Plans to launch the first NBA foundation have been finalized by the NBA’s Board of Governors and the National Basketball Players Association. On Wednesday, they announced their commitment to contributing an initial amount of $300 million over the next ten years.
According to the announcement, every team in the league will donate $1 million annually over the next decade. They can also choose to donate $30 million collectively.
In order to better manage the new endeavor, the NBPA has decided to activate a Board of Directors. This board includes four representatives from the board of governors, three NBPA players and executives, and one league office member.
Earlier in the season restart, NBPA President Chris Paul said $300 million would be devoted to the start of the initiative. NBA Commissioner Adam Silver had also highlighted how the NBA had never formed a standalone foundation before. This is truly an empowering first for the league.
First NBA Foundation Founded
NBA Board of Governors Chairman and Toronto Raptors Governor Larry Tanenbaum said NBA team governors acknowledge the league’s powerful platform to enact change. With that said, they are committed to providing support to young Black men and women across the U.S. and Canada.
The NBA announced the foundation would be a public charity. Their mission is to commit and promote racial equality and social justice.
It is clear enacting change is part of their mission as they have continued to support the cause throughout the restart in the bubble. Games are being played with “Black Lives Matter” painted on the court, and the majority of players are wearing social justice messages on their jerseys.
Individuals in the NBA community have already expressed support for the NBA’s new initiative. Washington Wizards owner Ted Leonsis said he and the team fully endorse the NBA’s plan for their charitable foundation.
Leonsis pledged $1 million every year for the next decade to the NBA foundation. This money is meant to fund skills training, mentorship, coaching, and pipeline development to help aid the Black community in more ways than one.
Words Followed by Action
The NBA foundation’s goal is to economically empower Black communities by providing career advancement opportunities and employment. They are aiming to specifically aid high-school and college-aged individuals.
The NBA foundation will also be sponsoring organizations that focus on the job training and mentoring, specifically for Black individuals.
NBPA Executive Director Michele Roberts highlighted the unique resources and power that the NBA has in relaying a message and fighting for a cause. He claimed they have the opportunity to embrace justice and principles of equality that they have attempted to instill at the core of their organization.