administration’s Paycheck Protection Program.
Former NBA all-star Magic Johnson told the Wall Street Journal that his life insurance company will provide $100 million in funding for small women and minority owned businesses as part of the Small Business Administration’s embattled Paycheck Protection Program.
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Darren Rovell: Confirmed that the Los Angeles Lakers were the only NBA team to ask for a Paycheck Protection Plan loan from the Small Business Administration. They received $4.6M and, as first reported by @Kevin Arnovitz.
The Los Angeles Lakers have returned approximately $4.6 million that they received from a federal government program intended to help small businesses weather the economic burden caused by the coronavirus pandemic, the team said in a statement to ESPN on Monday. The Lakers, one of the NBA's most profitable franchises, applied for relief through the Small Business Administration's Paycheck Protection Program, and were among the companies and nonprofits granted loans during the first round of distributions. But after reports that several large or highly capitalized entities were securing aid from the program's initial $349 billion pool -- while hundreds of thousands of smaller businesses were shut out -- the Lakers said they returned the money. "The Lakers qualified for and received a loan under the Payroll Protection Program," the Lakers said in a statement to ESPN. "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."
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