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Reddit co-founder Alexis Ohanian has purchased a franchise in the WTGL, becoming the second team owner in the upcoming women’s edition of TMRW Sports’ tech-infused golf competition.
Key details:
- Ohanian’s Los Angeles Golf Club (LAGC) will compete in inaugural season of WTGL
- Founder of Seven Seven Six venture capital firm paid US$20 million to secure team, according to Sportico
Context:
Ohanian invested in LAGC back in 2023 as part of an ownership group that includes his wife and tennis icon Serena Williams and her sister Venus Williams. The franchise were crowned champions of the second edition of the indoor golf league earlier this week.
The tech entrepreneur is the second TGL franchise owner to commit to the women’s competition, joining Atlanta Falcons owner Arthur Blank, who Sportico says also paid US$20 million to secure a team in February.
Ohanian has established himself as one of the most prominent investors in women’s sport, with stakes in Women’s Super League (WSL) side Chelsea and League One Volleyball’s LA-based franchise. He was also previously the majority shareholder of National Women’s Soccer League (NWSL) team Angel City FC and backs women’s track and field venture Athlos.
To that end, Ohanian previously revealed that he invested in the TGL under the condition that he would have first right of refusal for any future LA women’s TGL team, an option he has now exercised.
The deal is the latest example of the rising value of the TGL and now WTGL, both of which are backed by Tiger Woods and Rory McIlroy, who co-founded TMRW Sports alongside chief executive Mike McCarley.
Last year, Sports Business Journal (SBJ) reported that Ilitch Sports + Entertainment bought into LAGC at a US$90 million valuation. Meanwhile, according to Sportico, Blank’s Atlanta Drive GC were valued at US$100 million after selling a minority stake a few months earlier.
A partnership between TMRW Sports and the Ladies Professional Golf Association (LPGA), WTGL was announced in January and its inaugural season is set to begin this winter. The league’s lead partner is Trybe Ventures, the investment vehicle co-founded by US soccer great Alex Morgan.
The tournament will feature teams of LPGA Tour stars, with rosters to be revealed at a later date. Matches will take place at the custom-built SoFi Center in Palm Beach Gardens, Florida, which is the same venue used for TGL games.
Comment:
“My first question when I took the investment pitch for TGL was ‘men’s golf is great, but when can I get a women’s team?’,” said Ohanian. “I’m proud that today is the day we can officially announce buying the LA WTGL team.”
“Alexis and Serena have been vocal advocates for women’s sports and champions for WTGL since day one,” McCarley added. “As we build a global platform for women’s team golf, the support of partners like Alexis and Serena will be instrumental to our long-term success.
“Like his other investments in women’s sports, Alexis and his team understand the opportunity when shining a spotlight on amazing athletes and sharing their stories.”
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