Reddit Boss Alexis Ohanian Splashes $26.5m on Chelsea Women – Building a Sports Empire One Bold Bet at a Time
Reddit co-founder Alexis Ohanian has invested heavily in women's sports, including a $26.5m stake in Chelsea Women, after selling Angel City FC for $250m. In a Sports Illustrated chat, he slams charity-minded owners and bets big on digital-savvy fans driving the next boom. With ventures in golf, volleyball, and track, he's gunning for billion-pound empires.
From Reddit to the Pitch: Ohanian's Big Swing in Women's Football
Imagine swapping code for corner flags. That's Alexis Ohanian, the Reddit co-founder who's traded memes for multimillion-pound stakes in top sports outfits. No stranger to high-stakes gambles, the tech whizz has sunk $26.5 million into Chelsea Women last May, grabbing a 10% slice of the Blues' women's setup. But he's not stopping there – think Angel City FC, golf sim leagues, and even women's track meets.
He's no armchair fan either. Back in 2020, Ohanian launched Angel City FC in the NWSL, flogging it four years later to Disney kingpin Bob Iger and his missus for a whopping $250 million valuation. Pure business nous, or as he'd put it, spotting undervalued gems before the herd piles in.
Why Women's Sports? It's All About the Math, Mate
Chat with Ohanian – as Sports Illustrated did – and you'll hear it's dead simple: markets ripe for disruption. "It kicked off with a rage-tweet in 2019 about women's pro football being criminally undervalued," he reckons. Teaming up with ex-Angel City marketing guru Kayla Green, they've replicated the formula across golf and now volleyball.
Take Chelsea. It's not charity for him; it's capitalism on steroids. He recalls rocking up to his first NWSL governors' meeting, gobsmacked that some owners treated teams like a favour to their daughters. "If you're not chasing billion-quid empires, flog your shares and buzz off," he fires back. With live-in legend Serena Williams – mum to their two lasses – as proof women's sport can eclipse the lads', he's got the ultimate case study.
Serena even tried talking him out of it at first. "She'd seen the dodgy side of the game up close," he laughs. But that's fuel for Ohanian – experts warning him off just sharpens his edge. Now she's dipping toes into VC herself, but he keeps it strictly church and state. No unsolicited hubby advice, ta very much.
Battling Cat Videos for Fans' Hearts
Can these upstart leagues muscle in on the Premier League or NFL giants? Ohanian's all in on digital natives. Forget telly; today's punters devour clips amid TikTok cats and AI nonsense. "Earn attention in the wild west of the web, and massive media dosh follows," he predicts.
As a NFL-obsessed kid from a one-sport home, he's outsider fresh to football, golf, you name it. No baggage, just first-principles thinking. Emerging formats won't land blockbuster TV deals day one – you've got to scrap for every like. But win there? You're golden.
He's already eyeing more. October brought news of another LA franchise in the expanded League One Volleyball, hot on LA Golf Club's heels in Tiger Woods and Rory McIlroy's simulator circus. And Athlos, his all-women's track bash? Just another arrow in the quiver.
Dropping the Mic on Capitalism
What grinds his gears? Blokes in power dismissing women's sport as a side hustle, despite Serena's empire. Now, with cash flooding in, the tide's turning. "Win with capitalism, and you drop the mic," he grins. No more pleading for equality – results speak louder.
For Chelsea fans, it's a boon. Ohanian's not here for silverware alone; he's plotting global domination. Women's Super League faithful, get ready – this Yankee entrepreneur's rewriting the playbook, one savvy investment at a time. Cheers to that.