CrossFit Discussion Board  

Go Back   CrossFit Discussion Board > Community > Community
CrossFit Home Forum Site Rules CrossFit FAQ Search Today's Posts Mark Forums Read

Community Catch all category for CrossFit community discussion.

Reply
 
Thread Tools
Old 07-29-2012, 02:42 PM   #91
Jason B Cox
Member Jason B Cox is offline
 
Jason B Cox's Avatar
 
Profile:
Join Date: Aug 2010
Location: Denver  CO
Posts: 44
Re: Stop Anthos from Taking over CrossFit

Thank you, Coach, for making a statement.
  Reply With Quote
Old 07-29-2012, 03:08 PM   #92
Brian Mulvaney
CrossFit Staff Brian Mulvaney is offline
 
Profile:
Join Date: Oct 2002
Location: Atlanta  GA
Posts: 475
Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Craig Howard View Post
Anthos' investors require a return on their investments. Anthos will challenge the Portfolio Manager for a return on the $20million investment. Anthos will not sit quietly allowing their $20m to ride on CF. This is NOT what they do
Precisely correct Craig. Private Equity firms don't make passive investments. Assertions to the contrary are rank nonsense. A Private Equity investment proposal absent a plan for management control is a complete non starter.

Wikipedia has some good material on the nature of Private Equity:

http://en.wikipedia.org/wiki/Private_equity

Typical private equity investment strategies include supplying growth capital and facilitating leveraged buyouts. Covert hostile takeover is NOT a typical private equity strategy.

Bryan Kelly of Anthos Capital actually does have a track record as a successful entrepreneur from well before he became a financier. It's one of the reasons we were willing to listen to his profoundly misguided notions on the proper business of CrossFit, Inc. Ironically, Bryan has no track record of success as a Private Equity investor. He is unlikely to have present or future success given his fundamental confusions over value creation and his aggressive use of short cuts. His engagement with the CrossFit owners has been nothing short of duplicitous: unethical at a minimum, and very likely illegal. I encourage him to take inspiration from every CrossFit Affiliate and return to the honest work of being an independent business owner free from outside capital and control.
  Reply With Quote
Old 07-29-2012, 03:11 PM   #93
Chris Sinagoga
Affiliate Chris Sinagoga is offline
 
Chris Sinagoga's Avatar
 
Profile:
Join Date: Jul 2006
Location: Madison Heights  MI
Posts: 362
Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Andrew Stemler View Post
I have trusted Greg and the head office staff since 2005. What ever they decide is Ok by me.
Agree 100%.
__________________
-formerly Chris S on main site. Now posts as Champions Club.
Champions Club/CrossFit Athletic Group (w/fs)
  Reply With Quote
Old 07-29-2012, 03:28 PM   #94
Skip Chase
Affiliate Skip Chase is offline
 
Skip Chase's Avatar
 
Profile:
Join Date: Aug 2005
Location: Mount Vernon  WA
Posts: 1,324
Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Chris Sinagoga View Post
Agree 100%.
Ditto.
I am going to continue to enjoy the rest of my weekend, have a restful night of sleep. In the morning, God willing, I will wake, jump out of bed, drive to the gym and once again, thank God that I discovered this thing called CrossFit. Coach said he would always protect and support the affiliate, and I believe him. I will do whatever I can, whenever I am asked to continue to support the affiliate community.
  Reply With Quote
Old 07-29-2012, 03:39 PM   #95
John Swanson
Affiliate John Swanson is offline
 
John Swanson's Avatar
 
Profile:
Join Date: Nov 2007
Location: St. Cloud  MN
Posts: 344
Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Brendan McNamar View Post
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.

