Gold’s Gym has been purchased.
The public health crisis has turned things on its head. Every industry has been affected by the virus sweeping the globe, including gyms and fitness facilities. One of those gyms is the famed stomping ground for bodybuilders, Gold’s Gym.
The Gold’s Gym franchise has been a staple in the bodybuilding community. Many celebrities have trained at the now famous Gold’s Gym Venice, including seven-time Olympia champion and all-time great Arnold Schwarzenegger.
But the Gold’s Gym franchise has fallen on tough times due to the public health crisis. Things got so bad in fact that the famed franchise had to file for Chapter 11 bankruptcy. It seems to be a trend these days as 24 Hour Fitness has also been forced to do the same.
Now it seems that Gold’s Gym has been purchased.
According to reports, RSG Group acquired the franchise through a court-approved auction. The franchise was purchased by RSG Group for $100 million.
“Gold’s Gym is a fitness institution that had a major influence on the industry’s development. It was a huge source of inspiration when I was setting up my first McFIT studio in Würzburg, Germany back in 1997,” said Rainer Schaller, founder and CEO of the RSG Group. “I am incredibly proud that, in partnership with their current leadership team, we will be able to breathe new life into this iconic brand under the umbrella of the RSG Group.”
The longer the global health crisis lasts the more of these cases we’re likely to witness.
Managing Editor at Generation Iron, Jonathan Salmon is a writer, martial arts instructor, and geek culture enthusiast. Check out his YouTube, Instagram, Twitter, Facebook, and Sound Cloud for in-depth MMA analysis.