NFL, Ice Cube team up for economic-equity initiative for Black-owned businesses

The National Football League is working with Ice Cube.

O'Shea Jackson, also known as Ice Cube, is the leader of the Contract with Black America Institute.

"We feel like if you tackle the huge wealth gap between Black people and white people in this country, that should solve a lot of problems that are there," Ice Cube said. We focused on the NFL because it was the biggest company in the country that relied on Black consumers or Black workers.

Economic equity and partnerships with Black-owned businesses have been worked on by the NFL. The partnership with Ice Cube's CWBA will focus on identifying opportunities in the financial, tech and production sectors, with a focus on increasing direct and indirect spending to national Black businesses to help close America's racial and economic wealth gap.

Ice Cube, his business partner Jeff Kwatinetz, and advisers Ja'Ron Smith and Chris Pilkerton started this initiative in 2020. They presented the idea to the commissioner of the National Football League.

Ice Cube said it was cool to connect with TroyVincent and deliver our plan. "Roger said, 'Hey, we have to get this done.'" We have to get this done.

The National Football League has spent $125 million with Black-owned and operated businesses over the past year.

"Our partnership with CWBA is another reminder that partnering with intentional organizations is critical to everything we do at the league," the commissioner said. Black businesses are a major part of the economy. We understand these businesses have not always had the chance for rapid growth, so we are pleased to have partners like Ice Cube and his organization, CWBA, in a continued push towards greater economic inclusion.

Ice Cube said his group would like to work with other sports leagues and companies.

He said he was glad the league stepped up. They are the most influential and powerful Fortune 500 companies. They need to lead the charge. Up to $125 million has been allocated and spent. We want that to turn into $500 million, maybe a billion, and then move on to other leagues, and hopefully other companies like Nike and the big boys, and tell them to adopt the same thing.