Reddit founder Alexis Ohanian, Serena and Venus Williams have purchased the first club in the new Tiger Woods and Rory McIlroy-backed golf league (TGL).
The new team, called Los Angeles Golf Club (LAGC), is one of the inaugural six that the league is planning to auction before it launches next year in January.
The TGL, developed in partnership with the PGA Tour, was co-founded by TMRW Sports founders Woods, McIlroy and media executive Mike McCarley. According to PGA Tour, the league’s two hour, 18-hole matches will be played Monday nights in primetime, with teams playing on a virtual course within an arena based in Florida on the Palm Beach State campus. several pro-golfers have already committed to the league including Woods, McIlroy, Jon Rahm and Collin Morikawa.
Thrilled to announce @wearelagc —@tgl's inaugural team! An important part of Los Angeles Golf Club is making golf our own, for everybody, and I couldn’t be more excited to shape the future of this sport with my family @alexisohanian @OlympiaOhanian @Venuseswilliams pic.twitter.com/yfreL6jqM8
— Serena Williams (@serenawilliams) June 8, 2023
Both Serena and Venus are already minority owners in the NFL’s Miami Dolphins, and are continuing to build investment portfolios beyond tennis. Serena, who retired from professional tennis last year, has earned $94.6 million in prize money. She has invested in more than 60 companies, including Impossible Foods, MasterClass, Noom and Tonal. Venus, whose career prize winnings are $42.4 million, recently joined private equity firm Topspin Consumer Partners as an operating partner.
Serena Williams and her husband Ohanian were both previously announced as investors in TMRW Sports. Those investments are separate from their financial stakes in the new TGL team.