Manchester City forward Raheem Sterling is planning to create a foundation aimed at helping improve the social mobility of disadvantaged young people.
The Sunday Times reported Sterling was still working on the details of the project, but that the England player was likely to contribute more than £1m.
The fund could top £10m with support from City and Sterling's main sponsors.
"I'm finished with 'what can happen, what should happen'. I'm trying to put into place stuff myself," he said.
"Stuff to give young people in the same circumstances I was in another shot."
Speaking to the Sunday Times magazine, he added: "If there is a university they want to go to, football equipment they need, other things... I want to be a helping hand."
Sterling, who was born in Jamaica and moved to London as a child, has long been an advocate of social change, particularly using his high-profile position to speak out and fight against racism.
He has also worked on a number of projects to help young people in Brent, the area of north-west London where he grew up.
Manchester United forward Marcus Rashford is another England international who has been trying to improve the lives of disadvantaged children, campaigning to provide more free school meals and end child food poverty.
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