Earlier in 2025 CrossFit LLC formally confirmed that it was seeking a buyer, putting to rest months of speculation over the brand’s future. The announcement was made on March 12, just days before the conclusion of the 2025 CrossFit Open—an event central to the company’s competitive calendar.
The Search for a New Owner
In a letter to affiliate owners, CrossFit CEO Don Faul revealed that the company has initiated the sales process and partnered with investment bank Moelis & Company to lead the effort to vet prospective buyers.
Faul emphasized that the ideal acquirer should have a deep understanding of the CrossFit community, respect for the affiliate model, and the vision to guide the brand forward. Although the timeline for a deal is not yet determined, he reassured affiliates that day-to-day operations will remain unchanged until further notice.
Who Will Buy CrossFit?
Sources close to BOXROX revealed that there are currently two main competitors that seem serious about purchasing CrossFit.
The first is a Canadian Company, with grand plans to turn CrossFit into a umbrella organization that would work closely alongside many other sporting organizations. From what we have heard, this would mean a partnership of sorts with major other players in the endurance, strength and wider fitness ecosphere. The result could be an open, inclusive and forward thinking version of CrossFit.
The second competitor is Greg Glassman. There are rumors that he and a group of his associates want to re-acquire the company.
Past Ownership, Recent Headwinds
CrossFit is currently held by private equity firm Berkshire Partners, which acquired the company in 2020. The decision to seek a buyer follows significant challenges—most notably, scrutiny surrounding the 2024 CrossFit Games, when well loved elite athlete Lazar Ðukić tragically died during competition.
Despite such turbulence, CrossFit remains a powerhouse in the fitness world: over 11,000 affiliates globally and more than 100,000 credentialed coaches stand behind its unique model and results-driven approach.
Berkshire Partners bought CrossFit in 2021 and PE firms often look to exit within 3–5 years, so there is logic here in relation to the timing of the sale. Additionally, it is worth considering the exact meaning behind the sale of CrossFit, as it may also mean looking at strategic options, not a full exit.
In Summary
CrossFit LLC is officially on the market, with the leadership aiming to find a buyer aligned with its culture and mission. While the future is being negotiated behind the scenes, the brand insists on maintaining stability in its daily operations.
Although much is still unknown, CrossFit may move in very different directions depending on which of the two prospective buyers emerges victorious.
image sources
- Don Faul: Courtesy of CrossFit Inc.
- Greg-Glassman: Photo courtesy of CrossFit Inc
- how-to-lose-weight: Photo courtesy of CrossFit Inc taken at Brick Los Angeles
