Jaylen Brown wants to bring Black Wall Street to Boston, address wealth disparity
On Wednesday, Brown signed a five-year, $304 million supermax contract extension with the Boston Celtics, making his the richest contract in NBA history.
Jaylen Brown is making significant strides off the court as he works to bring Black Wall Street to Boston and address the “unsettling” wealth disparity.
On Wednesday, the NBA guard/forward signed a five-year, $304 million supermax contract extension with the Boston Celtics, making his contract the richest in NBA history, according to CNN.
Given the significant deal, Brown said discussing a one-year commitment in the community makes sense. He also noted Boston’s wealth imbalance — “that no one wants to talk about,” he says — is among the highest in the country and contends that we can all do better.
“I want to launch a project to bring Black Wall Street here in Boston,” Brown said Wednesday at the MIT Media Lab, CNN reported. “I want to attack the wealth disparity here. I think there’s analytics that supports that stimulating the wealth gap could actually be something that could be better meant for the entire economy.”
Brown said it was “fitting” to hold the press conference about his significant new NBA contract at his 7uice Foundation’s Bridge Program rather than the team’s facilities.
“We have a lot of work ahead of us as we put pen to paper because I believe it was just perfect timing for it to be here,” he noted in response to a question. “We all have a responsibility to improve the area in which we all reside. I believe that we are all on the same journey.”
Salary tracking website Spotrac reported that Brown’s deal exceeded the $276 million contract Denver Nuggets player Nicola Jokić inked in 2022, according to CNN.
Brown, the third overall pick in 2016, averaged a career-high 26.6 points, 6.9 rebounds and 3.5 assists per game last year. He qualified for the new deal after being selected to the All-NBA second team for the 2022-23 season.
The 26-year-old has played for the Celtics for seven seasons, assisting them in reaching five Eastern Conference Finals and the NBA Finals in 2022.
His contract extension — a big jump from his previous four-year $106 million deal — goes into effect in the 2024–2025 season and runs until Brown turns 32 in the 2028-2029 season.
Brown said he believed Boston has the potential to be a fully integrated, self-sufficient hub that might serve as a model for wealth imbalance in the U.S. and globally, CNN reported.
“I think through my platform, through influential partners, through selected leaders, government officials, a lot who are in this room, that we can come together,” Brown maintained, “and create new jobs, new resources, new businesses, new ideas that could highlight minorities but also stimulate the economy and the wealth gap at the same time.”
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