Alex Morgan: From the Field to the Office, a New Chapter in the World of Sports
A year ago, after announcing her pregnancy and almost immediate retirement, the star of women’s soccer, Alex Morgan, was alone in her car, overwhelmed by emotion. Now, the iconic player has made a surprising turn in her career, moving from the fields to business, establishing herself as an influential figure in the sports field.
“I told myself, ‘Ok, it’s out now. Now I’m going to enjoy it’,” Morgan said in an exclusive interview.
Alex Morgan
With a 15-year career full of successes, including two World Cup titles and an Olympic gold medal, Morgan closed her stage as a player, but had already been working on her next chapter: the business world.
For over a decade, Morgan was the face of the United States women’s national team and one of the most recognized female athletes worldwide. Her fame transcended the sport, signing deals with brands like Coca-Cola and Nike, and participating in commercials with stars like LeBron James. This exposure allowed her to closely observe how the business of sports works, but also how female athletes have been failed in terms of media coverage and salaries.
Currently, Morgan is a minority investor in the San Diego Wave FC, her latest team, and has also invested in the new 3-on-3 women’s basketball league, Unrivaled. In addition, in 2019, she co-founded the content brand Togethxr alongside other Olympic athletes such as Sue Bird, Simone Manuel, and Chloe Kim.
“I realized that there are many ways for athletes to continue their business beyond their sporting career and turn it into a business, of their brand, long after their playing days,” Morgan explained. “That’s what I’ve been trying to establish in the last five to eight years.”
Morgan’s experience in elite sports has attracted other female entrepreneurs. Olivia Walton, founder of Ingeborg Investments, met Morgan at a women’s conference on venture capital. Walton, who joined Togethxr as an investor, highlighted Morgan’s achievements as a player.
“Alex approaches business the same way he approaches competition: with curiosity, intensity, and purpose,” said Walton. “He sees opportunities that others miss because he’s lived the athlete’s journey and brings an authenticity that is rare in this space.”
Togethxr’s main business is branded studio content, including films focused on female athletes. The company claimed to be profitable last year and experienced a large increase in revenue and valuation.
“That 360-degree perspective is unmatched and makes her one of the most important voices shaping the future of the game,” added Walton. “Few people can walk into a room and be heard by players, sponsors, and investors alike like Alex does.”
Despite her business success, Morgan acknowledges that she has been learning on the job. She studied political economy at Cal-Berkeley, but was already a household name with the USWNT before graduating.
Currently, Morgan is busy, being a mother of two children and seeking balance in her life. Through Trybe Ventures, her investment arm with her husband, Servando Carrasco, she has a stake in about twenty companies ranging from media to sports technology.
Dan Levy, Morgan’s agent, pointed out that it’s rare to find an athlete who successfully navigates business during their career. “Many athletes struggle to find a way to manage their career and be the best at what they do on the field, on the court, and at the same time, dedicate time, effort, and work to build their business outside of it,” he commented.
Morgan draws on her experiences as an athlete and the experience of her partners to hone herself as a businesswoman. “I am learning in this new space every day,” Morgan stated. “It’s very humbling and also very challenging in many ways, in a good way, in the way I was challenged on the soccer field every day. I feel that I rely on many of the skills I learned in soccer, many of the personal character-building skills that I can apply to business.”
Morgan made a quick transition from player to Wave team owner, retiring last September and joining the team as an investor in May.Legend: Morgan reflects on the ‘impossible’ dream of playing soccer. Alex Morgan says that never in her “wildest dreams” would she see the San Diego Wave retire her number 13 jersey.
Last year, amidst the turmoil of the Wave on and off the field, which included accusations from former employees about a toxic work environment, Morgan spoke as an active player, tweeting that “it’s clear there’s a lot of work to be done.” Since then, the team has fully transferred ownership to the Levine Leichtman family and has revamped its front office, including the departure in December of former team president Jill Ellis, who, along with the club, denied the accusations of the former employees. (Ellis filed a defamation lawsuit, while the employees are suing the Wave and the NWSL).
When asked what has changed at the club in just over a year and why she invested, Morgan said that one of the reasons she wanted to invest is to provide feedback from the perspective of a former player. She said she wants to provide mentorship to young players, several of whom on the Wave are teenagers. Defender Kennedy Wesley, twenty-four years old, said after the Wave retired Morgan’s number 13 jersey on September 7 that she grew up with a poster of Morgan on her wall.
Morgan was much more than a great player who scored 123 international goals. She was a central figure in the USWNT’s fight against the United States Soccer Federation for equal pay, which she achieved through an agreement in 2022 after a six-year struggle. She was also actively involved in the NWSL’s collective bargaining negotiations, and was one of the prominent voices in the fight against the NWSL’s previous inaction against abuse.
His public statements contributed to the firing of Paul Riley from the North Carolina Courage for alleged prior sexual misconduct with players, and to the removal of former NWSL commissioner Lisa Baird for her handling of the complaints.
Morgan said the NWSL has improved significantly since “the leanest years” when it launched with her as a player in 2013, and since the league’s recent review after multiple investigations revealed “systemic” abuse.
Players have gained more representation and protection in the workplace through the new CBA. A specific policy that Morgan pointed out is the ability to take paid mental health leave, as several players in the NWSL have done this year.
“That just didn’t exist a couple of years ago,” Morgan said. “I tried to do it with the national team and then I didn’t get called back for six or seven months because of that, because of raising my hand and saying I need a break, I just had a baby and I need to step away from this next camp. And then I wasn’t invited back for six or seven months.”
“Players can now do that without repercussions. Everyone needs a break at some point or another, whether it’s in their second year or their fifteenth year playing football, playing sports, at their job. The ability to be able to do that is something new and I feel like I’ve advocated for players to be the driving force of this league.”
“There is no league without players, so let’s treat them well, let’s give them all the resources we can, such as financial education, mental stability, family planning, whatever it may be. I have fought for those things as a player and now as an owner.”
Morgan has known for a long time that she has a large platform. Her voice has directly driven change in the NWSL and US Soccer, and that hands-on approach remains. “She’s not just lending her name, she’s in the meetings, driving ideas and shaping the vision,” Walton said. “That level of commitment is rare.”
Morgan’s commitment to growth is embodied in the slogan made famous by Togethxr: “Everyone sees women’s sports.” It’s an increasingly widespread campaign in clothing, but it’s also statistically supported (even if slightly exaggerated) by the increase in media deals, attendance, and ratings across all women’s sports. Women’s sports have become big business.
NWSL teams have increased from $2 million in sales five years ago to a $250 million sale of Angel City FC last year. Transfer fees crossed the $1 million mark for the first time in January and the world record fell on multiple occasions since then, as teams invest more in players.
Morgan hinted at another upcoming investment in women’s sports “soon” when he spoke with ESPN. This is his new life, one that traded his boots for the boardroom and his pitch for equity in sport.
Morgan is learning on the go day by day, but she knows one thing firsthand: “Listen, anyone who is smart is investing in women’s sports.”
