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LONDON: Reebok, the global fitness and lifestyle footwear, apparel and equipment brand confirmed on Tuesday that it has settled its dispute with CrossFit Inc. over their licensing agreement and the deal is expected to move forward till 2020 and beyond if mutually agreed upon.
However, Reebok will be paying an undisclosed fee to CrossFit for the settlement of the disputed royalties.
The two firms had signed a 10-year agreement in 2010 which made Reebok the official title sponsor, licensor and marketer of all products bearing the CrossFit trademark.