L.A. Lakers returning $4.6 million in coronavirus loans

The Los Angeles Lakers are giving back $4.6 million in federal loan money, according to the team.

The Lakers confirmed they applied and received--$4.6 mil in loans under the Payroll Protection Program aimed to help small businesses affected by COVID-19.

CNBC confirmed Los Angeles was the only NBA team to apply for such a loan. According to Pro-Basketball Reference, the Lakers payroll is up to $125 million to operate and valued by Forbes at $4.4 billion.