NBA Pledges $300M to Economic Empowerment in Black Community

The NBA’s Board of Governors will dedicate $300 million to its new NBA Foundation focused on “creating greater economic empowerment in the Black community.”

What we know:

  • The NBA owners will spread the $300 million commitment over ten years, donating $30 million a year to the NBA Foundation. The foundation will support high school, college, and career-ready Black men and women. Their focus will be on three employment transition points: getting the first job, securing a job after high school or college, and long-term career advancement. The foundation will also partner with organizations that “provide skills training, mentorship, coaching and pipeline development in NBA markets and communities.”
  • “The creation of this foundation is an important step in developing more opportunities for the Black community,” said Players Association President Chris Paul. LeBron James also reacted to the foundation by saying, “I think it’s pretty great. Three hundred million over the next ten years. The NBA and NBPA have always supported the black community. It means a lot.”
  • NBA Commissioner Adam Silver said that this would be a one-of-a-kind program for the league. “We, of course, had NBA Cares and many fantastic programs, but this would be an independent organization, and details to come, but working directly with the players on how the board would be formed, how their voices would be heard, how potentially maybe some independent voices from outside the league that would help drive change with us.”

The NBA Foundation will also partner with HBCUs and invest in internships, apprenticeships, and “development pathways outside of traditional higher education.”