The Sports Club Co. confirmed that it is reviewing proposals from potential buyers, according to a release issued this morning.
One proposal is from Millennium Partners, a real estate development firm, to purchase certain clubs on the east coast and The Sports Club/LA-San Francisco for $80 million or to acquire the entire company through a merger at a price of $2 per share of the company’s common stock.
As of the release, the company had not approved or negotiated the terms of any of the proposals.
The Sports Club Co., based in Los Angeles, owns and operates luxury sports and fitness facilities nationwide, including the Reebok Sports Club in New York, and touts a long list of celebrity members.