Something remarkable happened in the fitness world just six days ago — on September 8, 2026. The co-founders of HYROX, the indoor fitness racing competition that has taken the world by storm, officially reclaimed majority control of the company they created.
The deal closed. The old owner walked away. And a brand-new chapter began for the fastest-growing competitive fitness format on the planet. Here is the full story of who owns HYROX, how it got here, and why the ownership change that just happened is one of the most interesting stories in global sport right now.
What Is HYROX?
HYROX (stylized in capitals) is an indoor fitness competition that combines 8 kilometers of running with 8 functional workout stations, alternating between running and exercise in a single continuous race. It bills itself as “The World Series of Fitness Racing” and “A Sport for Everybody.”
HYROX was founded in Hamburg, Germany in November 2017 and held its first competitive season in 2019.
It has since expanded rapidly across 30+ countries, growing from just 3,000 participants and 10,000 spectators in its debut year to a staggering 1.4 million participants and over 1.5 million spectators in the 2025–26 season alone. The company expects participation to surpass 2 million athletes in the 2026/27 season.
Who Owns HYROX Right Now in 2026?
This is where the story gets genuinely exciting — because the ownership structure just changed completely on September 8, 2026.
HYROX co-founders Christian Toetzke and Moritz Fürste now hold the majority controlling stake of 51% in HYROX, having reclaimed control from Infront Sports & Media, which had been the majority owner since 2022 and has now fully exited the business.
The remaining 49% is held by two new minority investors: L Catterton, a major consumer-focused private equity firm backed by LVMH, and WndrCo (also written as Wndr), a venture capital firm co-founded by entertainment mogul Jeffrey Katzenberg and partner Sujay Jaswa.
The deal reportedly values HYROX at approximately €600 million — roughly $697–700 million — with some outlets suggesting the implied figure could be closer to $1 billion depending on how future revenue is calculated.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| Christian Toetzke | Co-Founder & Majority Owner | Part of combined 51% founders’ stake | Cycling industry veteran; co-created HYROX in Hamburg in 2017 |
| Moritz Fürste | Co-Founder & Majority Owner | Part of combined 51% founders’ stake | Former professional field hockey player; Olympic gold medalist |
| L Catterton | Lead Minority Investor | Part of 49% minority consortium | Consumer PE firm backed by LVMH; also owns Birkenstock, Dishoom stakes |
| WndrCo (Wndr) | Minority Investor | Part of 49% minority consortium | VC firm co-founded by Jeffrey Katzenberg; joined as strategic partner |
| Infront Sports & Media AG | Previous Majority Owner | Fully exited September 8, 2026 | Swiss sports marketing firm; owned majority stake since 2022; subsidiary of Dalian Wanda Group |
| Upsolut Sports | Operating Entity | Internal operations arm | The operational company that runs HYROX race events globally |
| Puma | Apparel Sponsor | No equity | Official kit and apparel partner since 2019 |
| Red Bull | Sponsor | No equity | Official energy drink partner since 2020 |
| Amazon | Brand Partner | No equity | Strategic commercial partnership for HYROX global expansion |
The Origin Story: A Cycling Executive and a Hockey Champion
HYROX was not created by a fitness industry giant or a corporate sports conglomerate. It was built by two friends with a specific vision — and almost no one in the industry thought it would work.
Christian Toetzke is a veteran of the cycling industry and sports business world. Moritz Fürste is a former professional field hockey player who won Olympic gold medals for Germany. Together, they looked at the fitness landscape in 2017 and spotted a gap: there was no standardized, globally scalable competitive fitness race format that everyday athletes could participate in regardless of their level.
They designed HYROX around that insight. Eight kilometers of running broken into one-kilometer segments, each followed by a functional workout station — SkiErg, Sled Push, Sled Pull, Burpee Broad Jumps, Rowing, Farmers Carry, Sandbag Lunges, and Wall Balls. Same format, same distances, same weights at every event around the world.
The standardization was intentional — it meant results were directly comparable, and athletes could track real improvement across seasons and locations.
The first HYROX race took place in Hamburg in 2019 with just 3,000 competitors. By 2026, that number had grown to 1.4 million participants globally — one of the fastest growth trajectories ever seen in competitive sport.
How Infront Got Involved — And Why the Founders Bought Back Control
Infront Sports & Media AG — a Switzerland-based sports marketing and media company and a subsidiary of Dalian Wanda Group of China — first made a strategic investment in HYROX in December 2019. In October 2021, Infront acquired a majority stake in HYROX, increasing its ownership to just over 50%, which accelerated HYROX’s global expansion significantly.
By early 2026, Infront began signaling it was considering a sale. Infront’s parent company Dalian Wanda Group had been under financial pressure from China’s struggling commercial real estate sector and had been continuously selling assets. HYROX was one of its most valuable and profitable holdings — making it a prime candidate for divestment.
