Kind of surprised that lawyer man is talking about this publicly, but it's interesting and, uh, to me suggests that Greg reaching out to the community like this (he reached out first) is kind of a misstep.
I've remained purposefully quiet, both out of legal duty and respect for both of the people involved, Greg and Lauren. As CrossFit, Inc.'s lawyer, I owe the same fiduciary duty to both Greg and Lauren - and my charter is also to represent this amazing company. With that in mind, Daniel, I think it important to correct the implicit assumptions in your claims here - both legal and factual. There is no "deliberate attempt to devalue" the company - your claim asserts what it is trying to prove. First, how is it that anything here has "devalued" the company? And from whose perspective? Look, Lauren and Greg own the stock jointly, not as separate shares. Thus, neither can sell their interest without a court (in this case, the divorce court) intervening to make a determination about value and what the respective parties' interests are worth. Lauren wants to sell her shares to a specific partner, but that affects the other party's remainder after the putative division and sale. The same would be true if Greg wanted to sell his interest (purely hypothetically) to Reebok over Lauren's objection. Whoever 'gets out' first is arguably harming what remains if they get to name a new (and unwanted) partner in their wake for the remaining party to have to work with as co-equal owner.
Anthos has nothing but a conditional promise from Lauren - they know this because if she could sell her shares without a court decree, it would already be done. Arguably, Anthos announcing that it had a "definitive" agreement violated the TRO in place in the divorce case and harmed CF, Inc.'s position with respect to existing and potential business partners. This is, to put it mildly, a messy situation. Lauren has an absolute right to 'cash out' in the context of the divorce settlement and she has my fullest support of her right. Equally compelling is Greg's right to try to buy that interest and maintain his ownership and not take on a partner with whom he has already had dealings and found wanting in many respects as a business partner - both in thought and deed. (Continued in Part 2).
Part 2:
CrossFit, Inc., itself has a very, very compelling interest in trying continue on the trajectory it has been on under Greg's unquestioned leadership for these past years and any new owner would present a degree of uncertainty that makes businesses 'nervous.' Concerns about visions for the company by an untested partner - who has made very public statements about how CF, Inc. should be run in order to maximize revenue - have come to light because of the unique structure of CF's business model that has fueled this growth. Greg has always felt that the affiliates are partners and CF HQ the stewards and protectors of the CrossFit Brand - there's a compelling case that the proposed "(in)definite agreement" ought to be told to business partners - so here we all are.
Ultimately, this is going to get aired in court or courts, probably more than one, and lawyers and representatives for all concerned parties are going to make their respective cases. In the meantime, both sides are trying to "win the hearts and minds" because - if it's not obvious - the lifeblood of CrossFit (the movement and the economic machine) is the Affiliates. The Affiliates could, if they wanted, up and leave en masse tomorrow and associate themselves with a new brand - and leave behind CrossFit, Inc. That has always been the magic here: the affiliates voluntarily entered into this relationship as independent business owners based upon their belief in the strength of CrossFit, the physiology, and CrossFit®, the brand. It's an entirely voluntary transaction. Part of this also includes a belief in the leadership if the man who created this and the team that he picked to help him that became known colloquially as "HQ." We don't always get it right - and Greg has stated this publicly many times - but you can't question that the heart and souls of the people who help to ensure that: new affiliates are brought on, that the WoD gets posted every day (even if you don't like it), that the Boards get moderated, that the Games is an absolute kick-a** event and experience, that the seminars continue to get better and better, that the trademark is defended, that fees get paid, that SMEs run their seminars, that the Journal has content from writers, videographers, editors, that the website is up and running, that the charitable endeavors important to CrossFit continue to move forward and help others, and that Affiliates get to make the lives of their clients better each and every day... Every. Single. Day.
In my world, schizophrenic as it is, I had hoped that my friends and partners would be able to reach an accord. That appeared imminent and then suddenly evaporated. I don't think I'm at liberty to disclose the terms, but I think there were very, very fair offers made to effect a seamless transition and ensure no business relationships of CF, Inc. would be impacted - including the relationship with the Affiliates. Unfortunately, that did not quite get consummated and then the "definitive agreement" was announced by Bryan Kelly.
So, here we are. Does that answer the mail, Daniel? So please stop making declarative statements about business devaluation, CF HQ's intent, and other legal and factual matters that appear to be designed only to cast aspersions, rather than ask an actual question. But hopefully, if the questions were asked with a genuine quest for knowledge, I've answered some of the mail. And done so in a way that I hope explains and respects the interests of two people very dear to me, to whom I owe more than I can repay, as well as a community that I consider myself humbled and honored to serve and be a small part of.
Note that the "definitive agreement" wasn't announced in public (perhaps it was in private to CF, Inc) until after the Glassassination of Anthos.
