“I Wouldn’t Have…” – Serena Williams’ Husband Alexis Ohanian Credits ‘Rival’ Alex Morgan for Sparking His $100 Million Investment

In 2019, Alexis Ohanian expressed his interest in buying an NWSL team. His query on X met with a response from USWNT icon Alex Morgan and at that time, not much was made of it. But it turns out that Morgan was serious and had a key role in Serena Williams’s husband investing $100 million in NSWL side Angel City FC, a year later.

Ohanian has always been an advocate of investment in women’s sports and followed through on his words in 2020 when he became part-owner of the newly formed Los Angeles based club. Since then, Angel City FC has become the NWSL’s most valuable team, with a $180 million valuation.

The Reddit co-founder hasn’t forgotten the favor of the USWNT star. “It was Alex Morgan who reached out and said I can help,” he said in an Instagram clip he shared on 3 June, from the Sportico LA conference last month.

“I cannot stress enough. It is because of Alex that I got to spend the day with her, learning, asking a ton of dumb questions about professional women’s soccer, and gaining the confidence to say, ‘Yes, this is a huge investible opportunity.'”

In the clip, Ohanian then credit the “energy” and enthusiasm of Morgan and others that helped him make up his mind. “I wouldn’t have wanted to be a part of something where there wasn’t a ton of people who absolutely loved it and stars who were willing to say ‘lets talk as well as haters who were like this ain’t it.'”

In the Instagram clip he shared, Ohanian also displayed screenshots of the Twitter exchange between him and Morgan from nearly five years ago. Talking about how the players in the USA women’s soccer team should get paid what they deserve, he posted a tweet, “How do I become an owner of an NWSL team.” Alex Morgan promptly offered her help and Ohanian replied with “DM please!”

It seems their exchange was a fruitful one as Ohanian helped set up the Angel City FC soccer team and has invested both individually as well as through his venture capital firm Seven Seven Six. Morgan and Ohanian have enjoyed a cordial working relation, with the entrepreneur helping out the soccer star with her business decisions.

Morgan joined the hiring platform Teamable as an investor and the company’s chief inspiration officer in 2022. She admitted that advice from Ohanian has helped her navigate the field of investment and has been a great mentor to her. “We’re rivals on the soccer field, but off the soccer field, he’s really helped guide me in the VC space,” Morgan, who plays for San Diego Wave, revealed in an interview with INC magazine.

Ohanian’s interest in promoting women’s soccer has only grown since his involvement in Angel City FC. Notably, this interest first stemmed from wanting his daughter to play soccer at the biggest stage. As he was swept by the excitement of the 2019 FIFA Women’s World Cup, he told his wife about his wish. To this, the tennis icon said it won’t happen “until they pay her what she’s worth.” This set the ball rolling for Ohanian and thus came his interest to helping women’s soccer grow.

Angel City FC has been a model club and grown by leaps and bounds. But despite their success, the club has been looking for new owners with a controlling stake in the NWSL franchise.

Ohanian and Co. looking for sale of controlling interest in Angel City FC

There’s no doubt that Angel City has come a very long way since its inception. They had the highest revenue with $31 million in 2023 with San Diego a distant second at $16.3 million. They also attract large crowds, boasting the highest average attendance last season at  19,105.

But in March, it was reported that the franchise is looking for new ownership. The board of the club has reportedly even hired Moelis & Company to explore the potential sale of controlling interest in the franchise. This comes after alleged tensions among board members regarding operations and finances of the club. 

Notably, despite having the largest shareholding of the $180m valued club, Alexis Ohanian does not have control over the board. Hence, it remains to be seen exactly what percentage of equity is available for sale. The matters may be complicated even more, considering that there are over 100 investors in Angel City which includes many Hollywood A-listers, athletes, and other small investors.

According to Sportico, Ohanian said in an email he was not selling his equity and declined further comment. Representatives for Moelis, Angel City and the NWSL declined to comment.

Hence, the situation appears to be different from initial perceptions. However, it is interesting to learn of Alex Morgan’s assist to Alexis Ohanian in taking his first steps as an investor in the soccer world.