CrossFit is for sale again after years of changes
Don Faul, CrossFit’s CEO, stated in an email to gym owners on March 12 that “this moment of transition brings with it significant opportunity.” “I’m excited by the potential this holds for the future of our affiliate business and CrossFit overall.”
CrossFit was created in the 1990s by Greg Glassman, a former gymnast and personal trainer, as a training program focused on varied, high-intensity workouts. The regimen exploded in popularity in the 2000s, growing to include more than 14,000 affiliate gyms worldwide.
But those numbers have declined after a series of scandals and as other fitness fads gained appeal.
In 2020, Mr. Glassman stepped down from his role after he was excoriated for his comments about the murder of George Floyd. Glassman was also accused of sexual harassment. He denied the accusations. He sold the company in Boston to Berkshire Partners and Eric Roza, an entrepreneur and CrossFit gym operator. The company has also undergone a number of leadership changes since Mr. Glassman’s departure.
Then, last year, Lazar Dukic, a 28-year-old Serbian athlete, drowned during a swimming portion of a workout at the CrossFit Games, an international competition that draws some of the world’s fittest competitors. The Games resumed the next day.
CrossFit, deeply popular among military and law enforcement members who were its early fans, also partnered with the U.S. Border Patrol for the CrossFit Games, drawing some criticism. The partnership gained renewed attention this year as the Trump administration began to enact its border policies.
But many members and affiliates have tried to distance themselves from CrossFit’s reputation of recent years while still maintaining its popular fitness routines, dropping the company’s name from their businesses.
Registration for the CrossFit Open, where members around the world compete in the same workout for three weeks, is down 30 percent this year, to 234,000 participants from nearly 350,000 in 2024. The company licenses the name to gym owners and sells certifications for trainers. The number of gyms affiliated with CrossFit this year is just under 10,000. This is down from the peak of 14,000 in 2018 when the company generated $100 million in sales, and about $15 million in profit before tax according to financial documents examined by The Times’s DealBook. Since the CrossFit Games’ death, more than 1,400 CrossFit Gyms have canceled affiliation, while many have maintained the same fitness program. The company licenses its name to gym owners for an annual fee, and sells certification training to gym owners.
Berkshire raised affiliation fees from about $3,000 to $4,500 in 2024. The company also charges coaches for certification training in the CrossFit methodology, which accounts for more than a third of its sales, according to the financial documents.
Daniel Lynne, a co-owner of CrossFit Union Square in New York City, said he wasn’t surprised by the move to sell.
“It’s probably necessary given the amount of discontent in the space right now,” he said, pointing to low registration numbers for the CrossFit Open. Mr. Lynne said there has been little oversight over affiliate gyms, which he described as “both a blessing at times and a curse.” “We know who we are and what’s important to us. And every single member of our community needs to feel like they feel included and valued.”
But at the same time, he said, “I think there are some affiliates who really needed guidance or support in ways they just haven’t gotten it.”
In a recording of a town hall with CrossFit affiliates on Thursday obtained by The Times, Mr. Faul said a new owner would ideally be “someone with connection to our community,” adding that the sale was “the right thing for CrossFit” and “the right thing for our business.”
BeSport, a Swiss holding company, is the front-runner for a potential buyer, according to several people familiar with the deal. BeSport is a Swiss holding company that owns a number of sports and fitness brands, including Northern Spirit, partnered with CrossFit. It also owns the gym membership app, Hustle Up, and several other sports and fitness brands.
