Reddit co-founder buys 10% stake in Chelsea Women for £20M
What's the story
Reddit co-founder Alexis Ohanian, who is also the husband of tennis champion Serena Williams, has bought a 10% stake in Chelsea Women's Football Club. The deal is worth £20 million (approximately $27 million).
Ohanian confirmed the news on social media, reiterating his commitment to women's sports.
"I've bet big on women's sports before - and I'm doing it again," he wrote on LinkedIn.
New role
Ohanian to serve as investor and board member
Not only has Ohanian invested in Chelsea Women FC, but he has also taken up a position as an investor and board member.
He said he was honored to help the club grow into "every American's favorite WSL team."
The move is in line with Ohanian's history of investing in women's sports, including his previous investment in LA-based independent women's football club, Angel City.
Club performance
Chelsea Women FC's undefeated season
Chelsea Women's FC, led by Emma Hayes, has had an incredible season, not losing a single league match.
The team will take on Manchester United in the Women's FA Cup final at Wembley on Sunday.
Ohanian praised these players for "rewriting the game," and stressed that his investment is about more than just winning titles.
He thinks it's time to match their talent with the resources, visibility, and respect they deserve.
Leadership praise
Ohanian commends Chelsea Women's CEO
Ohanian also praised Chelsea Women FC CEO Aki Mandhar for her integrity and commitment to excellence. He said these qualities played a major role in his decision to invest in the club.
His investment values Chelsea FC's women's section at £200 million (approximately $270 million), a valuation in line with last year's sale by the club's parent company to Blueco 22 Midco Ltd.