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Old 08-08-2012, 01:49 PM   #1
Russell Berger
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Bryan Kelly / Anthos Hire Wall-street PR Firm

Over a week ago we learned that Lauren Jenai Glassman is attempting to sell her stake in CrossFit Inc. to Bryan Kelly and Paul Farr of Anthos Capital.

Since then, CrossFit’s founder, staff, Affiliates, and many top athletes have formally rejected Bryan Kelly and his plans. He has never successfully articulated why we need him, and has never explained why Lauren's reasons for selling her stake so obviously contradict his own is statements.

We have recently learned that in an attempt to save his public image in the eyes of the CrossFit community, Bryan Kelly has hired a company called Broadgate Consultants, a firm that provides "strategic corporate and communications advisory services to private equity firms and their portfolio companies."

http://www.broadgate.com (WFS)

In other words, Bryan Kelly and Anthos seem to believe they need a professional PR consultant to show them how to answer the simple questions our Affiliates are asking...or at least how to continue avoiding them. This is just another example of how profoundly Bryan Kelly misunderstands our community and a sign of what we can expect from Anthos should they win ownership of our Company.

Go check out Broadgate's Twitter feed to watch as they follow CrossFitters. We must admit, it's smart of Broadgate to do their homework. Maybe Anthos should have done the same.

https://twitter.com/broadgate. (WFS)

Last edited by Russell Berger; 08-08-2012 at 01:53 PM.. Reason: removed extra spacing
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Old 08-08-2012, 03:34 PM   #2
Richard Vanmeerbeek
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

Laughable!
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Old 08-08-2012, 04:37 PM   #3
Thomas Davenport
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

Quote:
Originally Posted by Russell Berger View Post
Over a week ago we learned that Lauren Jenai Glassman is attempting to sell her stake in CrossFit Inc. to Bryan Kelly and Paul Farr of Anthos Capital.

Since then, CrossFit’s founder, staff, Affiliates, and many top athletes have formally rejected Bryan Kelly and his plans. He has never successfully articulated why we need him, and has never explained why Lauren's reasons for selling her stake so obviously contradict his own is statements.
You suggest that a prospective investor is under some sort of obligation to tell others why the company in which he is investing "needs" him as an investor. Where does this come from? Just because Intel doesn't need me as an investor doesn't mean I shouldn't be able to invest in it, does it?

Based on HQ's track record to date, it is reasonable to assume that HQ can and will continue to thrive without VC funding. That fact does not preclude a willing investor from purchasing shares from a willing seller.

To point out that HQ is a small closely held company does not answer the question. No shareholder is under any obligation to show that he, she or it can add value, unless a shareholders' agreement exists to require it.
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Old 08-08-2012, 04:48 PM   #4
Phillip Kerr
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

Honestly if they need to hire a PR firm to try to win us crossfitters over I think they should throw up a redflag with any crossfitter whos being following the situation. I think by them hiring a PR firm has even further ruined their reputation with us. To me it does atleast.
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Old 08-08-2012, 05:19 PM   #5
Russell Greene
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

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Originally Posted by Thomas Davenport View Post
You suggest that a prospective investor is under some sort of obligation to tell others why the company in which he is investing "needs" him as an investor. Where does this come from? Just because Intel doesn't need me as an investor doesn't mean I shouldn't be able to invest in it, does it?

Based on HQ's track record to date, it is reasonable to assume that HQ can and will continue to thrive without VC funding. That fact does not preclude a willing investor from purchasing shares from a willing seller.

To point out that HQ is a small closely held company does not answer the question. No shareholder is under any obligation to show that he, she or it can add value, unless a shareholders' agreement exists to require it.
I'm not a lawyer, but you may be correct that Bryan Kelly does not have a legal obligation to explain himself to the CrossFit community. From what I've heard from most CrossFit affiliates, however, he does have a moral obligation to explain his position to them.

There are over 4,400 independently owned and operated licensed CrossFit affiliates. According to Bryan Kelly's previous statements, he plans to make dramatic changes to CrossFit HQ's relationship with the affiliates. Therefore, affiliates certainly have good reason to ask Bryan Kelly questions.

Below are two of the issues that Kelly has not been fully open with the affiliates about. I doubt that his new PR firm will encourage Kelly to address these issues openly, either.

1. Anthos' Relationship with CrossFit HQ:
Kelly has stated that he plans to be "hands-off" and leave important decisions to Greg. Apparently, those apparent decisions don't include whether or not Kelly should have anything to do with CrossFit HQ, since Greg Glassman vehemently opposes working with him.

Furthermore, Kelly's claim that he will not intervene much is in direct contradiction with Lauren's statement that "it has long been my contention that CrossFit is in need of more professional management, corporate structure and accountability."

