NBA owners to contribute $300M toward 'economic empowerment in the Black community'

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The NBA is creating a foundation aimed at “creating greater economic empowerment in the Black community.” NBA owners will contribute $300 million over the next 10 years to establish the new foundation, the league announced Wednesday.

The foundation is focused on helping high school, college-aged and career-ready Black men and women obtain their first job, secure employment following high school or college and advance in those careers.

The new foundation will also provide “skills training, mentorship, coaching and pipeline development in NBA markets and communities across the United States and Canada.”

NBA partnered with NPBA on new foundation

The foundation, which was launched in partnership with the NBPA is committed to “helping create a more equal and just society for all.”

NBPA president Chris Paul said he was proud that the league and its players continue to “fight for equality and justice.”

“The creation of this foundation is an important step in developing more opportunities for the Black community,” said NBPA President Chris Paul. “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."

LeBron James also had praise for the move, saying it “means a lot.”

NBA owners will give $300M to establish foundation

Over the next 10 years, NBA owners will collectively give $30 million a year to establish the foundation. At the end of that period, $300 million will have been put toward the foundation. The NBA said that will be the “initial funding” to start up the foundation.

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