*The NBA Board of Governors announced $300 million in funding to establish a foundation focused on creating economic empowerment in the Black community.
According to a press release, over the next 10 years, the 30 NBA team owners will collectively contribute $30 million annually to establish a new, league wide charitable foundation.
The NBA Foundation “will seek to increase access and support for high school, college-aged and career-ready Black men and women, and assist national and local organizations that provide skills training, mentorship, coaching and pipeline development in NBA markets and communities across the United States and Canada,” the press release reads.
“Given the resources and incredible platform of the NBA, we have the power to ideate, implement and support substantive policies that reflect the core principles of equality and justice we embrace,” said NBPA Executive Director Michele Roberts. “This Foundation will provide a framework for us to stay committed and accountable to these principles.”
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Here’s more from the press release:
The Foundation will focus on three critical employment transition points: obtaining a first job, securing employment following high school or college, and career advancement once employed. Through contributions, the NBA Foundation will enhance and grow the work of national and local organizations dedicated to education and employment, including through investment in youth employment and internship programs, STEM fields, job shadows and apprenticeships, development pathways outside of traditional higher education, career placement, professional mentorship, networking and specific partnerships with Historically Black Colleges and Universities.
The Foundation will work directly with all 30 teams, their affiliated charitable organizations and the NBPA to support national organizations and their local affiliates as well as local grassroots organizations to facilitate sustainable programming and create change in team markets.
“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 programs 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.”
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