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Straits Times
14-05-2025
- Business
- Straits Times
Reddit co-founder Ohanian buys stake in WSL side Chelsea
FILE PHOTO: Alexis Ohanian, founder of Seven Seven Six and co-founder and former executive chairman of Reddit, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2023. REUTERS/Mike Blake/File Photo Alexis Ohanian, the Reddit co-founder and husband of tennis great Serena Williams, has acquired a stake in Women's Super League champions Chelsea, he announced on Wednesday. "I've bet big on women's sports before—and I'm doing it again," Ohanian posted on X. "I'm proud to announce that I'm joining Chelsea Women as an investor and board member. I'm honored for the chance to help this iconic club become America's favourite WSL team and much, much more." A source told Reuters that Ohanian had acquired a 10% stake in the team. Ohanian's investment of 20 million pounds ($26.52 million) values the London-based club at about 200 million pounds. The 42-year-old has been involved in women's soccer before and was the largest shareholder of Angel City, which he helped launch to great fanfare in 2020, before it was sold for $250 million in 2024. He also founded Athlos NYC, a women-only track and field meet that hosted its inaugural event in September with the winners each pocketing $60,000. According to a report in the Times on Wednesday, Ohanian and Williams will be in attendance at Wembley Stadium on Sunday to watch Chelsea take on Manchester United in the women's FA Cup final. Chelsea's women's team passed from Chelsea FC Holdings Limited to BlueCo, Todd Boehly's consortium, last June in a deal worth around 198.7 million pounds. Following the sale, Chelsea Women appointed Aki Mandhar as their first-ever dedicated chief executive officer as part of a "repositioning" effort. Earlier this month, Chelsea won their sixth consecutive WSL title, finishing unbeaten in their league campaign and setting a points record. They also won the Women's League Cup in March and reached the semi-finals of the Women's Champions League, where they were knocked out by holders Barcelona. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
14-05-2025
- Business
- Yahoo
Serena Williams' tech mogul husband buys £20m stake in Chelsea Women
Chelsea Women have found a new investor in Alexis Ohanian, an American tech mogul and husband to legendary tennis player Serena Williams. The New Yorker, who co-founded social media site Reddit in 2005, has purchased a 10 per cent stake in the WSL champions, worth £20million. Ohanian announced the investment in a post on X, writing: 'I've bet big on women's sports before—and I'm doing it again. 'I'm honoured for the chance to help this iconic club become every American's favourite [Barclays WSL] team and much, much more.' He will sit on the club's board, and 23-time major winner Williams is also expected to be involved in the running of the club. Both are also expected to attend the FA Cup final at Wembley Stadium on Saturday, where Chelsea will face Manchester United as they look to complete a domestic treble, having already won the League Cup and gone unbeaten in the WSL. Ohanian had previously been a majority shareholder in National Women's Soccer League side Angel City FC, which last year became the most expensive team in women's football, selling for £190m. He also founded Athlos NYC, a women-only track and field meet that hosted its inaugural event in September, with the winners each pocketing $60,000. The deal effectively marks Chelsea Women as the most valuable club in the women's game at £200m, which could have implications for Chelsea's financial fair play standing. The club's owners had avoided a Profit and Sustainability Rules violation last year after selling the women's team to a sister company for £200m. The Premier League has yet to approve that valuation as 'fair market value', but Ohanian's investment will help Chelsea's case. Following the sale, Chelsea Women appointed Aki Mandhar as their first-ever dedicated chief executive officer as part of a "repositioning" effort. The deal also serves as a boost for the women's game as a whole. Average WSL attendances have dropped by 9 per cent this year, though Ohanian and Chelsea reportedly expect the game to grow at speed in years to come, with this summer's European Championships also likely to prompt an uptick in interest. Additional reporting: Reuters
The Star
14-05-2025
- Business
- The Star
Soccer-Reddit co-founder Ohanian buys 10% stake in WSL side Chelsea, source says
