Major League Baseball To Spend Up to $150 Million To Increase Black Representation

Kimberly Redmond  |

Major League Baseball (MLB) plans to commit at least $100 million — and up to $150 million —  over the next decade to help increase the number of Black players, managers, coaches and team executives. 

Starting in 2023, MLB will provide $10 million annually, along with an additional $5 million to match fundraising efforts from the Players Alliance, a nonprofit made up of 143 active and former major leaguers. 
 
The Alliance, led by Curtis Granderson, CC Sabathia and Edwin Jackson, has already donated over $41 million to Black communities since its inception in June 2020 as part of its mission to create a more inclusive culture in the sport. 

MLB commissioner Rob Manfred revealed the partnership during a news conference Monday at Coors Field in Denver, site of the 91st All-Star Game, saying it would be the organization’s largest charitable donation to date.

Last September, MLB partnered with the MLB Players Association to pledge $10 million to help the Players Alliance with its outreach efforts.

According to Manfred, the new commitment would support “a pretty broad array” of collaborative programs, such as camps, clinics, showcases, scholarships, meal distribution in low-income communities, equipment and job skills training. 

“First of all, we all wanted to see more young people of color playing our game. We want young people period playing the game, but particularly young people of color. Secondly, we all know that we need more diversity in our game. Not just on the field, but everywhere — front offices, Commissioner's Office, everywhere. Those two goals continue to bring these two groups together,” said Manfred.

Granderson, president of the Players Alliance, called it “a big step moving forward.”

“This is going to [enable] us to continue to keep doing all the things that we said we're going to do, that we've already been doing. And we are hopefully going to continue to do more things as we build from this moment on,” he said.

Bleacher Report noted that Manfred’s announcement on Monday follows similar moves by the National Football League (NFL) and National Basketball Association (NBA). 

Last year, the NFL made a 10-year, $250 million, commitment to the Players Coalition, and the NBA Board of Governors gave $300 million to help launch the NBA Foundation.

_____

Source: Equities News

Market Movers

Sponsored Financial Content