On Monday the U.S. Small Business Administration posted a list of PPP recipients on the U.S. Treasury’s website. Among the names on the list were several NASCAR teams and how much each of those teams requested along with the number of employees they retained.
NASCAR’s biggest teams weren’t on the list. Hendrick Motorsports, Joe Gibbs Racing, Team Penske, and Stewart-Haas Racing appear to have passed on requesting PPP. NASCAR’s mid-pack teams however did request PPP, one in particular requested far more than anyone else.
Richard Childress Racing requested $5-10M, somewhere between 2-5 times the next highest team. RCR lists 334 jobs being retained, that encompasses the massive engine department, two Cup teams, and one Xfinity team.
Take a look at which teams received funds;
* Richard Childress Racing ($5-$10 million, 334 jobs)
* Chip Ganassi Racing with Felix Sabates ($2-5 million, 179 jobs)
* Roush Fenway Racing ($2-5 million, 179 jobs)
* Roush & Yates Racing Engines ($2-5 million, 192 jobs)
* JTG Daugherty Racing ($1-2 million, 88 jobs)
* GMS Racing ($1-$2 million, 89 jobs)
* Kyle Busch Motorsports ($1-$2 million, 71 jobs)
* JR Motorsports ($1-$2 million, 88 jobs)
* Germain Racing ($350,000-$1 million, 41 jobs)
* Richard Petty Motorsports ($350,000-$1 million, 43 jobs)
* Dale Earnhardt Inc. ($350,000-$1 million, 55 jobs)
* DGR-Crosley ($350,000-$1 million, 67 jobs)
* Premium Motorsports ($350,000-$1 million, 46 jobs)
* Pocono International Raceway ($350,000-$1 million, 142 jobs)
* Hattori Racing ($150,000-$350,000, 16 jobs)
* Jimmie Johnson Racing ($150,00-$350,000, 8 jobs)
* Motor Racing Outreach ($150,000-$350,000, 9 jobs)
* Rev Racing ($150,000-$350,000, 12 jobs)
* Starcom Racing ($150,000-$350,000, 20 jobs)
* Kaulig Racing ($350,000-$1 million, 36 jobs)
* Mesa Marin Raceway ($150,000-$350,000, 16 jobs)
* Bill McAnally Racing ($150,000-$350,000, 19 jobs)
* Young’s Motorsports ($150,000-$350,000, 0 jobs)
* JD Motorsports ($150,000-$350,000, 0 jobs)
So RCR, Let’s Talk About That
Richard Childress has made his political allegiance known in recent years. From campaigning for Donald Trump to supporting the President’s crusade against flag kneelers, to serving on the NRA Board. Richard is a Trump guy and that’s fine. Vote for whoever you want.
So when it came to applying for PPP, why did Childress need $5-8M more than the next closest team Chip Ganassi Racing?
Let’s avoid favoritism for a second and look at this from a sponsorship standpoint. Many teams were able to get advances on their sponsorship payments to hold them over during the downtime. RCR likely wasn’t able to do that. On top of that Tyler Reddick and Anthony Alfredo bring money to the team, if they’re not racing, their checks aren’t being deposited. RCR also has 100+ more employees than the next closest team.
Without money coming in, Richard needed to meet payroll. Unlike Hendrick, Penske, and Haas, Childress doesn’t have the business empire that his peers have.
On the other hand could this have been a case of supporting those who support you?
Did RCR receive exponentially more funding than their peers in part because of Richard’s outward public support of the President?
A number of sitting Republicans received PPP for their personal businesses. It’s easy to argue that Childress was given some preferential treatment. When you’re talking about this administration preferential treatment isn’t a foreign concept, it should be expected.
PPP loans are supposed to be paid back, however recipients can ask for loan forgiveness. It will be interesting to see how that process plays out.
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