National Basketball Association team owners will contribute a total of US $300 million over the next 10 years to a charitable foundation aimed at accelerating economic growth in the Black community.
Each of the NBA’s 30 teams will provide $1 million annually during that time to fund the NBA Foundation, which is being launched by the league’s board of governors and the players’ union.
The foundation aims to drive economic empowerment for Black communities through employment and career advancement, increasing access and support for high school, college-age and career-ready Black men and women.
It will also work toward deepening the NBA’s commitment to racial equality and social justice, movements that have gathered momentum after the death of George Floyd, an unarmed Black man killed in police custody in May.
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