NBA announces second round of grants to Black groups

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NBA announces second round of grants to Black groups

An empty court and bench is shown in Game Five of the Eastern Conference First Round between the Orlando Magic and the Milwaukee Bucks during the NBA Playoffs at ESPN Wide World Of Sports Complex at Lake Buena Vista, Florida on August 26, 2020.

The Black Community announced another set of grants to the National Basketball Association on Monday as it continues to help drive economic opportunities in the Black Community.

As part of its$ 300 million commitment to help underserved areas, the league selected nine organizations, including the city-based New Heights Youth, New York City Year, Road to Hire, Big Brothers Big Sisters of Miami and Memphis-based CodeCrew.

In this round of grants will be distributed over$ 3 million. The NBA said the money would support firms in creating employment and help in career advancement among Black people.

The grants will strengthen and build upon the important work of these national and local organizations that align with the mission of the NBA Foundation to provide skills training, mentorship, coaching and pipeline development for high school, college-aged individuals in black communities across the United States and Canada, said the league in a release.

The NBA and its players' union collaborated last year to create the NBA Foundation, which promises to help Black people over the next 10 years. All 30 NBA clubs will commit$ 30 million annually over the next decade, as the league wants to improve economic and income inequality.

The NBA Foundation's mission to drive economic empowerment for Black communities through employment and career advancement is critical to future generations' mobility and prosperity, Greg Taylor, NBA Foundation executive director told CNBC via email. We are excited to continue our work and honor our first round of grant recipients who are making a positive impact in their communities and individual lives.

In 2020, the pro sports leagues boosted their interest in helping Black communities after high-profile killings of police made headlines including George Floyd's death. For his role in Floyd's killing in Minnesota, Derek Chauvin has currently been convicted for his role in the killing of Derek Chauvin in May.

The NBA made its first installment of grants last December to help with education and employment opportunities. In order to receive the funds, organizations such as the Marcus Graham Project, Operation DREAM and Management Leadership for Tomorrow were selected.

Jahm Najafi also added a$ 10 million donation to the Phoenix Suns Co-Owner last month. The money is in addition to the$ 10 million pledged by the Suns. Najafi is CEO of the Arizona-based venture capital firm Najafi Companies.

Correction: The headline of this story has been updated to reflect this is the second grant distribution from NBA.

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