Credit: Front Office Sports
At a press conference in New York City, Alexis Ohanian — the Reddit co-founder and investor behind Athlos — admitted that his ambitious track and field start-up “has not been a profitable endeavor yet.”
While declining to share exact financial figures, Ohanian confirmed that the event is expected to generate “millions” in revenue this year — roughly three to four times more than its 2024 debut. Athlos, fully owned by Ohanian and his venture fund Seven Seven Six, also includes “advisor-owners” in elite athletes Gabby Thomas, Sha’Carri Richardson, and Tara Davis-Woodhall. The specific equity stakes of these athletes were not disclosed.
Expanding the Format: From Times Square to Randalls Island
The 2025 edition of Athlos opened with a long jump competition in Times Square, followed by a track meet on Randalls Island. The addition of the long jump event was influenced by Davis-Woodhall herself, who had previously criticized the lack of field events in the league’s format.
Ohanian revealed that he and the athletes collaborated on how to present the event, even considering unconventional ideas such as giving competitors just one attempt — a departure from the traditional six-jump format.
Next Step: Building a Team-Based League
Athlos is preparing to transition into a team-based league model next year — a move Ohanian says is inspired by Unrivaled, the women’s basketball league known for its equity-driven athlete structure. Under this model, athletes will receive ownership stakes, blending competition with entrepreneurship.
Navigating a Crowded Market
The surge in global running participation — now a $90 billion market — has fueled renewed investment in professional track. However, the challenge remains: converting casual runners into fans of the sport.
Rival start-up Grand Slam Track, which launched with roughly $30 million in funding, struggled to complete its inaugural season and is reportedly behind on athlete payments. In contrast, Athlos has pledged to pay out over $750,000 in guaranteed prize money during its current event cycle.
Building a Sustainable Future for Track
Ohanian, who also holds stakes in Chelsea FC Women, Angel City FC, and Tiger Woods’s TGL, said the disorganization within track and field came as a shock. “Nothing could prepare me for the broke-ness that exists in the infrastructure around this sport,” he noted.
Despite the financial hurdles, Ohanian’s goal is clear: to establish a sustainable, profitable league by the 2028 Los Angeles Olympics. “The goal here obviously is to build a highly profitable league,” he said. “The most important thing is that we build something that is sustainable and durable.”
365247 Insight
Athlos represents more than a track meet — it’s a laboratory for the future of athlete-owned sports ecosystems. By blending athlete equity, modern entertainment formats, and urban event experiences, Ohanian is betting that track and field can reinvent itself for a generation raised on spectacle and storytelling.
The challenge? Translating viral moments into a loyal, monetizable fan base. If Athlos can solve that equation by LA28, it might not just revive track — it could redefine what a modern sports league looks like.
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