The NBA Players Legacy Fund (formerly the NBA Legends Foundation) exists to help former NBA and ABA players transition to new careers after basketball and get back on their feet after medical or financial difficulties. The NBA Legends Foundation is jointly funded by the National Basketball Players Association and the National Basketball Association.
Over 30 years ago, the Fund was established to assist former NBA players who were sick or injured. Historically, proceeds from the Legends Classic, a game played first at the Kutcher ’s Resort in the Catskill Mountains and then at the NBA All-Star weekend, funded the Foundation.
The Fund makes cash grants to eligible former NBA and ABA players who are experiencing financial difficulties, suffering from major medical issues, seeking new career opportunities, completing an undergraduate or graduate degree, enrolling in a vocational or certificate program, or entering residential treatment for drug or alcohol addiction. The Fund also helps the families of deceased players cover funeral and memorial expenses. In addition to cash grants, the Fund provides grantees with financial counseling and career planning.
All former NBA and ABA players who played for 3 seasons or more are eligible to apply for a grant from the NBA Players Legacy Fund.
Grants are typically made in amounts ranging from $5,000 – $15,000. Applicants can apply for an additional grant six months after receiving their last grant, until they reach their lifetime maximum of $30,000 for former NBA players or $10,000 for former ABA players. On rare occasions, the Fund will make larger grants to individuals in extreme circumstances.