In April 2024, women’s tennis legend Serena William’s husband and Reddit co-founder Alexis Ohanian stunned the track and field world. The CEO-turned-venture capitalist announced a brand-new venture with Gabby Thomas, named Athlos. Ohanian has promised to shake things up, with Athlos’s inaugural edition set to take place inside Ichan Stadium in New York. But there are hurdles they have to cross at first.

One of the biggest issues that Athlos NYC promises to tackle will be the low payouts champion athletes have to settle for, despite being the best in the world. Only the best of the best, such as Noah Lyles, Sydney McLaughlin-Levrone, and other Olympic and World Championship medalists, earn enough money to pursue athletics full-time. However, Ohanian has big plans.

What you need to know about prize money for the inaugural Athlos event

Athlos materialized shortly after U.S. track and field icon Michael Johnson announced the Grand Slam Track. While having the legendary Michael Johnson’s name earned the upcoming 2025 league huge credibility, Alexis Ohanian is a new face in track and field. So that’s why the 41-year-old went to three-time Olympic gold medalist Gabby Thomas.

The duo needed to make a big splash to attract both the fans and the top athletes from across the globe. In a year when athletes have run at the Olympics, holding an event after the season is official poses significant challenges. So that’s why Athlos NYC doubled the prize money of the Diamond League. While the league offered $30,000 to the winner, Athlos NYC promised $60,000.

However, that’s the tip of the iceberg. The Gabby Thomas-endorsed event will exclusively allow women and hold six events. These include the 100m hurdles, 100m, 200m, 400m, 800m, and 1500m. While the categories are limited, the top six athletes in each race will earn prize money. The winner of each event will walk away with $60,000, while those who finish second earn $25,000.

While that might sound like a significant drop, it’s still only $5000 less than what each year’s Diamond League champion earns. Besides, athletes who place third, fourth, fifth, and sixth will earn $10,000, $8,000, $5,000, and $2,500, respectively. So Athlos NYC beats the Diamond League’s $30,000 to $2000 prize money for the top six at every tier.

Hence, with a total prize pool of 663,000, Athlos NYC will become the highest-paid women’s track and field event on September 26. However, you may argue that Diamond League offers $10,000 to the winner of each leg. Hence, although impossible, an athlete who wins all 14 legs of the Diamond League stands to win nearly $200,000 in prize money.

That’s why Ohanian didn’t just stop at fixed prize money. According to the founder of the league, winners will also earn 10% of all ticket sales revenue divided into six even halves, on top of the $60,000 prize money. So the only question is: what motivated Alexis Ohanian to make such a drastic move?

Why Alexis Ohanian joined forces with Gabby Thomas to go all in

Alexis Ohanian, who was a regular fixture at Serena Williams’ tennis matches, took an interest in other sports. His first taste of track and field came during the 2024 U.S. Olympic Trials. Track and field’s popularity surprised the 41-year-old. However, the fact that elite athletes had so little monetary incentive also shocked him.

While discussing the event on social media, Alexis Ohanian explained how Gabby Thomas inspired him to commit. “Hey, what would you change about the sports? Especially the professional side of it, outside the Olympics?” Ohanian asked the five-time Olympic medalist. So when Thomas told him about the prize money, Ohanian knew he could make a difference.

“That was very clearly inadequate!” said the investor, having seen tennis players earn millions each year. “You cannot be a professional athlete by definition if you can’t spend all of your time doing your profession. And when the top, top, top, top prize is 30 grand, you ain’t doing full-time professionally; no one is. So that was the opportunity,” revealed the Reddit co-founder.

So he spoke to Gabby Thomas and several other athletes and came up with Athlos. The winners of Athlos NYC stand to earn north of $60,000 from a single race. Alexis Ohanian also ensured that a performance by Megan Thee Stallion would help boost the hype and the ticket sales, allowing him to put more money in the athletes’ pockets.

While Athlos NYC will be the entrepreneur’s first venture into track and field, it won’t be the first time he has invested in sports. While speaking to Citius Mag, the Reddit co-founder retraced his journey with Angle City FC. Ohanian felt shocked to learn a professional women’s soccer worth only $3.5 million. Foreseeing growth, Ohanian sponsored the team, and today it stands at $300 million in valuation.

Alexis Ohanian feels Gabby Thomas and her fellow athletes are worth just as much. “The fastest women in the world deserve nothing less than the best,” the Reddit co-founder wrote on Instagram. And that’s why, whether it’s prize money or the spectacle, Ohanian is going all in with Athlos NYC.