Deals
Flywheel Studios Said Near Sale to New York Sports Clubs Owner
- Plan is to offer Flywheel access in premium membership package
- Talks with bidders on at-home bike unit are said to continue
Photographer: Eugene Gologursky/Getty Images
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Flywheel Sports, the operator of spin boutiques beloved by fitness-obsessed Wall Streeters, is close to selling its studios to the owner of New York Sports Clubs, part of a chain with 630,000 members.
Town Sports International Holdings Inc. may announce a purchase as soon as next week, one of the people said, asking not to be identified discussing the private talks. Negotiations to potentially sell Flywheel’s at-home bike business to other bidders are continuing, the people said.