Western Notes: Lakers Loan, Bagley, Walton, Towns

The Lakers returned a $4.6MM loan they received from a federal government program intended to help small businesses during by the coronavirus pandemic, according to ESPN’s Kevin Arnovitz. The Lakers applied for relief through the Small Business Administration’s Paycheck Protection Program. When many small businesses were shut out of the program, the team opted to return the money.

“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 team said in a statement. “The Lakers remain completely committed to supporting both our employees and our community.”

We have more from the Western Conference:

  • Kings coach Luke Walton isn’t sure how much big man Marvin Bagley III will play if the season resumes, Jason Jones of The Athletic reports. Bagley has played in only 13 games this season due to a left foot sprain and a broken thumb. “In talking to Marvin, he feels much better,” said Walton, who added Bagley would still have to go through protocols during injury rehab, including three-on-three and five-on-five play.
  • Walton struck an optimistic tone regarding his club in the same story from Jones. “I love where we’re at as a group,” Walton said. “I think our future is bright, I think we have a great group of guys. This is a hard thing, winning consistently in any pro sport is hard. But when you get a good group of guys that works hard and likes each other and is willing to trust each other, I think, is how you make that happen.” Sacramento was 28-36 when play was halted but had won seven of its last 10 games.
  • The COVID-19 pandemic has taken a toll on the Timberwolves and it has brought organization members closer on an emotional level, Jon Krawczynski of The Athletic writes. Karl-Anthony Towns’ mother, Jacqueline, and a relative of Malik Beasley succumbed to complications from the virus. “We’ve done everything possible for our players and our staff and their families to make sure they’re as safe as possible,” president of basketball operations Gersson Rosas said. “Once it affects you the way it’s affected us now, we’re ultra-sensitive to the fact that we want to be here for our players and their families and our staff.”
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9 thoughts on “Western Notes: Lakers Loan, Bagley, Walton, Towns

  1. x%sure

    Well I could read up more about the standards used in the PPP program and why they ran out of money so quickly, but I’d like to retain my mellow mood.

    • The standards are:

      1. Are you a millionaire able to hide your money in various LLCs and non-profits?

      2. Do you know the right bankers / lawyers to get your application pushed through?

  2. jorge78

    Well that’s Trump helping his “small business buddies” through the usual loopholes.
    Hopefully they won’t inject bleach like he advises…..

  3. If the Lakers are so “committed,” why did they apply for a Small Business loan in the first place? I guess they saw some free money and just grabbed for it.

    • bill-bellamy

      The ability to apply was very misguided and didn’t pertain only to actual ‘small’ businesses.

  4. B-Minus21

    Lol my company (5 employees) didn’t receive funding bc Chase botched applications and then the funds were depleted. I think our request was in the neighborhood of $85-90k. Good to know the real small business are getting the help they need….

  5. El Don

    Respect for the Lakers for doing the right thing, they didn’t had to, neither did they do anything wrong, the fund is there you have the right to apply for it, the real issue/problem is who on earth would grant that help to a huge business like the Lakers?!?!?
    I mean is just ignorant to be mad at the Lakers for applying & then giving the money back! They really when above & beyond!

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