Holland & Knight Advises NBA Basketball Star With Establishing Boston Nonprofit
Holland & Knight advised 2024 NBA champion and Finals MVP Jaylen Brown with establishing Boston XChange, a nonprofit dedicated to generating $5 billion in generational wealth for Boston’s historically marginalized communities. The firm helped form the nonprofit as well as provided counsel on intellectual property, tax and real estate issues for Boston XChange.
Last summer, Brown signed his veteran supermax contract extension – a five-year, $285 million deal. After signing, Brown laid out his vision for transformative change in Boston. He developed Boston XChange to empower the city’s underrepresented creators and entrepreneurs by providing the resources, support and opportunities they require to succeed and thrive. The project is designed to be replicated to address wealth disparities in other cities.
“True systemic change requires collaboration, shared vision and collective impact. By working with community partners, thought leaders and cultural influencers, we can create a powerful network of support and innovation. This collective effort will empower underserved communities, drive sustainable economic growth and enhance the quality of life for everyone in Boston,” said Brown. “The launch of Boston XChange is a key component of this strategy, providing a dynamic hub for these collaborative efforts. Together, we can close the wealth gap and transform Boston’s economic landscape, ensuring that every individual has the opportunity to thrive and succeed.”
Boston XChange’s first program, the Boston Creator Incubator + Accelerator, is now accepting applications. Brown is partnering with his teammate Jrue Holiday and his wife, two-time Olympic gold medalist Lauren Holiday’s JLH Social Impact Fund, on this initiative. The program will sponsor entrepreneurs in the Greater Boston Area in design, arts, media, entertainment, fashion and culinary arts. The Incubator + Accelerator offers each entrepreneur up to $100,000 in grant funding over three years. It will also provide access to workspace and business services valued at more than $150,000.
Holland & Knight’s representation of Brown was led by Partners Jake Schneider, Jeff Seul, Diane McDermott, Tiffani Lee, Chauncey Lane, Jonathan Blum and O’Kelly E. McWilliams III and Associate Willie Biddings.