In a video posted on Twitter, the Patriots announced that the Kraft family has pledged $1 million in total that will be broken up into monthly donations of $100,000 for 10 months:
The Patriots noted that the organizations that receive the money will be chosen in collaboration with the team's players.
Kraft is one of many big names in the sports world who have spoken out against racial inequality since the death of George Floyd in Minneapolis police custody on May 25.
Floyd was pronounced dead at a hospital after Officer Derek Chauvin had his knee pressed on the back of his neck for nearly nine minutes. Floyd told Chauvin that he couldn't breathe several times, but Chauvin didn't change his position.
Chauvin was fired, arrested and charged with second-degree murder and second-degree manslaughter, while the other three officers on the scene were fired and charged with aiding and abetting for not stopping Chauvin.
In the wake of Floyd's death, protests against racial inequality, police brutality and social injustice have broken out in major cities across the United States.
The 78-year-old Kraft is the most successful owner in the history of the NFL, as his Patriots have earned 10 Super Bowl berths and won six Super Bowl championships since buying the team in 1994.
With Kraft at the helm, the Patriots are tied with the Pittsburgh Steelers for the most Super Bowl wins in league history.