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- NBA teams to each provide US$1m annually over next ten years
- Foundation to support organisations offering skills training and mentorship in NBA cities
The 30 National Basketball Association (NBA) team owners will contribute an initial US$300 million over the next ten years to a new charitable foundation established to create ‘greater economic empowerment’ in the black community.
Each NBA team will provide US$1 million per year during that time to fund the NBA Foundation, which is being launched in partnership by the league’s board of governors and the National Basketball Players Association (NBPA).
The foundation aims to support black communities through employment and career advancement by increasing access and support for high school, college-aged and career-ready black men and women. It will also assist national and local organisations that provide skills training, mentorship, coaching and pipeline development in NBA markets.
In addition, the foundation will work with the NBA’s marketing and media partners to develop additional funding sources and programming around the themes of racial equality and social justice.
“We are dedicated to using the collective resources of the 30 teams, the players and the league to drive meaningful economic opportunities for black Americans,” said NBA commissioner Adam Silver. “We believe that through focused programmes in our team markets and nationally, together with clear and specific performance measures, we can advance our shared goals of creating substantial economic mobility within the black community.”
NBPA president Chris Paul added: “The creation of this foundation is an important step in developing more opportunities for the black community. I am proud of our league and our players for their commitment to this long-term fight for equality and justice, and I know we will continue to find ways to keep pushing for meaningful institutional change.”
The NBA is the latest North American major league to launch a new fund in response to the Black Lives Matter protests, which gathered momentum after the death of George Floyd at the hands of Minneapolis police in May.
The National Football League (NFL) announced in June that it will donate US$250 million in the next ten years to ‘combat systemic racism’ in the US and support the fight against the ‘ongoing and historic injustices faced by African-Americans’.
The 30 National Basketball Association (NBA) team owners will contribute an initial US$300 million over the next ten years to a new charitable foundation established to create ‘greater economic empowerment’ in the black community.
Each NBA team will provide US$1 million per year during that time to fund the NBA Foundation, which is being launched in partnership by the league’s board of governors and the National Basketball Players Association (NBPA).
The foundation aims to support black communities through employment and career advancement by increasing access and support for high school, college-aged and career-ready black men and women. It will also assist national and local organisations that provide skills training, mentorship, coaching and pipeline development in NBA markets.
In addition, the foundation will work with the NBA’s marketing and media partners to develop additional funding sources and programming around the themes of racial equality and social justice.
“We are dedicated to using the collective resources of the 30 teams, the players and the league to drive meaningful economic opportunities for black Americans,” said NBA commissioner Adam Silver. “We believe that through focused programmes in our team markets and nationally, together with clear and specific performance measures, we can advance our shared goals of creating substantial economic mobility within the black community.”
NBPA president Chris Paul added: “The creation of this foundation is an important step in developing more opportunities for the black community. I am proud of our league and our players for their commitment to this long-term fight for equality and justice, and I know we will continue to find ways to keep pushing for meaningful institutional change.”
The NBA is the latest North American major league to launch a new fund in response to the Black Lives Matter protests, which gathered momentum after the death of George Floyd at the hands of Minneapolis police in May.
The National Football League (NFL) announced in June that it will donate US$250 million in the next ten years to ‘combat systemic racism’ in the US and support the fight against the ‘ongoing and historic injustices faced by African-Americans’.
