Alexis Ohanian: Angel City Ownership Setup Was a ‘Terrible Idea’

October 28, 2025

Reddit co-founder Alexis Ohanian acknowledges he made a mistake in ceding control of NWSL club Angel City to three of his cofounders—actress Natalie Portman, venture capitalist Kara Nortman, and entrepreneur Julie Uhrman—who he says put up “no money.”

Last year’s record-breaking takeover of Angel City by Bob Iger and Willow Bay at a $250 million valuation was done out of necessity after the club’s original ownership structure proved unsustainable, according to Ohanian.

Ohanian told FOS that ceding control of the NWSL team to cofounders who put up “no money”—including Natalie Portman—was a “terrible idea” and a mistake he wouldn’t repeat. FOS