This was the exact thought that came to my mind. Why not let us have a chance to really buy in?
__________________
CrossFit Fast Factory | www.crossfitfastfactory.com
  Reply With Quote
Old 07-29-2012, 03:41 PM   #96
Russell Berger
CrossFit Staff Russell Berger is offline
 
Russell Berger's Avatar
 
Profile:
Join Date: Jan 2008
Location: Santa Cruz  CA
Posts: 92
Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by John Swanson View Post
This was the exact thought that came to my mind. Why not let us have a chance to really buy in?
John,
Greg's partner began this with a far better offer from us... Sadly her motivation appears to be something other than money. If it were that simple this would be over.
  Reply With Quote
Old 07-29-2012, 03:42 PM   #97
Brian Mulvaney
CrossFit Staff Brian Mulvaney is offline
 
Profile:
Join Date: Oct 2002
Location: Atlanta  GA
Posts: 475
Re: Stop Anthos from Taking over CrossFit

Skip:

I had the good fortune recently of running into a young lady at your local Five Guys burger. She looked at my CF shirt, smiled, and asked, "Are you people allowed to eat here?" She then proceeded to tell me that her parents are devoted members of your gym and that her dad has lost over one hundred fifty pounds and her mom over one hundred pounds and that their lives have been remade.

You couldn't do anything more important, sir, than continue the ongoing miracle of a difference you make for your members.

Last edited by Brian Mulvaney : 07-29-2012 at 03:46 PM.
  Reply With Quote
Old 07-29-2012, 03:45 PM   #98
Russell Berger
CrossFit Staff Russell Berger is offline
 
Russell Berger's Avatar
 
Profile:
Join Date: Jan 2008
Location: Santa Cruz  CA
Posts: 92
Re: Stop Anthos from Taking over CrossFit

John,

Also, I think you should think through the proposition in that quote you provided. The CrossFit Affiliate system, which is based on the freedom and independence of Affiliates who are allies in spirit and yet almost all diverge in approach, method, and business model, would be just as threatened by your proposition as any other interest looking for standardization and control (external and internal alike). CrossFit will not allow this, and will fight to preserve the model that has brought us such success.
  Reply With Quote
Old 07-29-2012, 03:47 PM   #99
Richard D Thompson
Affiliate Richard D Thompson is offline
 
Richard D Thompson's Avatar
 
Profile:
Join Date: Feb 2009
Location: Peachtree City  GA
Posts: 23
Re: Stop Anthos from Taking over CrossFit

Thanks Russ/Russ and most importantly Coach. It was also good to read Lauren's post. I haven't been on these boards for quite a while. Shot over here from FB...today...good to see some of the old guard posts. My prayer is that this gets resolved off the boards. I am "all in" as an affiliate. If we have to drop the CF in our name to retain independence that will be tough, but we will. I assume that our membership will continue, and we will grow the biz...but in truth, we are CrossFitters.

BTW...we just cleaned the bathrooms, and the floors, and the bars and just about everything else.
  Reply With Quote
Old 07-29-2012, 04:27 PM   #100
Jamie Gowens
Member Jamie Gowens is offline
 
Profile:
Join Date: Feb 2010
Location: Arlington  TX
Posts: 537
Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Russell Berger View Post
John,

Also, I think you should think through the proposition in that quote you provided. The CrossFit Affiliate system, which is based on the freedom and independence of Affiliates who are allies in spirit and yet almost all diverge in approach, method, and business model, would be just as threatened by your proposition as any other interest looking for standardization and control (external and internal alike). CrossFit will not allow this, and will fight to preserve the model that has brought us such success.
What would be defined as a suitable partner?
  Reply With Quote
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Taking Heat For Crossfit Chris Vaughn Starting 26 05-15-2011 02:30 PM
One Stop Shopping/CrossFit Starter Package Ahmik Jones Equipment 1 05-14-2007 01:59 PM
Taking a break from crossfit Chris Sinagoga Injuries 9 09-15-2006 04:13 PM
Ruthless/Crossfit in Virginia is taking over the local press! Irena Bradley Community 4 07-30-2006 03:47 PM


All times are GMT -7. The time now is 06:37 PM.


Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
CrossFit is a registered trademark of CrossFit Inc.