CrossFit dodged a corporate buy-out on Wednesday when founder Greg Glassman struck a deal to buy his estranged wife's share of the popular fitness brand. A divorce court in Arizona ruled earlier this month that Glassman had until November 15 to match Anthos Capital's offer for Lauren Glassman's half of CrossFit. At the last minute, growth equity firm Summit Partners loaned Greg Glassman slightly over $16 million to close the deal. "This was a harrowing experience that pulled critical staff from their normal duties for six months and cost millions of dollars in legal fees," Greg Glassman said in a post.
Support Outside Online
Our mission to inspire readers to get outside has never been more critical. In recent years, Outside Online has reported on groundbreaking research linking time in nature to improved mental and physical health, and we’ve kept you informed about the unprecedented threats to America’s public lands. Our rigorous coverage helps spark important debates about wellness and travel and adventure, and it provides readers an accessible gateway to new outdoor passions. Time outside is essential—and we can help you make the most of it. Making a financial contribution to Outside Online only takes a few minutes and will ensure we can continue supplying the trailblazing, informative journalism that readers like you depend on. We hope you’ll support us. Thank you.