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 11-16-2012, 12:10 PM   #721
Steve Liberati
Affiliate Steve Liberati is offline
 
Steve Liberati's Avatar
 
Profile:
Join Date: Jan 2006
Location: Pennsauken  NJ
Posts: 1,649
Re: Stop Anthos from Taking over CrossFit

Thank God.
  Reply With Quote
Old 11-16-2012, 12:11 PM   #722
Rene Forestier
Affiliate Rene Forestier is offline
 
Rene Forestier's Avatar
 
Profile:
Join Date: Sep 2007
Location: Ottawa  ON
Posts: 701
Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Coach View Post
As of yesterday morning I own 100% of CrossFit Inc. stock.

I want to thank my staff, our lawyers, the affiliates, and the entire CF community for rallying to our common defense.

This was a harrowing experience that pulled critical staff from their normal duties for six months and cost millions of dollars in legal fees.

Staffers not enjoined directly in the battle kept at the helm and grew the company to absorb all of our legal fees and we paid cash for the airplane. Today we stand in the best financial shape in company history.
Thank f**k! Thanks to you, Coach, and your staff for fighting the good fight!
  Reply With Quote
Old 11-16-2012, 10:31 PM   #723
Matthew Vesey
Member Matthew Vesey is offline
 
Matthew Vesey's Avatar
 
Profile:
Join Date: Sep 2009
Location: Ottawa  ON Canada
Posts: 640
Re: Stop Anthos from Taking over CrossFit

Good to hear!
__________________
Age:24, Height: 5'10, Weight: 180, 5km Row: 17:15.3, 500m Row:1:23.6, BS: 440, DL:540, Press: 205:My Log(WFS)
  Reply With Quote
Old 11-27-2012, 06:38 PM   #724
Russell Greene
CrossFit Staff Russell Greene is offline
 
Profile:
Join Date: Mar 2007
Location: Santa Cruz  CA
Posts: 264
Re: Stop Anthos from Taking over CrossFit

A few months ago, we learned that CrossFit faced a hostile takeover by a firm with billionaire founders and millions to spend in legal battles. Against the will of every member of CrossFit Inc. and the CrossFit Affiliate community at large, Bryan Kelly and Anthos Capital made it clear they wanted a piece of the CrossFit pie.

Early on, Bryan Kelly set out on a course of unethical and potentially illegal tactics in order to own something he could never honestly buy. While he attempted to pass these tactics off as “business as usual”, it was eventually clear to the Yavapai County court that CrossFit should have the right to attempt to match Anthos’ offer to Lauren, and on November 2nd, the Hon. Kenton Jones granted that right, giving CrossFit less than two weeks to produce nearly 20 million dollars.

Many expected that CrossFit would fail to so quickly gather the funds needed to purchase Lauren’s share. They were wrong. Not only did CrossFit secure a loan for the purchase, but it gave up absolutely no equity in the process. On November 14th, CrossFit bought Lauren's share of the company. This story ends with CrossFit's Founder and CEO Greg Glassman owning 100% of CrossFit, Inc.

This part of the story is now broadly known, but what isn’t as well known is that CrossFit could not have maintained full control of the company without the direct support of CrossFit affiliates and their members.

The loan used to purchase Lauren’s share of CrossFit came from a group known as Summit Partners, specifically from a fund managed by a member of CrossFit Southie.

CrossFit was represented in this deal with Summit by a member of the prestigious New York law firm Latham & Watkins, who also happens to be a member of CrossFit Empire State. Prior to the loan from Summit, a number of other individual CrossFitters offered to loan CrossFit the needed funs to maintain control of the company.

We won because when Anthos pushed on the CrossFit community, very powerful CrossFit affiliate members in our ranks pushed back harder. Bryan Kelly likely never imagined he would find himself legally and financially outmaneuvered by such a small company, but he’s likely left feeling like a victim of the Illuminati.

Perhaps we can all learn a valuable lesson from Bryan Kelly. He is the embodiment of what we reject. Even with all of his ethically and legally questionable actions, the trait that best defines Bryan Kelly is his commitment to rent-seeking- the pursuit of profit absent the creation of new value.

