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he NBA has announced all 30 teams will each provide US$1 million per year for ten years, to provide an initial US$300 million contribution to the new ‘NBA Foundation’, supporting ‘greater economic empowerment’ in black communities.

The foundation was launched in partnership by the NBA’s board of governors and the NBA Players Association (NBPA) and hopes to support black communities through employment and career advancement by increasing access and support for high school, college-aged and career-ready black men, and women.

The foundation will aide national and local U.S. organisations in providing skills training, mentorship, coaching and pipeline development opportunities across NBA markets, working with the NBA’s marketing and media partners to develop funding sources and programming around the themes of racial equality and social justice.

NBA commissioner, Adam Silver, said the foundation is a step in the right direction to “creating substantial economic mobility within the black community”.

“We are dedicated to using the collective resources of the 30 teams, the players, and the league to drive meaningful economic opportunities for black Americans,” Silver said.

“We believe that through focused programmes in our team markets and nationally, together with clear and specific performance measures, we can advance our shared goals of creating substantial economic mobility within the black community,” he said.

NBPA president and Thunder star, Chris Paul, said the foundation was created in response to the Black Lives Matter movement.

“The creation of this foundation is an important step in developing more opportunities for the black community,” Paul said.

“I am proud of our league and our players for their commitment to this long-term fight for equality and justice, and I know we will continue to find ways to keep pushing for meaningful institutional change,” he said.