Alexis Ohanian has said Chelsea can be "America's team" and backed the club to become "a billion dollar franchise one day."

Entrepreneur and co-founder of Reddit Alexis Ohanian has continued his investment into women’s sport by purchasing a minority stake in English soccer club Chelsea.

When you cover the sports business beat, you hear a lot of jargon — discounted cash flows, enterprise values, revenue multiple — usually from people trying to convince you that the amount they paid for a team is the result of a mathematical equation.