In many ways, Bryan Kelly can serve as a model of what we are not. CrossFit is committed to the pursuit of excellence. As Greg Glassman has said before, excellence generates wealth. Bryan Kelly’s pipe dreams of using CrossFit HQ’s leverage to extract revenue from Affiliates is the antithesis of the excellence model.

To the rest of the world, the message is clear. CrossFit and its over 5,000 independently-owned and -operated affiliates are not to be messed with. We are fanatically committed to the pursuit of excellence. And we will not accept outside intervention in our business(es).

Anthos tried, and failed.
  Reply With Quote
Old 11-27-2012, 07:11 PM   #725
Nathan Holmes
Member Nathan Holmes is offline
 
Profile:
Join Date: Jun 2012
Location: San Marcos  CA
Posts: 190
Re: Stop Anthos from Taking over CrossFit

I love CrossFit, it's affiliates, and the impact that CrossFit has on people's daily lives (including my own).

That said, I am embarrassed by this post. Why stoop to this level? I would have liked to have seen HQ and us, the CrossFit community, accept the victory with grace and class. This is neither grace nor class. This is petty, vindictive, and unprofessional. There is a time and place for expressing these kinds of feelings; in private and in person. It is too bad that such a great outcome has been marred by such an ill-advised gloating rant.

Last edited by Nathan Holmes : 11-27-2012 at 07:20 PM.
  Reply With Quote
Old 11-27-2012, 07:18 PM   #726
Jeff Enge
Banned Jeff Enge is offline
 
Profile:
Join Date: Jun 2012
Location: Collinsville  IL
Posts: 5,542
Re: Stop Anthos from Taking over CrossFit

^ This.
  Reply With Quote
Old 11-27-2012, 08:56 PM   #727
Russell Greene
CrossFit Staff Russell Greene is offline
 
Profile:
Join Date: Mar 2007
Location: Santa Cruz  CA
Posts: 264
Re: Stop Anthos from Taking over CrossFit

It's too bad that my description of CrossFit's victory - and Anthos' lost, upsets you.

Do you disagree with my account of what happened, or do the facts simply leave you ill at ease?

One more question:
A guy suggests that CrossFit rewrite the affiliate contract so that the affiliates have to buy their t-shirts from CrossFit HQ. Does that make CrossFit a more effective fitness program? Does it help the affiliates provide more value to their customers? How would you describe this behavior?
  Reply With Quote
Old 11-27-2012, 09:03 PM   #728
James Cusick
Affiliate James Cusick is offline
 
Profile:
Join Date: Mar 2008
Location: Sugar Land  TX
Posts: 15
Re: Stop Anthos from Taking over CrossFit

I thought the post from Russell was awesome. Loved the insight! Thanks for sharing.
  Reply With Quote
Old 11-27-2012, 09:45 PM   #729
Matt Thomas
Banned Matt Thomas is offline
 
Profile:
Join Date: Jan 2006
Location: Orlando  FL
Posts: 3,648
Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Russell Greene View Post
One more question:
A guy suggests that CrossFit rewrite the affiliate contract so that the affiliates have to buy their t-shirts from CrossFit HQ. Does that make CrossFit a more effective fitness program? Does it help the affiliates provide more value to their customers? How would you describe this behavior?
I describe it as a business idea?

I don't think it's a good idea, but I certainly don't see it as unethical. Sounds like someone who is just trying to find ways to maximize profits. Again, maybe not a good idea for the CF community, but it's not wrong in some moral way...
  Reply With Quote
Old 11-27-2012, 10:44 PM   #730
Mark E. Wallace
Member Mark E. Wallace is offline
 
Mark E. Wallace's Avatar
 
Profile:
Join Date: Apr 2008
Location: Cedar Park  TX
Posts: 3,869
Re: Stop Anthos from Taking over CrossFit

I agree with Nathan.

I think CF would have been much better served with a simple statement of the facts and telling of the story.

Take your win and leave the field victorious. If you want to celebrate (which you should), do it in the locker room. Thumbing your nose at the vanquished is unnecessary and unprofessional, which should ALSO be the embodiment of what you reject.

- Mark
__________________
"Ima champ Still pushin Strong, Remember You only get what you train FOR>"
Snarky answers -- Free of charge.
  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 07:10 PM.


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