CHARLOTTE, N.C.- Basketball legend Michael Jordan and the Jordan Brand are giving $100 million to organizations dedicated to promoting racial equality and social justice.

In a joint statement last Friday on social media, Mr. Jordan and the Jordan Brand said money will be paid over 10 years with the goal of “ensuring racial equality, social justice and greater access to education.”

“Black lives matter,” the statement said. “This isn’t a controversial statement. Until the ingrained racism that allows our country’s institutions to fail is completely eradicated, we will remain committed to protecting and improving the lives of black people.”

Mr. Jordan, the 57-year-old former Chicago Bulls great, is the owner of the Charlotte Hornets. The Jordan Brand is a subsidiary of Nike, the shoe giant that earlier last Friday committed $40 million over the next four years to support the black community.

Mr. Jordan also released a statement on George Floyd and the killings of black people at the hands of police.

“I am deeply saddened, truly pained and plain angry,” Mr. Jordan stated. “I see and feel everyone’s pain, outrage and frustration. I stand with those who are calling out the ingrained racism and violence toward people of color in our country. We have had enough.”

Mr. Floyd was in handcuffs when a Minneapolis police officer pressed his knee into his neck as he pleaded that he couldn’t breathe. Derek Chauvin, who has since been fired from the police force, is charged with second degree murder and second degree manslaughter. His bail was set Monday at $1.25 million without conditions, or $1 million with conditions.