by Matt Weik, BS, CSCS, CPT, CSN
CrossFit is once again at a crossroads. In March 2025, the company announced it was officially for sale. CEO Don Faul confirmed the news in an email to affiliate owners, stating the brand is actively looking for new ownership to carry the company forward.
This marks the second time CrossFit has changed hands since 2020, when private equity firm Berkshire Partners took over from founder Greg Glassman (after an alleged murder incident that landed him in prison).
Personally, I’m not sure anything can save CrossFit. It was cool (for some people) while it lasted. The CrossFit Games were a spectacle for several years. And since then, CrossFit has seemed to fizzle out.
Is it due to a lack of interest? Due to many people getting injured due to the nature of the workouts? A combination of both? Or something different?
In this article, we’re going to dive deeper into CrossFit being for sale and understand how they got here and where they may be headed.
Disclaimer: This article is for informational purposes only and is not meant to treat or diagnose any condition. It is recommended that you speak with your doctor before starting any exercise program, making changes to your nutrition plan, or adding any new supplements into your current regimen.
Why CrossFit is Looking for New Ownership
The decision to sell CrossFit doesn’t come out of nowhere. Berkshire Partners, which has been steering the brand for the last five years, has tapped investment bank Moelis & Company to lead the process.
Faul explained the reasoning clearly:
“Our objective is to find the right partner — one with a connection to our community, an appreciation for our affiliate business model, and the passion and vision to lead us into the future.”
That statement makes it clear the leadership team wants someone who understands the culture of CrossFit, not just the business potential.
To be honest, the unfortunate death of a brand comes when leadership or ownership comes in that doesn’t fully understand the business or its demographic. I’ve seen it happen many times.
The Numbers Tell a Story
Part of the push to sell may come from declining participation and affiliate numbers.
- At its peak in 2018, CrossFit had over 14,000 affiliates worldwide. Today, that number is closer to 10,000.
- The CrossFit Open has also seen a major dip. In 2025, registration dropped about 30%, leaving the competition with around 234,000 participants.
Those numbers don’t spell the end of CrossFit by any means (that’s still a good number of people), but they do highlight the challenges facing the brand. Growth has slowed, and participation is down from its glory days.
A Look Back: CrossFit’s Rocky Past
CrossFit’s road to today hasn’t been smooth. In 2020, the company faced massive backlash when founder Greg Glassman resigned after making controversial remarks and then finding himself in hot water with the law.
That opened the door for Berkshire Partners to step in and buy the brand.
Since then, CrossFit has tried to rebuild trust, stabilize leadership, and grow again. But the affiliate model has been under pressure, and newer competitors in the fitness space have chipped away at CrossFit’s once-unique position.
Today, CrossFit has seemed to have lost its luster, and not only do you see many boxes opening up, but many of them have been closing altogether.
What the Sale Means for Affiliates
For affiliate gym owners, the big question is what happens next. Affiliates are the backbone of CrossFit’s model. They pay licensing fees to carry the name but largely operate independently.
A new owner could choose to double down on supporting affiliates, or they might look to make changes that alter how the business runs. That’s where many gym owners are feeling uncertainty.
If the next ownership group values the community, culture, and decentralized model, affiliates may benefit. But if the focus is only on scaling revenue, the experience could shift dramatically.
What About the Athletes and the Sport?
Another piece of the puzzle is the competitive side of CrossFit. The CrossFit Games have become a global showcase, producing stars like Rich Froning, Tia-Clair Toomey, and Mat Fraser.
Participation in the Open feeds directly into the Games, and with numbers declining, there’s concern about how the sale might impact the sport’s future. A committed owner could bring new energy, sponsors, and visibility. But a disengaged one could let the competitive scene fade.
Who Could Step in as a Buyer?
That’s the million-dollar question. Or, more accurately, the multi-million-dollar question.
Potential buyers could come from several directions:
- Another private equity firm looking to revamp the brand.
- A major fitness company that wants to fold CrossFit into a larger portfolio.
- An individual with deep ties to the CrossFit community who wants to preserve its roots.
As of now, no official bidders have been announced. Moelis & Company is leading the process, and insiders expect multiple interested parties to surface.
CrossFit’s Next Chapter
CrossFit has always been more than just a workout program. It’s a community, a lifestyle, and for many, a way of life. But with declining numbers and shifting ownership, it’s entering a new chapter.
The sale presents both risk and opportunity. The right buyer could reignite growth, strengthen affiliate relationships, and bring new attention to the Games. The wrong one could steer the brand further away from its roots.
For now, affiliates, athletes, and fans are left waiting. The only certainty is that CrossFit will soon have a new owner — and with that, the future of the sport of fitness could look very different.
My Take on the Sale
From my perspective, this sale could go one of two ways — and the stakes are pretty dang high.
If CrossFit lands in the hands of an owner who truly values the affiliates, the Games, and the culture that makes the brand unique, this could be the reset the company needs.
The right leadership could stabilize participation, bring excitement back to the Open, and give gym owners the tools they need to thrive.
But if the buyer only sees dollar signs, CrossFit could drift even further from what made it special and unique to a certain athlete and style of training. That would be a loss not just for affiliates, but for the entire fitness industry.
I’m hopeful, though. CrossFit has always been resilient, and its community is unlike anything else out there. While I’m not a fan of CrossFit or that particular style of training, a loss in the fitness industry is never a good thing (other than to their competitors).
With the right vision, this could mark the beginning of a powerful new chapter for CrossFit. And while I think CrossFit is somewhat dangerous (especially to those who have no clue what they’re doing), I hope someone purchases them who has a vision and wants to see the success of the brand.
