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-   -   Stop Anthos from Taking over CrossFit (http://board.crossfit.com/showthread.php?t=76936)

Steve Wingate 07-28-2012 09:05 PM

Re: Stop Anthos from Taking over CrossFit
 
Seems to me this was an eventual inevitability the moment Greg or whoever first brought in a non-managing partner. You agree to give up something to somebody once you accept their money.

It's not much different from a dotcom going public and no longer following the vision the original creator envisioned.

Brendan McNamar 07-28-2012 09:16 PM

Re: Stop Anthos from Taking over CrossFit
 
I'm sure Reebok could come up with cash/loan to help Coach buy her out if he wants to go that way.

There are a lot of intelligent ways to handle this besides mass un-affiliation which hurts us all.

Of course all of the good answers involve paying her a fair price for her holdings.

Which I might remind everyone US courts have up held and protected the spouses rights for their contributions during the marriage in these situations over and over. She has a right to sell.

Steve Wingate 07-28-2012 09:24 PM

Re: Stop Anthos from Taking over CrossFit
 
Is this the result of a husband/wife thing? I hope I didn't speak out of turn.

Ben Norris 07-28-2012 09:45 PM

Re: Stop Anthos from Taking over CrossFit
 
Quote:

Originally Posted by Russell Berger (Post 1081740)
Ben,
Good questions. Greg Glassman is the CEO and president of CrossFit. His non-managing equity partner has left the gate open, and now we have a wolf to deal with in the form of Anthos. Anthos is not offering to buy Greg's ownership but his partner's ownership of the company. This would result in Anthos as a partner in CrossFit Inc.

What percentage of Crossfit does this unnamed person own? If Greg Glassman holds the largest percentage of ownership then Anthos can buy out the unnamed person yet still not change a god dam thing.

I agree with all others in this thread. Greg Glassman needs to contact EVERY single affiliate and let them know the situation IN DETAIL. This way we can mobilise not just as 3000 odd thousand affliliates but the millions of members of afformentioned affiliates who would ensure that Anthos is wasting time and money.

Joey Powell 07-28-2012 10:01 PM

Re: Stop Anthos from Taking over CrossFit
 
posted in Affiliate forum.

Katherine Derbyshire 07-28-2012 10:10 PM

Re: Stop Anthos from Taking over CrossFit
 
Quote:

Originally Posted by Steve Wingate (Post 1081759)
Seems to me this was an eventual inevitability the moment Greg or whoever first brought in a non-managing partner. You agree to give up something to somebody once you accept their money.

It's not much different from a dotcom going public and no longer following the vision the original creator envisioned.

Looks that way to me, too. If you want to maintain control of the company, you have to maintain ownership as well. People who have equity have a right to do what they want with it, including selling it to the highest bidder.

The solution is not to threaten to devalue the asset, it's to find a partner with equally deep pockets whose vision matches yours.

Katherine

Katherine Derbyshire 07-28-2012 10:15 PM

Re: Stop Anthos from Taking over CrossFit
 
Quote:

Originally Posted by Russell Greene (Post 1081697)
I have some important news for you. Anthos Capital wants to take control of the CrossFit affiliate system. Anthos is offering $20 million to a non-managing equity partner of CrossFit Inc. in order to establish a managing stake in the company. This is important because Anthos does not view CrossFit affiliates the way we all do. Anthos doesn't care about professional trainers improving people's lives; they see CrossFit affiliates as a mechanism to sell more supplements and equipment.

If they succeed, Anthos's first step will be to force all CrossFit affiliates to morph from professional training facilities into supplement and equipment peddlers. In that case, affiliates will lose the right to choose between an array of competing brands such as Rogue, Again Faster, SFH, and Pure Pharma. Affiliates will be forced to sell the Anthos company's endorsed line of products.

And the evidence for this claim is? They're an investment firm: why wouldn't they be willing to stand back and let a model that's working continue to work?

Katherine

Russell Greene 07-28-2012 10:26 PM

Re: Stop Anthos from Taking over CrossFit
 
Quote:

Originally Posted by Katherine Derbyshire (Post 1081776)
And the evidence for this claim is? They're an investment firm: why wouldn't they be willing to stand back and let a model that's working continue to work?

Katherine

Katherine,

Anthos told CrossFit HQ exactly what their plans were and made multiple attempts to get Greg to sign off on them. Greg and the rest of CrossFit HQ politely declined, then Anthos went and made an offer to the aforementioned non-managing equity partner.

Ron Wilhelm 07-28-2012 10:29 PM

Re: Stop Anthos from Taking over CrossFit
 
And you were at those meetings Russell?

Gus Baldwin 07-28-2012 11:53 PM

Re: Stop Anthos from Taking over CrossFit
 
A "Brand" is only as good as its clients / customers loyalty.

Coach needs to tell us whats going on and we will send a clear message, if need be.

Simple as that.

It's up to Greg.

Gus


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