“Now the real work begins! I see an almost limitless opportunity for CrossFit® to become the world's leading platform for health, happiness and performance. As we work towards this incredible long-term opportunity, today I want to focus on hard work in addressing our challenges right now. ”
https://twitter.com/RozaEric/status/1286687603329241088
In this sentence, Eric Roza and Greg Glassman have signed a legally binding agreement in which none of the parties can withdraw from the negotiation (remembering that in the first part Roza had signed only one purchase contract).
Now just wait for the release of the government (Federal Trade Commission and the Department of Justice) which may take a few more weeks. Subsequently, the transfer of the amount and then the sale will be completed.
In the post, Roza revealed some details of the deal:
“I am happy to inform you that we have signed the final contract to purchase 100% of the CrossFit® brand belonging to Greg Glassman. I will join the acquisition of CrossFit® along with Berkshire Partners, a Boston-based investment firm, and will place 1% of the shares in a non-voting fund for Maggie Glassman and her children. We hope to close the transaction in the coming weeks, after receiving the final approval of the government ”.
Why the sales decision?
Given the events that occurred, it can be said that the decision to sell was pinch (made with three fingers) after the various ones mass disagreements caused by irresponsible words of Greg Glassman.
Even without actually taking over the management of CrossFit® Inc. in the past month, Roza has started a immediate change mainly on the subject of communication (a problem that many affiliates had already criticized).
With the purpose of improve the exchange of information Eric created communication channels to collect feedback and started making visits to the pits and gyms to listen to the community. He also clarified his intentions for Games 2020:
“We are working hard to offer secure and global CrossFit® Games in mid-September. We are working in close collaboration with our athletes, their agents and managers. In addition to the local and federal agencies so as to offer the largest physical fitness test in the world, and which will reach the homes and mobile screens of people all over the world, despite the challenges presented by the pandemic ".
Finally, Eric highlighted the problems that CrossFit® has faced and has not shied away from the responsibilities towards the community by guaranteeing immediate changes:
“We have created a mandate for CrossFit® to provide a culture of inclusion that works tirelessly to eliminate racism, sexism and prejudice; and the recognition that success in addressing these challenges will require that we all come together as part of the solution ”.
Do you think the new CrossFit® CEO will do a good job? We hope so! Become part of the largest community in Italy: CrossFitters! ????
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