Kareem Abdul-Jabbar is auctioning off four of his six title rings; will give proceeds to charity for kids

Basketball legend Kareem Abdul-Jabbar has announce that he's putting four of the six championship rings he earned during his NBA career up for auction, but he says he won't keep any of the money he earns from their sale.

What's the story?

Abdul-Jabbar, 71, insists that this has nothing to do with any financial difficulties. Instead, he said that he wants to donate all of the proceeds from the auction to the Skyhook Foundation, a charity he runs that tries to bring "educational STEM [science, technology, engineering, and math] opportunities to underserved communities."

"When it comes to choosing between storing a championship ring or trophy in a room, or providing kids with an opportunity to change their lives, the choice is pretty simple. Sell it all," Abdul-Jabbar said in a blog post explaining the decision. "Looking back on what I have done with my life, instead of gazing at the sparkle of jewels or gold plating celebrating something I did a long time ago, I'd rather look into the delighted face of a child holding their first caterpillar and think about what I might be doing for their future. That's a history that has no price."

The four rings Abdul-Jabbar is auctioning off came from the championship games in 1980, 1985, 1987, and 1988. He's also auctioning off a signed and inscribed basketball from the final game he played, signed jerseys, seven All-Star Game rings and three of his Most Valuable Player Podoloff Trophies.

His championship ring from 1985 has a current bid of $90,000 at the time of this writing. The rings from 1987, 1988, and 1980 have current bids of $85,000, $75,000, and $70,000, respectively, adding up to a current grand total of $320,000. The auction will be open until Saturday.

Abdul-Jabbar, a Hall of Fame center, played for the Milwaukee Bucks and the Los Angeles Lakers. He retired in 1989.