NBA Commisioner Adam Silver

All 30 NBA team owners will provide a combined $300 million over the next decade for a fund called the NBA Foundation.

This new charitable initiative is dedicated to funding the greater economic empowerment in the black community.

All team owners will contribute $30 million every year to establish the NBA foundation, which is being launched by a partnership between the NBA’s board of governors and the National Basketball Players Association.

“We are dedicated to using the collective…

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