It's been 62 years since Martin Luther King Jr. delivered his "I Have a Dream" speech calling for justice and equality for all.

To mark the historic moment, the WNBA team named after the speech – the Atlanta Dream – is launching a program to carry on the legacy of Dr. King's work.

The team is working with partners to eliminate $10 million in debt for families in Atlanta. The 3,500 recipients will have debts ranging from $500 to $80,000 erased.

"One of the things that we think is incredibly important is we believe that sport is a catalyst for social change and so we really lean into the community that serves us," Morgan Shaw Parker, the Atlanta Dream's president and chief operating officer, exclusively told "CBS Mornings."

Shaw Parker said the initiative isn't just about relieving debt

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