The NBA Board of Governors announced on this, the 55th anniversary of the Voting Rights Act, an unprecedented $300 million commitment for the newly created NBA Foundation “dedicated to creating greater economic empowerment in the Black community.” NBA officials say they will collect a combined total of $300 million from every NBA owner and put those funds into action to improve economic, educational and social conditions in Black communities around the nation over the next 10 years. The fund is an initiative of the newly launched NBA Foundation.
“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,” NBA Commissioner Adam Silver said in a statement. “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.”
“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,” according to a recent news release.
“We got a special league of players as well as the executive committee,” Oklahoma City guard and NBPA president Chris Paul said. “Over the course of this time, obviously there has been much discussion about the jerseys and Black Lives Matter on the court. I think getting that money allocated to the foundation and the fund, and for players to have a say on where that money is going is huge. It was one of the biggest reasons guys said we could come down here to play and do both. We’re excited about the work ahead. It’s a good day as far as that goes.”