Sep 21, 2026 · 48 min · 12 segments
We look at why Hyrox’s reported $700M valuation makes CrossFit’s recent market reality feel even more alarming. We compare business models, leadership, and programming choices to figure out what’s…
David SyvertsenHost
Sam RieHost
Sam, we actually have some relationships with people that were very, very as close as you can get to the CrossFit sale.
We got information that was never made public that very few people know about, and because of that, when I saw the fact that Hyrox got sold to L Catterton, which is a consumer-focused private equity firm, for Bloomberg reported, which is the most reliable finance source in the world, for $700 million.
And that's what we think approximately it got sold for the last time it got sold to private equity.
Private equity's goal is always to make money, to make it more valuable than what it was when they bought it, and they take a profit.
I don't know if there's anyone out there, this is not confirmed, this is my speculation based on conversations I've had, that anyone was willing to buy it for $150 million.
So you're talking about something has gone down about, what is that, 25% since the purchase at the same time as Hyrox went from about $100 million to $700 million.
So if you ever wanna answer and ask the question, "Who ate CrossFit's lunch?" The answer's right in front of you.
This is what CrossFit thought they would be at some point, and they didn't even get close.
And to traj- and where it's actually trajectory right now, just where it's going- The gap is getting even wider.
It's like the good athletes and the bad athletes conversation we have at our gym.
The best are getting so much better, the worst are, or the people that aren't getting better are going even backwards.
It blew my mind, and then I looked at the numbers and I saw that they are project- they project to make ...
Sam, we actually have some relationships with people that were very, very as close as you can get to the CrossFit sale.
We got information that was never made public that very few people know about, and because of that, when I saw the fact that Hyrox got sold to L Catterton, which is a consumer-focused private equity firm, for Bloomberg reported, which is the most reliable finance source in the world, for $700 million.
And that's what we think approximately it got sold for the last time it got sold to private equity.
Private equity's goal is always to make money, to make it more valuable than what it was when they bought it, and they take a profit.
I don't know if there's anyone out there, this is not confirmed, this is my speculation based on conversations I've had, that anyone was willing to buy it for $150 million.
So you're talking about something has gone down about, what is that, 25% since the purchase at the same time as Hyrox went from about $100 million to $700 million.
So if you ever wanna answer and ask the question, "Who ate CrossFit's lunch?" The answer's right in front of you.
This is what CrossFit thought they would be at some point, and they didn't even get close.
And to traj- and where it's actually trajectory right now, just where it's going- The gap is getting even wider.
It's like the good athletes and the bad athletes conversation we have at our gym.
The best are getting so much better, the worst are, or the people that aren't getting better are going even backwards.
It blew my mind, and then I looked at the numbers and I saw that they are project- they project to make ...
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