View Single Post
Old 08-09-2012, 02:26 PM   #396
Russell Berger
CrossFit Staff Russell Berger is offline
Russell Berger's Avatar
Join Date: Jan 2008
Location: Santa Cruz  CA
Posts: 92
Re: Stop Anthos from Taking over CrossFit

The video in question is really easy to find. Putting your questions about it in this thread and asking us to weigh in is easy. Why is it so important that we allow you to include a link to what is obviously deceptive propaganda?

If you have a legitimate question about a claim this video makes post it here. Let's just start with the "better offer" claim Lauren makes. I've been given permission to publish our offers to Lauren. Here is the timeline from our accountant:

"December 13th meeting: Proposal was given to Lauren for $1.5M for 15 years My understanding was they would get back to Harvey in three weeks.

March, 2012
We all met in Harveys office and from there a letter was sent requesting a response to our offer made in December by April 16th.

April 16:
We received a counter proposal with three options. I had numerous discussions with Lauren and that we were leaning toward option one: $17.5MM over 5 Years Tax Free. Lauren seemed very pleased as this met with her objective to have a shorter payment schedule. THERE WAS NEVER A PROPOSAL THAT SHE DESIRED ALL CASH UP FRONT!

June 4th:
We countered with on Option one to ladder the payments each year as follows: $1.5M. $2.5M, $3.5M, $4.5M AND $5.5M for a total of $17.5M.

June 18th:
We received a rejection of that offer from Grace Park and also that the original three proposals were being withdrawn.

I later met with Lauren and asked why they didn't submit total cash payment upfront...her comment was we didn't think you would be able to come up with the cash. So will you take cash from us and she said no I can't due to the definitive agreement she signed with Anthos."

Note, all of our payments to her would have been TAX FREE. She is currently taking a payment of 20 million (that we would have gladly met to counter Anthos had we been given the chance) and her 20 million is subject to a 40% capital gains tax.

So if you still think this was just about the money...
  Reply With Quote