Boston Celtics All-Star Jaylen Brown agreed to a record five-year, $304 million supermax extension, the richest deal in NBA history.
Brown spoke to reporters on Wednesday and expressed his goal to “attack the wealth disparity” in Boston with his record contract.
“I want to launch a project to bring Black Wall Street here to Boston. I want to attack the wealth disparity here,” Brown said when asked what he plans to do with his “generational wealth.”
“I think there’s analytics that support that stimulating the wealth gap could actually be something that could be betterment for the entire economy,” he said. “With the biggest financial deal in NBA history, it makes sense to talk about, one, your investment in community, but two also, the wealth disparity here that nobody wants to talk about. It’s top five in the U.S. It’s something that we can all improve on. It’s unsettling.”
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“And 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 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.”
According to findings from U.S. News and World Report, Massachusetts ranks 5th across all 50 states with the largest income inequality gap. Those rankings are based on the Gini Index, which is based on data collected from the U.S. Census Bureau.
Boston itself does not rank in the top 10 U.S. cities with the largest income inequality gaps, based on an article by U.S. News and World Report from 2020.
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“It’s not just about a contract or money or playing basketball. It’s about making a difference in life,” Celtics owner Wyc Grousbeck said. “That’s what Jaylen embodies to me and to my partner, Steve [Pagliuca], and others and to all of us here at the Celtics. He’s a true Celtic. He’s a Celtic for years to come.”
“We live and burn with the desire to make the world a better place. And as well, not to be forgotten, to win banner 18.”
Since being drafted by the Celtics with the third overall pick of the 2016 NBA Draft, Brown and Boston have made the playoffs for seven consecutive seasons.
Brown and Jayson Tatum led the Celtics to the NBA Finals in 2022, losing to the Golden State Warriors in six games.
Last season, Brown averaged career highs in points (26.6 per game) and rebounds (6.9 per game) as Boston advanced to the Eastern Conference Finals for the second consecutive season.
The massive contract comes after Brown was selected to the All-NBA second team during the 2022-2023 season, making him eligible for the supermax extension.
