The Rays' statement comes just over a week after the death of George Floyd in police custody in Minneapolis.
"The evils of systemic and institutionalized racism continue to plague our nation. We know that, all too often, these cases are dismissed or excused without justice being served," a section of the statement read.
"Black Lives Matter. Police brutality is inhumane. We fully support the protestors exercising their civil rights. We stand with black families living in fear. Our country demands better than this for its people. We can't breathe."
The Rays plan to identify and share the organizations they will be directing the money to within "the coming days and weeks."