2. Anthos' Need to Control CrossFit in order to Sell Products
If Kelly plans to make money by selling stuff to the affiliates, why does he need control of CrossFit HQ? Rogue and Again Faster don't. For what purpose does Kelly need the power of controlling CrossFit HQ? Why can't he simply create an independent company that affiliates will have the choice to purchase from, or not?
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Old 08-08-2012, 05:40 PM   #6
Thomas Davenport
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

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From what I've heard from most CrossFit affiliates, however, he does have a moral obligation to explain his position to them.
I don't see how the fact that most affiliates want this explanation creates a moral obligation on his part to provide it.

Quote:
Originally Posted by Russell Greene View Post

There are over 4,400 independently owned and operated licensed CrossFit affiliates. According to Bryan Kelly's previous statements, he plans to make dramatic changes to CrossFit HQ's relationship with the affiliates. Therefore, affiliates certainly have good reason to ask Bryan Kelly questions.
Actually, Kelly's statements are largely that he'll be hands off. I don't blame you for skepticism on that point, but based on what has been publicly stated that seems to be the case.

Quote:
Originally Posted by Russell Greene View Post

1. Anthos' Relationship with CrossFit HQ:
Kelly has stated that he plans to be "hands-off" and leave important decisions to Greg. Apparently, those apparent decisions don't include whether or not Kelly should have anything to do with CrossFit HQ, since Greg Glassman vehemently opposes working with him.

Furthermore, Kelly's claim that he will not intervene much is in direct contradiction with Lauren's statement that "it has long been my contention that CrossFit is in need of more professional management, corporate structure and accountability."
Just because Mrs. Glassman thinks that Crossfit needs this, doesn't mean that Kelly agrees with her. Isn't it likely the case that if/when he is able to inspect he books and get his hands around how things operate he would disagree entirely with Mrs. Glassman? Are you suggesting that Crossfit is not run professionally?


Quote:
Originally Posted by Russell Greene View Post

2. Anthos' Need to Control CrossFit in order to Sell Products
If Kelly plans to make money by selling stuff to the affiliates, why does he need control of CrossFit HQ? Rogue and Again Faster don't. For what purpose does Kelly need the power of controlling CrossFit HQ?
Kelly hasn't said publicly that he intends to do this. More importantly, and you know this, he is NOT obtaining control of Crossfit HQ. He is only obtaining 50% ownership.

Look, I have every confidence that your intentions are pure here: Protecting the affiliate model, allowing them to thrive with minimal intrusion, and thereby ensuring the Crossfit movement can continue to disseminate as it has. I just think you are going about it the wrong way with a populist approach that is beneath your organization.

Last edited by Thomas Davenport; 08-08-2012 at 05:43 PM..
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Old 08-08-2012, 05:59 PM   #7
John Mallon
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

New to this forum. I've been following some discussions and though it seems that Anthos presents some kind of threat to Crossfit as we know it, I'm confused as to what those of us outside of HQ can do.

I'm particularly confused by one particular statement, from the counterclaims by Crossfit, Inc. against Lauren Glassman, posted here (safe for work): https://dl.dropbox.com/u/12483097/50...Aug-8-2012.pdf

2. Plaintiff [Mrs. Glassman] and Mr. Glassman jointly own 100 percent of the shares of CrossFit as community property. Neither can sell any portion of those shares without the other’s consent or a court order.

I think it's safe to assume that Mr. Glassman has no intention of selling his shares, nor would he consent to Mrs. Glassman selling hers. That suggests that the only other variable preventing Anthos' acquisition of Mrs. Glassman's shares is a court order.

So why all the hubbub in the court of public opinion? Is there something we can do to prevent a court order from being issued?
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Old 08-08-2012, 06:07 PM   #8
Daniel Wheeler
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

Watch out for those broadgate board infiltrators.

But anyway...more money=a bigger CF community.

Reebok made the games prize 250 g's. If CF wants to get serious and compete with the big boys why not let bryan start the National Crossfit League?
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Old 08-08-2012, 07:20 PM   #9
Frank E Morel
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

Quote:
Originally Posted by Daniel Wheeler View Post
Watch out for those broadgate board infiltrators.

But anyway...more money=a bigger CF community.

Reebok made the games prize 250 g's. If CF wants to get serious and compete with the big boys why not let bryan start the National Crossfit League?
Cause I think this has to do with divorcing spouses.
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Old 08-08-2012, 08:31 PM   #10
Dan L Miller
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Re: Bryan Kelly / Anthos Hire Wall-street PR Firm

Cant you just ask all the affiliates who would stay and who would go? That would make me change my mind about investing. It seems stupid to invest in a company that has no affiliates once it gets here. Our affiliate would leave for sure. Anthos cant be that great of an investment company.
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