FILE PHOTO: Alexis Ohanian, founder of Seven Seven Six and co-founder and former executive chairman of Reddit, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2023. REUTERS/Mike Blake/File Photo (Reuters) -Alexis Ohanian, the Reddit co-founder and husband of tennis great Serena Williams, has acquired a 10% stake in Women's Super League champions Chelsea, a source told Reuters. Ohanian's investment of 20 million pounds ($26.52 million) values the London-based club at about 200 million pounds. The 42-year-old has been involved in women's soccer before and was the largest shareholder of Angel City, which he helped launch to great fanfare in 2020, before it was sold for $250 million in 2024. He also founded Athlos NYC, a women-only track and field meet that hosted its inaugural event in September with the winners each pocketing $60,000. According to a report in the Times on Wednesday, Ohanian and Williams will be in attendance at Wembley Stadium on Sunday to watch Chelsea take on Manchester United in the women's FA Cup final. Chelsea's women's team passed from Chelsea FC Holdings Limited to BlueCo, Todd Boehly's consortium, last June in a deal worth around 198.7 million pounds. Following the sale, Chelsea Women appointed Aki Mandhar as their first-ever dedicated chief executive officer as part of a "repositioning" effort. Earlier this month, Chelsea won their sixth consecutive WSL title, finishing unbeaten in their league campaign and setting a points record. They also won the Women's League Cup in March and reached the semi-finals of the Women's Champions League, where they were knocked out by holders Barcelona. ($1 = 0.7542 pounds) (Reporting by Aadi Nair in BengaluruEditing by Toby Davis)
Reuters
14-05-2025
- Business
- Reuters
Reddit co-founder Ohanian buys 10% stake in WSL side Chelsea, source says
May 14 (Reuters) - Alexis Ohanian, the Reddit co-founder and husband of tennis great Serena Williams, has acquired a 10% stake in Women's Super League champions Chelsea, a source told Reuters. Ohanian's investment of 20 million pounds ($26.52 million) values the London-based club at about 200 million pounds. The 42-year-old has been involved in women's soccer before and was the largest shareholder of Angel City, which he helped launch to great fanfare in 2020, before it was sold for $250 million in 2024. He also founded Athlos NYC, a women-only track and field meet that hosted its inaugural event in September with the winners each pocketing $60,000. According to a report in the Times on Wednesday, Ohanian and Williams will be in attendance at Wembley Stadium on Sunday to watch Chelsea take on Manchester United in the women's FA Cup final. Chelsea's women's team passed from Chelsea FC Holdings Limited to BlueCo, Todd Boehly's consortium, last June in a deal worth around 198.7 million pounds. Following the sale, Chelsea Women appointed Aki Mandhar as their first-ever dedicated chief executive officer as part of a "repositioning" effort. Earlier this month, Chelsea won their sixth consecutive WSL title, finishing unbeaten in their league campaign and setting a points record. They also won the Women's League Cup in March and reached the semi-finals of the Women's Champions League, where they were knocked out by holders Barcelona. ($1 = 0.7542 pounds)
Straits Times
14-05-2025
- Business
- Straits Times
Reddit co-founder Ohanian buys 10% stake in WSL side Chelsea, source says
FILE PHOTO: Alexis Ohanian, founder of Seven Seven Six and co-founder and former executive chairman of Reddit, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2023. REUTERS/Mike Blake/File Photo Alexis Ohanian, the Reddit co-founder and husband of tennis great Serena Williams, has acquired a 10% stake in Women's Super League champions Chelsea, a source told Reuters. Ohanian's investment of 20 million pounds ($26.52 million) values the London-based club at about 200 million pounds. The 42-year-old has been involved in women's soccer before and was the largest shareholder of Angel City, which he helped launch to great fanfare in 2020, before it was sold for $250 million in 2024. He also founded Athlos NYC, a women-only track and field meet that hosted its inaugural event in September with the winners each pocketing $60,000. According to a report in the Times on Wednesday, Ohanian and Williams will be in attendance at Wembley Stadium on Sunday to watch Chelsea take on Manchester United in the women's FA Cup final. Chelsea's women's team passed from Chelsea FC Holdings Limited to BlueCo, Todd Boehly's consortium, last June in a deal worth around 198.7 million pounds. Following the sale, Chelsea Women appointed Aki Mandhar as their first-ever dedicated chief executive officer as part of a "repositioning" effort. Earlier this month, Chelsea won their sixth consecutive WSL title, finishing unbeaten in their league campaign and setting a points record. They also won the Women's League Cup in March and reached the semi-finals of the Women's Champions League, where they were knocked out by holders Barcelona. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