The key detail that makes this deal unusual is what the founders chose to do. Rather than allowing outside investors to take control — as typically happens when a private equity firm leads an acquisition of this size — Toetzke and Fürste structured the deal so that they went from holding 40% to holding 51%. They are now more committed to HYROX financially than they were before, and they have full strategic control. Most founders sell down in deals like this. These two bought up.
Moritz Fürste said at the announcement: “This acquisition marks a pivotal next step in the rapid evolution of the HYROX success story.”
Who Is L Catterton — And Why Does It Matter?
L Catterton is one of the most respected consumer-focused private equity firms in the world. It is backed by LVMH — the French luxury conglomerate that owns Louis Vuitton, Dior, Moët & Chandon, and dozens of other premium brands.
L Catterton invests specifically in consumer brands with strong growth stories, and its portfolio includes Birkenstock, Dishoom, Solidcore, and ClassPass parent company Playlist, among others.
Its managing director Shena Willis said: “We see HYROX as uniquely well positioned, having created a global movement around hybrid racing, giving athletes in over 30 countries a place to train, compete and pursue their personal ambitions.”
The involvement of L Catterton signals institutional confidence in HYROX’s long-term commercial model — and brings with it a global network of brand-building expertise that HYROX will use to expand into new markets.
Jeffrey Katzenberg and WndrCo: The Hollywood Connection
The third major party in the new HYROX ownership structure is WndrCo — the venture capital firm co-founded by Jeffrey Katzenberg, the legendary entertainment executive who co-founded DreamWorks Animation and served as chairman of Disney Studios in the 1980s and 1990s.
Katzenberg built WndrCo as a firm focused on the intersection of media, technology, and consumer culture. His involvement in HYROX is a strong signal that the brand is being positioned as something beyond a fitness race — it is being developed as a global entertainment and lifestyle property. This aligns directly with how HYROX already operates, with its events featuring major production values, sponsor activations, spectator experiences, and a growing digital media presence.
How Big Is HYROX in 2026?
The numbers behind HYROX’s growth are genuinely extraordinary for a brand that is less than a decade old.
When HYROX launched its first competitive season in 2019, it attracted 3,000 participants and 10,000 spectators. By the 2025–26 season, 1.4 million athletes competed globally with over 1.5 million spectators attending events.
The company now operates across 30+ countries and is projecting over 2 million participants in 2026/27. A total valuation of €600 million ($697–700 million) for a brand that is just 7 years old and has never publicly listed says everything about the market’s confidence in where HYROX is headed.
Its major sponsors include Puma (apparel, since 2019), Red Bull (energy drinks, since 2020), Amazon, and Amazfit. Its training partnerships include a high-profile collaboration with Peloton that launched in July 2025, featuring a 12-week HYROX training program delivered by Peloton instructors.
Frequently Asked Questions (FAQs)
Q1. Who owns HYROX in 2026?
HYROX is majority-owned (51%) by co-founders Christian Toetzke and Moritz Fürste, with L Catterton and WndrCo holding the remaining 49% as minority investors.
Q2. When did the new HYROX ownership deal close?
Infront Sports & Media officially confirmed the completed sale on September 8, 2026, with HYROX founders reclaiming majority control.
Q3. Who owned HYROX before the 2026 deal?
Infront Sports & Media AG — a Swiss sports marketing firm and subsidiary of Dalian Wanda Group — held the majority stake from 2022 until September 2026, when it fully exited.
Q4. How much is HYROX worth in 2026?
The deal reportedly values HYROX at approximately €600 million (around $697–700 million), with some estimates suggesting closer to $1 billion.
Q5. Who founded HYROX and when?
HYROX was co-founded by Christian Toetzke and Moritz Fürste in Hamburg, Germany in November 2017, with its first competitive season launching in 2019.
Q6. What is L Catterton’s connection to HYROX?
L Catterton is a consumer-focused private equity firm backed by LVMH that led the buying consortium and now holds a minority stake in HYROX alongside WndrCo.
Q7. How many people participate in HYROX globally?
In the 2025–26 season, 1.4 million athletes competed in HYROX events worldwide, with the company targeting over 2 million participants in 2026/27.
Q8. What is a HYROX race?
HYROX is an indoor fitness race combining 8 kilometers of running with 8 functional workout stations — including SkiErg, Sled Push, Rowing, and Wall Balls — completed in one continuous event.
HYROX is now majority-owned by its co-founders Christian Toetzke and Moritz Fürste, who together hold a controlling 51% stake following the completion of a landmark deal on September 8, 2026.
The remaining 49% is split between L Catterton (a consumer PE firm backed by LVMH) and WndrCo (the venture capital firm of Jeffrey Katzenberg). Infront Sports & Media, which had owned the majority since 2022, has fully exited the business.
The deal values HYROX at approximately €600 million ($697–700 million) — a remarkable figure for a brand founded by two friends in Hamburg in 2017 with a simple idea: make competitive fitness racing accessible to everyone.
From 3,000 participants in 2019 to 1.4 million in 2026, HYROX is one of the great sporting growth stories of the modern era — and with its founders back in control, its next chapter is just beginning.
