Major League Soccer made history on Thursday. It wasn’t on the field, at a stadium or around a transfer deal.
MLS announced it will leverage a historic $25 million loan from a syndicate of Black banks, marking the first time any sports league has participated in a major commercial transaction exclusively with Black banks.
The deal was facilitated by the nonprofit as well as MLS’s continued efforts towards Diversity, Equity and Inclusion.
“This is a deal that is historic and really an example of where we are in this country,” Ashley Bell, NBBF co-founder and general counsel, said at a virtual press conference. “This is a culmination of people with goodwill figuring out how to be impactful.”
Black Players For Change was integral to the deal being struck. The BPC is an independent organization consisting of over 170-plus players, coaches and staff of MLS, working to bridge the racial equality gap that exists in society. The organization was launched in June 2020.
“Sports athletes and its allies have always led on issues of equity and justice,” said Sola Winley, MLS Executive Vice President and Chief Diversity, Equity and Inclusion Officer. "Today’s announcement continues that tradition.”
As part of this partnership, MLS will collaborate with the National Black Bank Foundation, 100 Black Men of America, Inc., National Coalition of 100 Black Women and Black Players for Change to continue to increase the awareness of Black banks and educate their constituents and members on the opportunities that Blank banks can provide through economic empowerment programming.
“I routinely heard the word historic because that’s what this is,” said Black Players for Change co-founder and former MLS forward Quincy Amarikwa. "It’s historic on many fronts and many reasons, but what’s most important is that we continue to push forward with these policies and transactions that illustrate progress.”
Amarikwa, 34, last played in MLS in 2019 with D.C. United. He has 223 career appearances in the league with 26 goals and 20 assists.
“This deal is important to the banks because it gives them the chance to have a major client, like MLS, be on their books,” Bell said. “So the next time there’s an economic downturn, they’re not solely dependent on very fragile pieces of the Black economy. To balance that out with a great deal like this to limit risk and continue to do great work in the community.”
MLS and the National Black Bank Foundation worked with leaders across the league including club ownership, current and former MLS players and league officials to bring this landmark partnership to fruition.
“The players are catalysts,” Bell said. “They risked their reputation and sometimes their jobs to stand up for what they believe in. When you’re a fan like I am and many are, to see players stepping up, you have to rally.”
