The contract to sell CrossFit to Eric Roza is signed. He and Berkshire Partners, a Boston-based investment firm, completed the transaction on July 24th, 2020. Here is the official announcement on Twitter:
To help reading the announcement I converted the images to text:
The Hard Work of CrossFit…
At CrossFit, every day we learn the value of hard work, resilience, and shared sacrifice towards a common goal.
Following a month of hard work by several dozen individuals on our respective deal teams, I’m delighted to report we have signed the final contract to purchase 100% of CrossFit from Greg Glassman. I will be joined in acquiring CrossFit by Berkshire Partners, a Boston-based investment firm, and we will be putting 1% of the stock into a non-voting trust for Maggie Glassman and their kids. We expect to close the transaction in the next few weeks, following the receipt of final government approval. Now the real work begins!
I see a nearly boundless opportunity for CrossFit to become the world’s leading platform for Health, Happiness and Performance. As we work towards this amazing long-term opportunity, today | want to focus on the hard work of addressing our immediate challenges.
To this end, my team and | have spoken directly with hundreds of folks, and we’ve
received and read emails and social posts from thousands of others across the global community over the past month. Thank you for your candor, well-wishes, great ideas, and tough love.
The consistent themes have been a profound belief in the unparalleled power of
CrossFit to change lives; a mandate that CrossFit provide a culture of inclusion that works tirelessly to eliminate racism, sexism, and bias; and a recognition that success in tackling these challenges will require us all to come together as part of the solution.
Through the dialogue, the team and I have become acutely aware of the alienation and dissonance felt by a number of current, former, and potential members of our community. I’ve heard your message loud and clear: Change is needed and we must think and act out of the box to reach those who don’t feel welcomed by CrossFit.
At the same time, COVID-19, has created unprecedented challenges in our community. Nearly 100,000 people around the world make their livelihood through CrossFit, supporting several million others for whom CrossFit is the best hour of the day. We must think and act in the box to help our Affiliates survive and thrive through a resurgent global pandemic with devastating social, economic, and health consequences of indeterminate duration and severity.
Finally, we are working hard to deliver a safe and global CrossFit Games in mid-September. We are partnering closely with our Athletes, their agents and managers, and local and federal agencies to deliver the world’s greatest test of fitness to living rooms and mobile screens around the world in spite of the challenges presented by the pandemic.
I will be holding a Community Town Hall in mid-August to update you with specifics on our work on Culture, Inclusion, Affiliate Support, and the 2020 Games.
Thank you for the warm welcome and for your partnership in the hard work ahead.
Here is the announcement on instagram:
If you spot a mistake or if you feel like one of the points need more clarification, make sure to get in contact.