• Loading stock data...
Monday, October 6, 2025

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

Sep 29, 2024; Brooklyn, New York, USA; Las Vegas Aces center A'ja Wilson (22) dribbles the ball against New York Liberty forward Jonquel Jones (35) during game one of the 2024 WNBA Semi-finals at Barclays Center.

A’ja Wilson’s Star Continues to Rise With Release of Nike Shoe

Shoe deals have picked up alongside growing popularity of the WNBA.
Jun 12, 2024; Dallas, Texas, USA; NBA TV analyst Charles Barkley talks on set before game three of the 2024 NBA Finals between the Boston Celtics and the Dallas Mavericks at American Airlines Center.

Charles Barkley Will Deny NBC, Amazon Offers to Stick With Turner

Barkley has repeatedly flip-flopped in his career plans in recent years.

Lurie Not Interested in Celtics; Considering Eagles Stadium Options

The Eagles owner has been reported as a potential Celtics bidder.
Jan 27, 2025; Dallas, Texas, USA; Washington Wizards forward Richaun Holmes (22) and Dallas Mavericks forward Markieff Morris (88) and guard Quentin Grimes (5) chase the loose ball during the second half at the American Airlines Center.

Investor Says He Sold Stake in Warriors Because Competition Is Coming for..

Chamath Palihapitiya owned 10% of the Warriors from 2010 to 2022.

Featured Today

‘Ultimate Throwback’: The Unimpeachable Cool of Hartford Whalers Gear

Nostalgia and street cred have driven a consistent frenzy for merch.
January 20, 2024; Santa Clara, CA, USA; Kristin Juszczyk, wife of San Francisco 49ers fullback Kyle Juszczyk (44), before a 2024 NFC divisional round game against the Green Bay Packers at Levi's Stadium.
February 1, 2025

The New WAGs: Sports Wives Building Business Empires

Athletes’ wives and girlfriends are bucking stereotypes and cashing in.
Feb 3, 2019; Berkeley, CA, USA; California Golden Bears mascot dances on the court during a stoppage in play in the second half against the Stanford Cardinal at Haas Pavilion.
January 31, 2025

The Toll of Bicoastal Travel on New ACC Members Cal and Stanford

Cal and Stanford face missed flights, chaotic sleep schedules, and academic demands.
January 28, 2025

It’s Starting to Pay to Be Good at Cornhole

American Cornhole League players made $7.7 million in 2024.
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.

CEO Leaves $13 Billion Soup Company to Run Commanders

The new president will lead the planning and development of the team’s stadium.
November 15, 2024

Adam Silver Defends NBA Product Amid Sluggish Ratings

Silver said the NBA compares itself to “the biggest brands in the world.”
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.
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.
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.
May 22, 2024; Minneapolis, Minnesota, USA; Minnesota Timberwolves minority owners Marc Lore and Alex Rodriguez look on in the second half against the Dallas Mavericks during game one of the western conference finals for the 2024 NBA playoffs at Target Center.
October 23, 2024

A-Rod, Lore Deposit $940M As Wolves Ownership Hearing Nears

Rodriguez and Lore made a large escrow deposit in advance of a key upcoming arbitration hearing.
October 22, 2024

Dude Perfect CEO’s Task: Make the Dudes a Media Company

Dude Perfect’s new CEO wants fans to be able to experience the brand in person.
Feb 13, 2023; Beverly Hills, CA, USA; Disney CEO Bob Iger arrives at the 95th Oscars nominees luncheon at the Beverly Hilton in Beverly Hills, Calif. on Monday, Feb. 13, 2023.
October 21, 2024

Bob Iger’s Successor Won’t Be Named Until 2026

Iger’s current contract expires at the end of 2026.