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

Russell Greene 07-29-2012 12:14 AM

Re: Stop Anthos from Taking over CrossFit
 
Gus,
Greg Glassman will speak on this matter soon.

In the meantime, Russell Berger and I are speaking for CrossFit HQ. Please address any questions you have to us.

Dale F. Saran 07-29-2012 12:34 AM

Re: Stop Anthos from Taking over CrossFit
 
Ron - one of Anthos' managing partners, Bryan Kelly, spoke in a room full of people at last year's Regionals when he first aproached CF's leadership about acquiring an ownership stake. He asked me in front of at least 10 people for a copy of the Reebok in order to find "outs" in it, as well as to see "how much money [we] were leaving on the table." He made no secret of it and those conversations were not privileged. He also described in over 2 hours of detail how Anthos could 'help us' maximize revenue from the Affiliates. He was politely rejected. So, do you have any substantive objection to what's been said or are you just picking at nits?

Ron Wilhelm 07-29-2012 12:36 AM

Re: Stop Anthos from Taking over CrossFit
 
So you and Russell were both at the meetings?

Anthony Campo 07-29-2012 12:37 AM

Re: Stop Anthos from Taking over CrossFit
 
Quote:

Originally Posted by Brendan McNamar (Post 1081757)
If she wants to sell let us buy her out?

$20,000,000 when we all threaten to walk is a bit of a high valuation but I'm sure we can come to terms. 4,000 affiliates into $20,000,000 would be $5,000 an affiliate. Now let's say $10,000,000 is a fairer value for her stake that would bring it down to $2,500. What % does she own?

The real question is will Coach handle this in a mature manner. Get her bought out quickly at a reasonable price and let us go on about our business. Coach has a reputation for alienating people and burning bridges. This would be a bad time to do this.

Personally I would be very happy to buy a piece of HQ. I would be even happier if I was a voting share holder in HQ. I suspect a lot of affiliate owners would like a chance to own a piece of HQ particularly a voting piece. Then everyone interest are aligned.

Simply structure the deal so that if anyone wants to sell there share HQ and current share holder get what is call a right of first refusal. We get the first chance to buy any shares offered for sale. That way no one can accumulate enough shares to create this problem in the future.

When you have multiple owners in a company like this you need to create liquidity so they can cash out and do what ever they want with the proceeds. Otherwise you will get private deals like the one people are currently concerned about.

I see this as our best option. I believe we as CrossFitters and Affiliates have helped build CrossFit. Don't get me wrong CrossFit has done amazing things to better this movement. Coach Glassman and HQ have had a major part in helping all of us create a better life for our clients, other CrossFitters, and ourselves. I am eternally grateful.

When Coach and HQ decided to align with Reebok myself and other affiliates I had spoke with had reservations but it has worked out thus far. We are very fortunate Reebok gets us and how much we value our autonomy.

If the current information is true this looks not to be good.

I have sacrificed, suffered, and overcome a mountain of adversity to have a career I truly love. I believe I am living my essence and what I was meant to do by being a coach, CrossFitter, and Affiliate owner. I wish for this not to change. If it were change I believe I could recover but it wouldn't be the same.

I am fortunate to have experienced the early days of CrossFit. When the journal had articles on how to build your equipment with a quick trip to The Home Depot. When Affiliates in the same city would get together for a WOD and have a beer after. I believe its still in all of us.


I believe we should as affiliates work to better one another. I have for a while believed we should have an official alliance. Its main purpose would to be to better one another. We would support each together through continuing education in business, legal support, mentor new affiliates, and more. One other function would be to give a voice to each affiliate and to have a united voice of the affiliates. I have not stated this publicly because I didn't want to be looked at as a trouble maker. I don't say this time to start trouble but to bring to light the options we have. Case in point if we were to be already officially aligned we might have the organizational and financial resources to have a say in this manner.
Please understand, I don't mean for this option as one to regulate anyone else's affiliate. I truly believe in the structure of our current affiliate system. i believe in influencing through results not through regulation.

I willing to give my $5,000

Anthony Campo 07-29-2012 12:39 AM

Re: Stop Anthos from Taking over CrossFit
 
Thank you for keeping us in the loop.

James Hanley 07-29-2012 01:59 AM

Re: Stop Anthos from Taking over CrossFit
 
re: affiliates clubbing together to buy the stake... It is a VERY sensible option which would likely be repaid quite quickly.

I've no idea how profitable CF is as a brand, but presumably partial ownership conveys rights to profits. It would also be a nice way to award the "original" community that were around before it really took off - let the first 1,500 or whatever affiliates into the buy out, they get a portion of the overall profits and suddenly CF affiliates are getting what they're missing out most on - passive income.

Ron Wilhelm 07-29-2012 02:02 AM

Re: Stop Anthos from Taking over CrossFit
 
Quote:

Originally Posted by Dale F. Saran (Post 1081791)
Ron - one of Anthos' managing partners, Bryan Kelly, spoke in a room full of people at last year's Regionals when he first aproached CF's leadership about acquiring an ownership stake. He asked me in front of at least 10 people for a copy of the Reebok in order to find "outs" in it, as well as to see "how much money [we] were leaving on the table." He made no secret of it and those conversations were not privileged. He also described in over 2 hours of detail how Anthos could 'help us' maximize revenue from the Affiliates. He was politely rejected. So, do you have any substantive objection to what's been said or are you just picking at nits?

Just to be clear Dale, as chief legal council for CF HQ, you are OK with the statement: "In the meantime, Russell Berger and I are speaking for CrossFit HQ. Please address any questions you have to us."?

Well I guess since they keep cowardly keep referring to Lauren as "non-managing equity partner" they seek to avoid libel/slander laws, you're OK with it. As for this unnamed "Regionals" from last year, how many people from HQ actually read the Reebok contract, and how many of them weren't named/employed/related to Steve Weiss??!?!? 4 Words: "Reebok CrossFit National Championships". Tell me HQ was OK with the Euro national championships that were shown exclusively on EuroSport by a variety of commentators that couldn't even pronounce "WOD" correctly.

Ben Norris 07-29-2012 03:15 AM

Re: Stop Anthos from Taking over CrossFit
 
Let me enquire again.

What percentage of Crossfit does this "partner" own of Crossfit? Is it 50%?

Graeme Beath 07-29-2012 03:28 AM

Re: Stop Anthos from Taking over CrossFit
 
Ron

I have no idea why the line of questioning of HQ people relating their actual experiences. Do you have investments in Anthos?

James Hanley 07-29-2012 05:10 AM

Re: Stop Anthos from Taking over CrossFit
 
Quote:

Originally Posted by Graeme Beath (Post 1081811)
Ron

I have no idea why the line of questioning of HQ people relating their actual experiences. Do you have investments in Anthos?

I would guess he's looking for actual verbatim quotes rather than the "he said, she said" sort of thing that usually happens when people are naturally biased and try to skew facts when representing them to others!


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