When opportunities started drying up for track and field athletes, the sport’s future looked bleak; even Noah Lyles admitted it was “a dying sport.” But just when the track seemed to be losing its spark, Alexis Ohanian stepped in with Athlos, an all-women’s track and field revolution built on fair pay and genuine recognition. And now, Ohanian’s vision is growing even bolder, bringing Gabby Thomas, Tara Davis-Woodhall, and Sha’Carri Richardson into the fold as co-advisor-owners. But that leaves one question everyone’s asking: how much do the pie do these athletes own?

As Athlos’ opening day events unfolded, Alexis Ohanian sat down with Tara Davis-Woodhall for a media presser. While a barrage of questions came his way, one in particular grabbed everyone’s attention: a reporter boldly asked just how much percentage of Athlos’ ownership was divided and how much the co-founder actually owns. Responding to the query, Ohanian mentioned that they own 100% without bringing in any additional investors apart from advisor-owners in Gabby Thomas, Tara Davis-Woodhall, and Sha’Carri Richardson. He stated, “I have not brought on any additional investors. We own 100% of it, minus what we have given to our three sorts of investor-owner partners.” When reporters pressed further, asking exactly how much the three other co-founders owned, Ohanian responded, “I’m going to stop talking. But good effort. Good job.”

Rather than giving a direct answer that might have revealed their equity or preference shareholding, the Reddit co-founder offered insight into the mindset of a startup founder—or anyone seasoned in Silicon Valley. Trying to be transparent without disclosing specifics, Ohanian explained, “I’ll tell you this — we take a lot of inspiration from our friends over at Unrivaled. So, as we roll out the proper league with teams and everything else, you can expect a similar model where we want to make sure these athletes are fully incentivized and onboard. And frankly, one of the best highlights of my professional career was seeing millionaires get made out of admins who worked at Reddit.”

Alex Ohanian revealed that the company’s liquidity is strong, projecting millions in revenue this year, a figure few can match. What sets them apart, and serves as a lesson for anyone aiming to start a league, is their disciplined approach: despite already having capital, the team sets clear goals and runs the venture like a business. Drawing on his Silicon Valley experience, Ohanian knows that chasing excessive funding too quickly can derail genuine growth.

As of now, alongside Alexis Ohanian, three female athletes, Tara Davis Woodhall, Sha’Carri Richardson, and Gabby Thomas, are also sharing in the venture. How much exactly? That, for now, remains under wraps. The Reddit co-founder may not disclose the shareholdings, but he has a strategy to outpace his competitors in a way even the Diamond League hasn’t achieved.

Alexis Ohanian tweaks track rivals with a simple move

When Alexis Ohanian was working on the initial structure of Athlos, his vision was to make the league for the athletes. Hence, to bring power to that vision, he collaborated with Sha’Carri Richardson, Tara Davis-Woodhall, and Gabby Thomas. Being the advisor-owners of Athlos, the three Olympians helped with the feedbacks as the league was in the developmental stages. “Gabby, Sha’Carri and Tara represent a new generation of athletes who have put this sport on their shoulders and deserve to be compensated for being standard-bearers,” stated Ohanian.

Moreover, as Athlos returns to New York City after a blockbuster debut last year, it is expecting some changes, having expanded beyond just track events to include field events like the long jump. Last year, the league handed out $663,000 in prize money and drew millions of viewers. This weekend, the all-women’s track meet kicks off with the long jump in Times Square on Thursday night, before moving to Randall’s Island on Friday.

Ohanian told Front Office Sports that 2024’s athlete payouts landed “within a few business days” after the event. “That wasn’t good enough,” Ohanian said on an episode of Front Office Sports Today. “They’re getting paid within minutes of getting their time secured this year,” he added, thanks to a sponsorship deal he landed with Cash App.

Athlos partnered with Cash App as their official payments partner to bring a faster future to track & field, both on the track and at the finish line, introducing a new model for turning performance into pay. That’s not all: this year, Cash App is enabling immediate prize payments for all eligible athletes the moment results are confirmed. Beyond record-setting payout times, Cash App is also offering a $250,000 world-record bonus to any athlete who breaks a world record at Athlos NYC.