Harris Blitzer Sports and Entertainment (HBSE), the ownership group of the NBA's Philadelphia 76ers and NHL's New Jersey Devils, announced Monday it is pledging $20 million over the next five years to combat systemic racism, according to Marc J. Spears of The Undefeated.

HSBE's company-wide plan includes a $10-million donation from the Sixers to the NBA and National Basketball Players Association's newly launched joint foundation. The foundation is intended to "drive economic empowerment for Black communities through employment and career advancement."

"Looking at things from my perspective as a Black man in America, as an executive for HBSE, I really wanted to have action and more than just words. And that is what really excites me about this," Sixers general manager Elton Brand told Spears. "They were not just allies. They were going to another level in terms of being part of actual change."

HSBE is also creating a program through which the Sixers and Devils will provide more than $5 million in marketing assets to Black-owned businesses.

"While we will never be able to correct the past harm and injustice faced by Black Americans, it's our duty to provide resources that enable tangible action and greater opportunities for equality," HBSE founder Josh Harris said in a statement, according to Kennedy Rose of the Philadelphia Business Journal.

"We are committing to a fundamental change in our business strategy by embedding our organization with Black communities and businesses through significant and sustained investment and support."

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