• Loading stock data...
Friday, April 4, 2025
Nominations Are Open for Front Office Sports Honors! Submit Now

Nets, NY Liberty Owners Commit $60 Million to Social Justice Causes

  • In addition to $10 million for the NBA Foundation, the Tsais are donating $50 million to other social justice causes.
  • They will encourage the continued use of the Plaza at Barclays Center for peaceful gatherings.
Nets, NY Liberty Owners Commit $60 Million to Social Justice Causes
Vincent Carchietta-USA TODAY Sports

Joe and Clara Wu Tsai — owners of the Brooklyn Nets, NY Liberty and the Barclays Center — are committing an additional $50 million to social justice causes on top of the Nets’ requisite $10 million donation to the NBA Foundation, they announced Aug. 25

As a whole, the NBA board of governors is committing $300 million to the foundation over the next decade. 

“The Plaza at Barclays Center in Brooklyn has become a gathering space for Black Lives Matter. We are proud of our players’ leadership in speaking out against racism and advocating for social justice,” they wrote in an announcement. “Racial injustice continues to be pervasive in society, and systemic imbalances must be addressed by the government, the private sector, and individuals.”

Joe Tsai, co-founder of Chinese tech giant Alibaba Group, is worth $13.4 billion, according to Forbes. He bought 49% of the Nets in 2018, then secured the remaining 51% in 2019. 

The Tsais presented a five-point plan to use their organizations’ influence to further social justice causes.

“As leaders of our organizations, we have a responsibility to build a culture of equity and inclusion, and to influence other leaders in business and cultural institutions — including the League and other teams’ leadership — to stand against racism,” the announcement says. 

The first point of the plan is the $50 million donation over 10 years for “social justice initiatives and community investments that will benefit the BIPOC (especially Black) community, with a priority on Brooklyn.” The money will be used to fund programs that are scalable and which “address systemic imbalances and root causes that produce racial gaps in education, health and wealth,” with an emphasis on mentorship of young people of color.  

The second point is “player voice.”

According to the announcement, the Tsais will provide team and venue assets, such as social media accounts and billboards, for athletes to speak out on the issues of racism they face. 

“We will also bring in experts from the academic, legal, media, and business communities to support the players’ continuing education and personal and professional growth,” the announcement says. 

The third point is creating an inclusive culture at BSE Global — Joe Tsai’s holding company — including recruiting, developing, retaining and promoting Black employees and employees of color, especially in leadership positions.

The fourth point is using league-wide influence in the NBA and WNBA to “create opportunities for dialogue in order to coalesce around shared values.” The Tsais said that they will initiate regular conversations among team owners and leadership to discuss progress on implementing “diversity and anti-racism programs.”

Finally, the Tsais say they will prioritize community engagement by leveraging the Barclays Center space.

“In partnership with law enforcement, we will encourage the Plaza at Barclays Center (corner of Flatbush and Atlantic) to continue to serve as a place for peaceful gatherings and for all constituents to listen to each other,” the announcement says. 

The Tsais and BSE Global are the latest in a string of NBA owners making donations in addition to those required for the newly-created NBA Foundation. 

On Aug. 17, Harris Blitzer Sports & Entertainment — which owns the Philadelphia 76ers and New Jersey Devils, among other entities — committed an extra $10 million directly to initiatives in communities its teams touch across the U.S. On Aug. 20, the Golden State Warriors announced an initial grant of $200,000, including $100,000 directly from head coach Steve Kerr, to two Bay Area organizations promoting educational equity — and noted that they have already contributed $22.5 million to the cause.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Ja Morant

Ja Morant Fined $75K for Defying NBA Warning on Finger Guns

Morant has served two suspensions in his career over brandishing firearms.
Paige

Paige Bueckers Stays Tight-Lipped About Pro Future

The UConn star’s WNBA future could be clearer in just 10 days.

Why Sports Leagues Are Betting Big on Streaming’s Reach

The NFL is going all-in on streaming for its Christmas Day games.
Flau'Jae Johnson

Flau’jae Johnson Picks College Over WNBA Draft

The LSU star and rapper will stay another year in school.

Featured Today

Mar 1, 2025; Gainesville, Florida, USA; Florida Gators guard Walter Clayton Jr. (1) and center Olivier Rioux (32) and guard Alijah Martin (15) and forward Thomas Haugh (10) huddle after the game against the Texas A&M Aggies at Exactech Arena at the Stephen C. O'Connell Center

How Florida Built a Final Four Roster With ‘Under-Recruited’ Players

“We’ve never gotten a single player because we’re the highest bidder.”
Dec 27, 2024; San Jose, California, USA; San Jose Sharks center Macklin Celebrini (71) skates during warm ups before their game against the Vegas Golden Knights at SAP Center at San Jose
April 3, 2025

Macklin Celebrini and the Sharks Rookies Have Brought Good Vibes to a..

The rookie’s arrival has boosted spirits incongruously high inside the flagging franchise.
Mar 26, 2025; Indianapolis, Indiana, USA; Los Angeles Lakers forward LeBron James (23) in the first half Indiana Pacers at Gainbridge Fieldhouse.
April 1, 2025

The Creator Behind the LeBron ‘Glazing’ Trend Sweeping TikTok

FOS spoke to TikTok user OkaySpade who made the original song.
Mar 22, 2025; Providence, RI, USA; McNeese State Cowboys manager Amir Khan before a second round men’s NCAA Tournament game against the Purdue Boilermakers at Amica Mutual Pavilion
April 1, 2025

Inside the 24-Hour NIL March Madness Deals

Some of the most viral partnerships come together overnight.

Junior Bridgeman Was the Prototype for Business Success After Sports

He started with Wendy’s franchises, later expanding into bottling, magazines, and more.
Oct 23, 2024; Miami, Florida, USA; Miami Heat president Pat Riley addresses the crowd during the Pat Riley Court dedication ceremony at halftime at Kaseya Center.
February 14, 2025

Here’s Where Pat Riley’s Three-Peat Trademark Money Goes

Riley has the phrase trademarked despite having no three-peat of his own.
Feb 12, 2023; Glendale, Arizona, US; A$AP Rocky on the sideline after halftime during Super Bowl LVII at State Farm Stadium.
February 27, 2025

A$AP Rocky Could Be Latest Celebrity Owner in English Soccer

Following his acquittal, the rapper is closer to owning Tranmere Rovers.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Dec 1, 2024; Landover, Maryland, USA; Washington Commanders general manager Adam Peters (L) talks with Commanders owner Josh Harris (R) on the field prior to the game against the Tennessee Titans at Northwest Stadium.
December 4, 2024

CEO Leaves $13 Billion Soup Company to Run Commanders

The new president will lead the planning and development of the team’s stadium.
LPGA Commissioner Mollie Marcoux Samaan after the final round of golf during the CME Group Tour Championship at the Tiburon Golf Club in Naples, Fla., Sunday, November 19, 2023.
December 2, 2024

LPGA Commissioner Leaving After Brief Up-and-Down Tenure

Mollie Marcoux Samaan was hired in 2021.
November 15, 2024

Adam Silver Defends NBA Product Amid Sluggish Ratings

Silver said the NBA compares itself to “the biggest brands in the world.”
November 11, 2024

Endeavor to Sell OpenBet, IMG Arena to Its CEO Ari Emanuel

The move is “a necessary step” as Endeavor seeks to go private.