NFL joins contract with Black America to bolster economic equality
The NFL spent and allocated more $125 million targeting black-owned businesses during the
last year, reinforcing its commitment to economic fairness
NEW YORK, June 30, 2022 /PRNewswire/ — The National Football League (NFL) today announced its partnership with Contract with Black America Institute (CWBA), an economic inclusion initiative led by an artist and entrepreneur O’Shea Jackson, also known as Ice Cube. The CWBA and NFL partnership reinforces the NFL’s commitment to increasing economic equity and partnerships with Black-owned businesses.
The collaboration focuses on identifying League-wide opportunities in finance, technology and manufacturing, with a focus on increasing direct and indirect spending to Black national businesses to help to closing America’s racial and economic wealth gap.
“For more than a year, the CWBA Institute has worked closely with the NFL to identify the resources needed to build stronger, more substantive economic partnerships with the Black community,” Ice Cube said. “Our team at CWBA, including my longtime business partner and entertainment attorney Jeff Kwatinetzand Councilors Ja’Ron Smith and Chris Pikerton, are focused on building partnerships with businesses with measurable economic growth results for Black communities across the country. We think it’s a giant step in the right direction.”
Driven by a strong internal commitment to diversifying NFL business partnerships with organizations like the CWBA, the League has spent and allocated $125 million with Black owned and operated businesses such as Ariel Investments, CityFirst/Broadway Bank, Cover Communications and Fearless Technology over the past year.
“City First Bank is delighted to have formed a strategic partnership with the National Football League and Contract With Black America,” said City First Bank President and CEO. Brian Argrett. “This partnership supports and accelerates each organization’s commitment to ensuring minority businesses have access to capital and opportunities to fuel their growth. Partnerships like this are critical to driving equitable economic change within the Black community. as well as to support the growth of City First Bank and other Black-led and owned financial institutions that deploy capital for economic growth and empowerment.”
“Our partnership with CWBA is another reminder that partnering with intentional organizations is critical to everything we do in the League,” the NFL commissioner said. Roger Goodel. “Black businesses play a major role in the economic prosperity of our country. We understand that these businesses haven’t always had the opportunity for exponential growth, so we’re thrilled to have partners like Ice Cube and its organization, CWBA, in an ongoing and collective push toward greater economic inclusion.
Building on its long-standing Business Connect program, which aims to provide minority, women, LGBTQ+ and veteran-owned businesses with Super Bowl & Draft opportunities, the NFL is looking to continue to grow and diversify its suppliers through strategic national partnerships.
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SOURCE Contract with Black America