NBA owners to pool in $300 million across next 10 years for Black Lives Matter movement

NBA team owners will contribute a total sum of $300 million over next 10 years to establish first-ever NBA Foundation dedicated to generating ecomic empowerment in black community. league anunced Wednesday that each of NBA's 30 teams will be donating $1 million annually during time frame to fund league's foundation, which has been launched in partnership with National Basketball Players' Association (NBPA).

30 teams will be members of NBA foundation. eight of Board of Directors for foundation will comprise of representatives from NBA Board of Goverrs (four seats), players and executives from NBPA (three seats) and league office (one seat).

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NBA pledges $300 million to boost empowerment of Black communities

NBA foundation will look to empower black community in United States by providing support for "high school, college-d and career-ready black men and women." In addition, foundation will aim to assist organisation across nations that provide skills training, mentorship and coaching to such communities. Amid ongoing global Black Lives Matter movement, league believes foundation can work with marketing and media partners to develop programmes that will foster NBA's commitment to eradicate racial injustice. 

According to league's statement, foundation will focus on three critical employment transition points - Obtaining first job, securing employment following high school or college and career advancement once employed. 

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" creation of this foundation is an important step in developing more opportunities for Black community," said OKC Thunder's Chris Paul, who serves as President of NBPA. "I am proud of our league and our players for ir commitment to this long-term fight for equality and justice and I kw we will continue to find ways to keep pushing for meaningful institutional change."

NBA players have been extremely vocal in showing support for Black Lives Matter that kicked off in aftermath of death of George Floyd in Minneapolis. Since NBA season resumed in Orlando, players have shown ir solidarity with antiracism movement by wearing med t-shirts and kneeling during national anm. 

NBA commissioner Adam Silver in statement issued that league is confident that foundation and its community-centric programs can help league to advance goals of "creating substantial ecomic mobility within Black community."

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(Im Credits: NBA Official Website)