Christopher BarrettCasey Wasserman the founder and former CEO of Wasserman, which was rebranded THE·TEAM in March, has sold his stake in the company to Providence Equity Partners.
Providence, which has stakes in entertainment businesses including ATG Entertainment, d&b audiotechnik, Rock-It Cargo, Superstruct and TAIT, acquired a majority stake in Wasserman in 2022.
Wasserman’s rebranding as THE·TEAM followed Casey Wasserman’s departure from his his namesake company after he was named in the Jeffrey Epstein files released by the US Department of Justice.
THE·TEAM is one of the largest talent agencies in the entertainment industry, while its Live Events division handles production across sports, music, entertainment and cultural events. In the UK alone that arm of the business includes a 54,000 square foot facility.
Reportedly, the sale values THE·TEAM at around $3.4 billion and will see Mike Watts named CEO.
Wasserman said, “The truest measure of anything you build is whether it can thrive beyond you – and that was always my goal when I founded what was then called the Wasserman Media Group 24 years ago.
“What began as a small agency with big ambitions is today a global leader. The Team is powered by extraordinary people and trusted by the world’s greatest talent, brands, and properties. I leave with pride in what we created together, gratitude for those who made it possible, and confidence in what comes next. Sports, music, and entertainment are the languages the whole world speaks, and The Team’s future is bright.”