Illustration: Sarah Grillo/Axios

Berkshire Partners agreed to buy fitness brand CrossFit, in partnership with CrossFit gym owner and former Datalogix CEO Eric Roza (who will become CrossFit CEO). The seller is CrossFit's founding CEO Greg Glassman, who resigned after making controversial comments about the killing of George Floyd.

Why it matters: CrossFit needed a lifeline, due to both its management tumult and business challenges related to the pandemic.

  • CrossFit is largely a brand licensing company, charging gyms $3k per year to become "affiliates," plus generating revenue from trainer certification courses and merchandise. In 2013, Inc. reported that it generated around $100 million in revenue, while the broader CrossFit empire netted between $1.5 billion and $2 billion.

The bottom line: "When Greg Glassman resigned as CEO of CrossFit, excoriated for comments about George Floyd’s death on Twitter and in a Zoom meeting, people who have worked there were surprised that his downfall was tied to accusations of racism. They had assumed that the reason would be routine and rampant sexual harassment," writes the New York Times' Katherine Rosman.

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Updated 7 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5:30 p.m. ET: 18,160,139 — Total deaths: 690,724 — Total recoveries — 10,755,137Map.
  2. U.S.: Total confirmed cases as of 5:30 p.m. ET: 4,698,244 — Total deaths: 155,191 — Total recoveries: 1,468,689 — Total tests: 56,812,162Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Business: Virtual school is another setback for retail — The pandemic hasn't hampered health care.
  5. Sports: 13 members of St. Louis Cardinals test positive, prompting MLB to cancel Tigers series — Former FDA chief says MLB outbreaks should be warning sign for schools.
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13 members of St. Louis Cardinals test positive for coronavirus

Photo: Hannah Foslien/Getty Images

Seven players and six staff members from the St. Louis Cardinals have tested positive for the coronavirus over the past week, prompting the MLB to postpone the team's upcoming four-game series against the Detroit Tigers.

Why it matters: Seven consecutive Cardinals games have now been canceled after St. Louis became the second team to report a significant coronavirus outbreak, just two weeks into the season.

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White House adviser Peter Navarro talks TikTok

President Trump has relaxed his threat to immediately ban the popular social media app TikTok, giving Microsoft room to negotiate an acquisition from Chinese tech giant ByteDance.

Axios Re:Cap digs into the situation with Peter Navarro, the White House's top trade adviser and a noted China hawk, who suggests Microsoft should be forced to make unrelated concessions related to its China operations.