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WTC might be up for sale....

James LangeJames Lange Member, Rooster Endurance Member
...any chance we can raise $500m? I'm in for $50 (Canadian).

http://www.reuters.com/article/2015/02/24/us-ironman-m-a-exclusive-idUSKBN0LS2G220150224


Comments

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    My inkling is that there is a deal in place with LTF as a merger. PEP floated this out there in order to get a second or third party in a bidding war / determine market valuation. I think 10x EBITDA is ambitious as hell. My guess is somewhere around $325mm would get it done unless we start seeing a third-party involved (see: somebody from the Middle East or a billionaire out of the Corporate XC who has nothing but cash to burn).
    oldmanchad
    Resident Gear Guru
    Bike Crash Free Since August 4th, 2014
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    Lifetime Fitness and WTC. Two bastions of healthy lifestyles with our best interests in mind. What could be wrong with that marriage?
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    IMO the likelihood of LTF being a good leader for WTC and the sport is much higher than if they go public. LTF has a need to keep the events a hell of an experience in order to be able to sell their members on coaching/classes specifically to those events. Gets more people involved. Of all the outcomes, it is second only behind Mark's GoFundMe to purchase.
    Resident Gear Guru
    Bike Crash Free Since August 4th, 2014
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    @rrheisler "sell their members..." That's where I get frustrated with LTF. I'm a Lifetime member and honestly have nothing against their gym/fees for general usage. It's their upcharges and fine print for extras that drive me nuts. Could be my localized experience but they sell on great coaching, classes, and more, but then fall short. By the time you're tired of it you get screwed with cancel fees and xx days notice.

    My 10yo son was on a LT swim team. They made this big move to join USA Swim promised great coaching, races, etc. Ended up with some barely out of high school dickhead kid coach, two lanes with the other occupied by pissed off crowded members. Spoke up, was promised change, waited a week or two then pulled him out when nothing changed. They still wouldn't my son off the team without another months payment because that's how it's done. I argued they weren't providing the service in the contract that I was paying handsomely for. Spoke to people way up the chain and they wouldn't budge.

    At the same time, I can't use the pool in the morning on certain days because the "elite" tri team has the pool to themselves. Their monthly fees were about the same as my kids swim fees, but yet they get a whole pool to themselves??

    Don't get me started on the "Masters" coach...

    I don't begrudge anyone making a buck, but treating people fairly in the process is important in my book. WTC and LTF have work to do in that category imho. End of rant.
    Ryan HeislerAaronWebstey
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    @Scheck48 sounds like WTC and LTF will get along swimmingly based off of your experience! 2 peas in a pod...
    Scheck48AaronWebstey
    seems like kind of an asshole =)
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    @Scheck48 unfortunately, that seems to be my experience with any pool/gym, let alone LTF. It's insane the hoops you have to jump through to get a little lane time, and the fee structure of most gyms require a law degree to really be able to sort through the contract. It's insane.

    That being said, they know the proof is in the end result of the event they produce, not so much the actual goods during the course of the transaction. If you have an enjoyable race experience, you tend to look back more favorably on the events that built up to those things; conversely, if you have a shitty race experience, you tend to look at the entire experience as an overall negative. I think that's where LTF makes for a decent partner with WTC; their track record with events has been positive.

    I just have a hard time believing somebody else would have much interest, outside of a billionaire with money to burn and a big IM habit.
    Scheck48PreachSwanson
    Resident Gear Guru
    Bike Crash Free Since August 4th, 2014
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    Sell to anybody, just not to another PE firm.
    WTC Free since 2010


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    AaronWebsteyAaronWebstey Administrator, Rooster Endurance Member, Rooster Endurance Officers
    Curious: do you all not have local city establishments? I paid about $100 on a 2fer punch card sale for enough swims to get me through probably a year or so. A community-centric pool/gym. Does this exist in American cities?
    HMkrplunkit
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    @AaronWebstey I'm lucky to have a bunch of them (pool only) in Maine. As you can expect, their niceness ranges based upon the tax basis of the town. One pool is UV light treated, great gutter system, wave-killing lane-lines. Another was built in 1952 and looks like it was last cleaned that year, too.

    Unfortunately, health insurance will only give me cash back for money I spend on full-on athletic clubs (read as: must have treadmill, free weights, and offer classes that aren't Aqua Zumba.)

    This reminds me: we need a thread of our Pool Anger Stories. E.g., the time I got yelled at by the ladies doing Aqua Zumba because I was "splashing too much" while doing a set of 6 x 50 kick on 1:00.
    Resident Gear Guru
    Bike Crash Free Since August 4th, 2014
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    PreachSwansonPreachSwanson Member, Rooster Endurance Member, Rooster Endurance Officers
    So that's where the anger on those kick sets was born from.... I could read it in your training plan.
    Ryan Heisler
    TRS Racing
    I'm an angel with an incredible capacity for beer

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