In the light of neutrality, let’s see where this goes. CFHQ is working out some things. It would seem that Lauren Jenai-Glassman, Greg Glassman’s ex-wife is looking to sell her half of CFHQ. Posted below are responses from Greg Glassman, Founder and CEO of CrossFit, Inc, Lauren Jenai-Glassman, and Anthos, the investment company involved. The first link is to a message thread on CrossFit.com’s forum. I leave it to all of you to develop your own opinions.
Greg Glassman via CrossFit Forum
The existential threat to affiliates resides in the $20,000,000 desire to control them. Bryan Kelly made the Anthos intent painfully clear to a room full of CF Staff Tuesday May 10, 2011, from 6:30-7:00 pm in the Tony Gwynn suite at the Omni Hotel in San Diego, California. Jeff and Miki Martin, Dave Castro, Brian Mulvaney, Karianne Dickson, Dale Saran, Tony Blauer, and I were present. There, Bryan Kelly explained in clear and concise terms that we were leaving billions of dollars on the table with our current affiliate relationship. We all remember lines like, “Every time I go into GNC, you are losing money”. The talk, and several of us have heard it several times and on two coasts, revolved around “money left on the table”. We are well acquainted with the Anthos plan and Bryan Kelly’s intent. We’ve been preparing for this for almost a year.
Make no mistake about it, Anthos wants an equity share of CF in order to gain control of the affiliates. I stand squarely in the way. From the start, our promise to the affiliates has been to minimize rent extraction while providing the best education, protection, and brand development possible. Bryan Kelly sees 4,000 independently owned and operated gyms as 4,000 potential points of sale. The Anthos approach is short-term, rapacious, dishonest, entirely destructive of our culture, and toxic to the affiliates.
Anthos will NOT end up with an equity share in CrossFit. They’re holding a losing hand and will eventually come to terms with that fact. I’m honored to fight this fight and consider the opportunity and responsibility to lead the affiliates as the most significant facet of my life. None of it is for sale – at any price. I don’t care what this costs or how long it takes, we will keep our affiliates free.
5-5-5 (Add 5-10# from last week)