I did a search and didn't see this posted. Please let me know if someone posted this already.
If not, how does he compare to Jay Z.
www.forbes.com
Ice Cube Lands $100 Million NFL Pledge For Contract With Black America
Ice Cube told Forbes Nike also appears “receptive” about partnering with his Contract with Black America plan. GETTY IMAGES
The NFL is partnering with entertainer Ice Cube’s pact to aid Black-owned businesses and combat the growing wealth gap in America.
The league said it committed over $100 million to causes that assist Contract With Black America Institute, or CWBA, an initiative Cube launched with long-time media executive Jeff Kwatinetz during the 2020 presidential campaign. It calls for the NFL to steer more business to Black companies in various sectors, including consumer services and technology.
In a statement announcing the partnership, the NFL said it would concentrate on “increasing direct and indirect spend to national Black businesses to help close America’s racial and economic wealth gap.”
The contract’s “Sports Industry Economic Development Plan” requests that sports leagues and teams hire exclusively Black companies for food vendors in stadiums, including more Black manufacturers, production companies, and marketing and advertising agencies in league operations.
Jackson says he wants to add other sports leagues, including MLB and MLS, and says he has reached out to the NBA but hasn’t yet received a response. More than 73% of players in the NBA are black compared to 58% in the NFL, according to The Institute for Diversity and Ethics in Sport.
“The NBA should be doing this without a doubt,” says Jackson. “They should not be ignoring us when it comes to this.”
The league didn’t return a Forbes request for comment to discuss the matter.
In March, Cube, whose birth is name O’Shea Jackson, added to CWBA’s terms to include a sports business plan. The 41-page document calls for professional leagues and college programs to enhance its pipeline of vendors and includes Black women-owned businesses. In a telephone interview with Forbes, Jackson called CWBA an “examination of the problems” surrounding the racial wealth gap, which he called it “one of our biggest issues in this country.”
The project was launched with a fanfare of controversy after Jackson met with then President Donald Trump, who pledged at the time to support CWBA. Jackson told Forbes that discussions with the league started last year, adding the NFL distributed funds to Black companies that include firms that would provide capital to Black businesses for growth. CityFirst/Broadway Bank, a Black-led bank with offices in California and Washington, D.C. and Chicago-based Ariel Investments received a portion of the funds. Ariel’s co-Chief Executive is Mellody Hobson, who became part-owner of the Denver Broncos in June.
The racial wealth gap has widened over the last 30 years, says research group Brookings Institution. Among median and mean family wealth, white families outpace Black families by more than $100,000, according to data published in a September 2020 Federal Reserve report.
“This is how we decided to attack the wealth gap by going after big companies like the NFL,” Jackson says.
Kwatinetz, who is a co-founder in media company BIG 3 with Jackson, told Forbes the group is aiming for Black businesses to obtain 25% of annual contracts for top NFL events like the Super Bowl. Qualified companies will be vetted and connected with the league to bid on agreements. Jackson said CWBA doesn’t collect fees or make revenue from arranging the partnerships.
“What we’re trying to do is inject Black businesses up and down the chain from technology to construction to maintenance,” Jackson says. “Our job is to find qualified companies, connect them to the NFL, and solidify a relationship. And then, make sure the relationship is working on both sides.”
In a statement, NFL Commissioner Roger Goodell called partnering with CWBA “critical.” He said Black businesses are vital to “our country’s economic prosperity,” and added companies “have not always had the opportunity for exponential growth.”
Jackson initially launched CWBA in August 2020 via a video on social media and after he faced backlash for meeting with Trump, which he dismisses as a “political thing.” He downplayed the narrative he supported the former president during his re-election campaign and said he’s met with both democrats and republicans about the plan.
“Our mission was always to talk to the public sector and try to get things done,” Jackson says. “We were going to spend our time going after the private sector and these businesses who make a lot of money off Black folks.”
The NFL’s partnership with CWBA comes as the league faces backlash about its approach to diversity. The NFL persists with its struggles to broaden the makeup of leadership, including at the head coaching level. In February, Pittsburgh Steelers assistant head coach Brian Flores filed a class-action lawsuit against the NFL and its 32 clubs, alleging racial discrimination in its hiring practices. And since Flores’ filing, the NFL changed its guidelines to require clubs to employ a woman or minority as an offensive coach starting in the 2022 season.
“This is how we decided to attack the wealth gap by going after big companies like the NFL.”
Ice Cube
Asked about the NFL’s long-term commitment to CWBA and if the league is using the initiative to repair its image, Jackson said the financial help isn’t a “one-time thing.” He added CWBA would add personnel to track partnerships with the NFL.
“They are helping,” Jackson says, “and no checks have bounced yet.”
If not, how does he compare to Jay Z.
