Home Loans Penguins received nearly $5M in COVID loan money

Penguins received nearly $5M in COVID loan money

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A report from the New York Post has brought to light the fact that the Pittsburgh Penguins, who are valued at over $600 million, received nearly $5 million in funding through the Paycheck Protection Program as part of the CARES Act in 2020.

The New York Post report says that the Penguins are the only professional sports team to receive a loan under the program among 123 professional sports organizations in the “Big Four,” which includes the NHL, MLB, NFL, and NBA.

A search of public records on a COVID Bailout Tracker website shows that the Lemieux Group, LP, which owns and operates the Penguins, received a loan of $4.82 million through First National Bank.

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Linda Barbara

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