The Los Angeles Lakers paid back and returned the money the team received in a stimulus package that Congress passed last month.
This comes after news of other large companies, who also secured loans, were returning the money in light of mom and pop businesses left without aid.
The team had applied for and received $4.6 million through the Payroll Protection Program that was designed to help small businesses during the COVID-19 pandemic.
According to a story first reported in ESPN, "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."
There was a $349 billion pool that was part of the Payroll Protection Program that helped out small businesses by letting them apply for and receive loans during the crisis. The loans were forgivable as long as 75 percent was spent on payroll and the company didn't fire anyone.
The program ran out of money after two weeks, according to the ESPN story.
The PPP was part of the $2 trillion stimulus package touted by Congress.
Last week Shake Shack returned the $10 million loan it received after backlash.