NBA Promises $300 Million Towards New Foundation to Help Black Community

by Mary Rose Corkery

The National Basketball League Board of Governors announced plans Thursday to give $300 million over the next decade towards a new foundation supporting economic opportunities for black communities.

The NBA will donate $30 million each year for the next ten years towards the NBA Foundation, according to an NBA press release. The 30 NBA teams will each donate $1 million every year to the fund, NBC News reported.

In solidarity with the Black Lives Matter movement and to address racial inequality, many NBA players have begun kneeling for the National Anthem before games, including LeBron James, according to a Bleacher Report Twitter post. Orlando Magic Player Jonathon Issac faced criticism for standing during the anthem at an August game, but said he supports Black Lives Matter.

The NBA Foundation will assist people with job opportunities, such as getting a job after high school and college, the press release said. The organization will partner “with Historically Black Colleges and Universities” and help people secure career opportunities and internships.

The newly-formed NBA Foundation will also collaborate “with marketing and media partners” to further “racial equality and social justice,” the press release said.

The NBA Board of Governors will contribute $300 million in initial funding ($30M per year for next 10 years) to establish the first-ever NBA Foundation dedicated to creating greater economic empowerment in the Black community, in partnership with the NBPA.

— Shams Charania (@ShamsCharania) August 5, 2020

“All NBA team governors recognize our unique position to effect change and we are committed to supporting and empowering young Black men and women in each of our team markets as well as communities across the U.S. and Canada,” NBA Board of Governors Chairman and Toronto Raptors Governor Larry Tanenbaum said in the press release.

The foundation’s board will have eight seats and all 30 teams in the NBA will be members of the organization, according to the press release. The board will provide direction on programming and grants, the press release said.

The NBA did not immediately respond to the Daily Caller News Foundation’s email request for comment.

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Mary Rose Corkery is a reporter for the Daily Caller News Foundation.

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