As we talked about a couple of months ago, Tough Mudder did go to bankruptcy court and ended up with a settlement deal. Spartan will acquire Tough Mudder for $700,000 plus assume debts of $10 Million including honoring prepaid tickets.
According to Obstacle Racing Media, Spartan is brining back a number of Tough Mudder employees, including the non-founder CEO Kyle McLaughlin who had left a couple of months ago.
This is all good news for OCR fans, although it is a pretty big come down from 2014 when they raised $51 Million at a valuation of $200 Million. It is yet another reminder to keep valuation expectations realistic in the endurance industry.