Serena Williams could make another notable professional sports investment.

The tennis legend is already a minority owner of the Miami Dolphins, Angel City FC, and Los Angeles Golf Club. Last month, Williams joined the ownership team for the WNBA’s expansion franchise, the Toronto Tempo.

Williams is reportedly setting her sights on flag football.

Michael McCarthy of Front Office Sports reported that Williams and her husband, Reddit co-founder Alexis Ohanian, filed a bid to pursue ownership opportunities in the NFL’s planned flag football league.

Serena Williams' Group Among Investors Interested in NFL's Pro Flag Football League

The NFL is seeking backers for men’s and women’s flag football leagues. Flag football will debut as an event in the 2028 Summer Olympics in Los Angeles.

“Flag football is a high priority of ours. It’s an opportunity for young women to participate in our game … and as we look forward, there definitely seems to be an appetite and interest in a professional flag league for both men and women,” NFL EVP Jeff Miller told Front Office Sports last week. “So it’s a continuation of the growth in women’s sports, and the role that the NFL can play in it.”

Serena Williams at the ESPYs.

HOLLYWOOD, CALIFORNIA – JULY 11: Serena Williams speaks onstage during the 2024 ESPY Awards at Dolby Theatre on July 11, 2024 in Hollywood, California. (Photo by Frazer Harrison/Getty Images)

Frazer Harrison/Getty Images

On Sunday, Williams spoke alongside Eli Manning, Caitlin Clark, and Denver Broncos owner Mellody Hobson at the NFL Annual League Meeting. Their panel discussed the development and growth of women’s sports.

“Yesterday was a blur and all about the future of women at the annual NFL Annual Meeting,” Williams wrote in an Instagram post tagging Clark, Ohanian, and Manning. “I love [the] future of women, don’t you?”

An NFL spokesperson claimed that potential investors have expressed “enthusiasm” over buying into the flag football venture. The league will aim to land a new broadcasting deal from the start-up and hopes flag football can help grow the game’s global reach.

“It’s an entry point and the way we can scale our game. It’s girls and boys in schools,” NFL EVP of club business Peter O’Reilly said. “Since that Olympic announcement a couple of years ago, investment around the world in flag programs is huge. That obviously has a participation impact, but it also has a fandom impact in a very real way.”