After Angel City’s Board Struggles, Serena Williams’ Husband Alexis Ohanian Offers Insightful Advice on Founder’s Breakups

Valued at $180 million, Angel City FC is by far the most valuable franchise in the NWSL. Unfortunately, the performances are yet to match the price tag as Alexis Ohanian’s side is languishing in 11th place. The LA-based outfit has a big problem on the field as they are struggling to score goals (11 in 10 games). But, the club has even bigger problems outside of it as the owners have been feuding for months! Following the rift, Ohanian’s new social media update hints at what’s going on behind the scenes.

Tech entrepreneur and husband of Serena Williams, Alexis Ohanian’s new post on Instagram is quite fascinating. In the clip, Ohanian offers advice to founders going through breakups. He said, “Those founder breakups rarely happen when things are going well because success masks all those problems. But, when there is conflict between the owners, it is important to open up that communication.”

Although it seems like Alexis Ohanian is promoting a service, this advice easily extends to Angel City FC. The entrepreneur is reportedly in a power struggle with co-owners Natalie Portman, Julie Urham, and Kara Nortman. But what is the reason for this tension? Let’s find out.

The reason why Alexis Ohanian is unhappy with the Angel City board

Last year, Angel City FC spent more than any other side in the division. Alexis Ohanian however, was not a big fan of this excessive spending. Unfortunately, despite being the majority shareholder, he is powerless in this regard. This is because Ohanian does not have board control or a majority of the equity. Instead, he has to share power with the co-owners. Given his limited say in how his cash is spent, the entrepreneur has not been in the best of terms with the other owners.

But things are set to change soon. The story is that Angel City’s owners have hired Moelis & Co, an investment bank to find a new investor. As per Sarah Harden, an early investor at the club, the move is just aimed at fund raising. She explained, “Angel City is exactly where it needs to be as a club. In high-growth companies it is absolutely normal to step back and look at ‘what do we need to continue this growth?” 

Alexis Ohanian on the other hand has confirmed that he won’t be selling his equity. But, the other owners of the club could opt to cash out. It all depends on how the investment pans out. Perhaps the investment could be a good idea, considering that Angel City lacks its own training facility and stadium. What is your take on the story? Let us know below.