NEW YORK – The NBA Board of Governors announced today that it will contribute $300 million in initial funding to establish the first-ever NBA Foundation dedicated to creating greater economic empowerment in the Black community. The Foundation is being launched in partnership with the National Basketball Players Association.
Over the next 10 years, the 30 NBA team owners will collectively contribute $30 million annually to establish a new, leaguewide charitable foundation. Through its mission to drive economic empowerment for Black communities through employment and career advancement, 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.