Ice Cube Lands $100 Million NFL Pledge For Contract With Black America
The league said it committed over $100 million to causes that assist Contract With Black America Institute, or CWBA, an initiative Cube stated in 2020.
www.forbes.com
Ice Cube Lands $100 Million NFL Pledge For Contract With Black America
Ice Cube told Forbes Nike also appears “receptive” about partnering with his Contract with Black America plan. GETTY IMAGES
The NFL is partnering with entertainer Ice Cube’s pact to aid Black-owned businesses and combat the growing wealth gap in America.
The league said it committed over $100 million to causes that assist Contract With Black America Institute, or CWBA, an initiative Cube launched with long-time media executive Jeff Kwatinetz during the 2020 presidential campaign. It calls for the NFL to steer more business to Black companies in various sectors, including consumer services and technology.
In a statement announcing the partnership, the NFL said it would concentrate on “increasing direct and indirect spend to national Black businesses to help close America’s racial and economic wealth gap.”
The contract’s “Sports Industry Economic Development Plan” requests that sports leagues and teams hire exclusively Black companies for food vendors in stadiums, including more Black manufacturers, production companies, and marketing and advertising agencies in league operations.
Jackson says he wants to add other sports leagues, including MLB and MLS, and says he has reached out to the NBA but hasn’t yet received a response. More than 73% of players in the NBA are black compared to 58% in the NFL, according to The Institute for Diversity and Ethics in Sport.
“The NBA should be doing this without a doubt,” says Jackson. “They should not be ignoring us when it comes to this.”
The league didn’t return a Forbes request for comment to discuss the matter.
In March, Cube, whose birth is name O’Shea Jackson, added to CWBA’s terms to include a sports business plan. The 41-page document calls for professional leagues and college programs to enhance its pipeline of vendors and includes Black women-owned businesses. In a telephone interview with Forbes, Jackson called CWBA an “examination of the problems” surrounding the racial wealth gap, which he called it “one of our biggest issues in this country.”
The project was launched with a fanfare of controversy after Jackson met with then President Donald Trump, who pledged at the time to support CWBA. Jackson told Forbes that discussions with the league started last year, adding the NFL distributed funds to Black companies that include firms that would provide capital to Black businesses for growth. CityFirst/Broadway Bank, a Black-led bank with offices in California and Washington, D.C. and Chicago-based Ariel Investments received a portion of the funds. Ariel’s co-Chief Executive is Mellody Hobson, who became part-owner of the Denver Broncos in June.
The racial wealth gap has widened over the last 30 years, says research group Brookings Institution. Among median and mean family wealth, white families outpace Black families by more than $100,000, according to data published in a September 2020 Federal Reserve report.
“This is how we decided to attack the wealth gap by going after big companies like the NFL,” Jackson says.
Kwatinetz, who is a co-founder in media company BIG 3 with Jackson, told Forbes the group is aiming for Black businesses to obtain 25% of annual contracts for top NFL events like the Super Bowl. Qualified companies will be vetted and connected with the league to bid on agreements. Jackson said CWBA doesn’t collect fees or make revenue from arranging the partnerships.
“What we’re trying to do is inject Black businesses up and down the chain from technology to construction to maintenance,” Jackson says. “Our job is to find qualified companies, connect them to the NFL, and solidify a relationship. And then, make sure the relationship is working on both sides.”
In a statement, NFL Commissioner Roger Goodell called partnering with CWBA “critical.” He said Black businesses are vital to “our country’s economic prosperity,” and added companies “have not always had the opportunity for exponential growth.”
Jackson initially launched CWBA in August 2020 via a video on social media and after he faced backlash for meeting with Trump, which he dismisses as a “political thing.” He downplayed the narrative he supported the former president during his re-election campaign and said he’s met with both democrats and republicans about the plan.
“Our mission was always to talk to the public sector and try to get things done,” Jackson says. “We were going to spend our time going after the private sector and these businesses who make a lot of money off Black folks.”
The NFL’s partnership with CWBA comes as the league faces backlash about its approach to diversity. The NFL persists with its struggles to broaden the makeup of leadership, including at the head coaching level. In February, Pittsburgh Steelers assistant head coach Brian Flores filed a class-action lawsuit against the NFL and its 32 clubs, alleging racial discrimination in its hiring practices. And since Flores’ filing, the NFL changed its guidelines to require clubs to employ a woman or minority as an offensive coach starting in the 2022 season.
“This is how we decided to attack the wealth gap by going after big companies like the NFL.”
Ice Cube
Asked about the NFL’s long-term commitment to CWBA and if the league is using the initiative to repair its image, Jackson said the financial help isn’t a “one-time thing.” He added CWBA would add personnel to track partnerships with the NFL.
“They are helping,” Jackson says, “and no checks have bounced yet.”
