Reddit co founder Alexis Ohanian invests in Chelsea FC Women

Entrepreneur and co-founder of Reddit, Alexis Ohanian, has made a notable investment in the world of women's soccer by acquiring a minority stake in English club Chelsea FC Women. The deal was officially announced on Thursday, with the 42-year-old Ohanian set to join the club's board.

Ohanian expressed his enthusiasm for the investment, stating he was "proud" to support the "iconic club." His stated goal is to help elevate Chelsea FC Women to become the "most popular Women’s Super League (WSL) team in the US."

Chelsea FC Women is already a powerhouse in women's soccer, recognized as one of the "most successful teams." They recently celebrated securing their sixth consecutive league title, remarkably achieving an undefeated season. The team is also currently competing for a domestic treble and is scheduled to face Manchester United in the Women's FA Cup final at Wembley Stadium this Sunday.

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In comments shared on social media, Ohanian highlighted the team's achievements, noting their "Undefeated season" and "Eyes on the treble." He emphasized that his investment goes beyond chasing titles, stating it is about "finally matching their talent with the resources, visibility, and respect they deserve."

While Chelsea did not publicly confirm specific financial details of the deal, British media reports on Wednesday suggested that Ohanian's stake is a 10% share valued at "more than $26 million." Ohanian reportedly appeared to confirm this figure by sharing a screenshot of an article that referenced the amount.

Chelsea FC acknowledged the new investment in a statement released on Thursday, welcoming Ohanian to the club. They stated that he brings "a wealth of experience, energy and passion for women’s sports" that is expected to be instrumental in taking Chelsea Women to "the next level" and helping to "shine a light on the potential of the sport here in the UK." Ohanian also publicly praised the integrity and focus of the club's new CEO, Aki Mandhar, calling it a "huge factor" in his decision to invest.

This investment is consistent with Ohanian's track record in supporting women's sports. In 2022, he was a founding investor in Angel City FC, a Los Angeles-based team in the top US women's soccer league, the NWSL. Angel City later became the most valuable women's professional sports team globally. Ohanian also founded Athlos, a women's-only track and field event that debuted last year, offering substantial prize money and aiming to champion female athletes.

Ohanian's acquisition of a minority stake is seen as a significant boost for Chelsea FC Women, driven by his strong belief in and history of investing in the growth and potential of women's sports.