NASCAR teams receive Payroll Protection Program funds

Newly released information from the U.S. Small Business Administration about its Payroll Protection Program offers a more detailed look at the help received by sports teams and related businesses in the Charlotte area, among other industries and Chip Ganassi Racing (it’s why Chip is smiling above) reaped the largest payout among NASCAR teams.

Some of the largest sports-related loans in North Carolina include $8.9 million to Pinehurst Resorts, home of the 2024 men’s U.S. Open golf tournament, and $6.4 million to Durham-based sports media and technology company SMT.

Minor-league clubs, NASCAR teams and marketing agencies were among the Charlotte-area sports businesses that received PPP money.

In NASCAR, examples include Richard Childress Racing. The team is headquartered near the Triad and landed a loan for $6.3 million.

Almost all of the other motorsports teams are located in the Charlotte region.

Teams, with loan amounts in parentheses, include Chip Ganassi Racing ($3.96 million); Roush Fenway Racing ($3.5 million); team supplier Roush Yates Engines ($3.2 million); Dale Earnhardt Jr.’s JR Motorsports ($1.3 million); Kyle Busch Motorsports ($931,983); and Richard Petty Motorsports ($747,079). Richard Petty’s team is located in Lexington, the others are in Concord and Mooresville.