Casey Wasserman plans to sell his namesake talent and sports agency in the wake of reputational damage tied to associations with Jeffrey Epstein. The move removes Wasserman from active ownership and could trigger leadership change and client shifts at one of the industry's influential agencies, with broader implications for talent representation and corporate governance in sports business.
Home > Industry News > Business Casey Wasserman’s The Team to Sell Full Ownership to Providence Equity The major investor already owns about 60% of the agency Alyssa Ray and Lucas Manfredi July 28, 2026 @ 5:53 PM Share on Social Media Share on Facebook Share on X (formerly Twitter) Share on LinkedIn Share on Email Casey Wasserman (Photo by Patrick T. Fallon / AFP via Getty Images) Getting your Trinity Audio player ready… Providence Equity will assume full control of The Team (formerly Wasserman), with the firm set to buy out founder Casey Wasserman’s remaining ownership stake. The deal is slated to close in the second half of 2026, subject to customary closing conditions. Financial terms were not disclosed, though Puck previously reported an estimated valuation of $3.4 billion — slightly higher than the roughly $3 billion valuation floated when Wasserman first began exploring a sale back in February. Providence, which first invested in The Team back in 2022, already owns about 60% of the agency. As majority investor, it will continue to support organic growth and strategic M&A opportunities, providing the capital and partnership needed to help The Team expand across sports, music and entertainment. The firm’s buyout of Wasserman’s remaining ownership interest comes five months after the embattled executive informed his staff that he intended to sell his company after fallout from his connection to Jeffrey Epstein associate Ghislaine Maxwell , the convicted sex trafficker. It also follows multiple rounds of bids that were received from prospective buyers and investors. “We’re incredibly excited to further strengthen our partnership with THE•TEAM,” said Providence’s North America Co-Head and Senior Managing Director Davis Noell in a statement. “The robust interest in the Company throughout this process only reinforced our belief in the business and enthusiasm for its next phase of growth. Our additional investment also reflects our conviction in the long-term growth in demand for in-person experiences across sports, music, and entertainment and the brands, talent, and partnerships that bring those moments to life.” Read Next Ari Emanuel Urges State AGs to Drop Paramount-Warner Bros. Merger Lawsuit In February, Wasserman apologized for his “past personal mistakes” and stated that he had become a distraction in the day-to-day running of the agency, where high profile clients such as Chappell Roan and soccer star Abby Wambach have departed. At the time, Providence Equity also shared that they supported the sports and talent rep’s leadership transition. Michael Watts, who has served as president since 2014 and assumed day-to-day control of the company in February, will be elevated to The Team’s CEO following the deal’s closing. “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,” Wasserman said in a statement on Tuesday. “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.” Despite selling the Team, Wasserman has maintained his position as the chairman of LA28 amid repeated calls as high up as Mayor Karen Bass for his resignation. In February, LA28 Olympics organizers ruled that they would stand by Wasserman, sharing, “The Executive Committee of the Board has determined that based on these facts, as well as the strong leadership he has exhibited over the past 10 years, Mr. Wasserman should continue to lead LA28 and deliver a safe and successful Games.” J.P. Morgan served as exclusive financial advisor and Kirkland & Ellis LLP is served as legal counsel to Providence, while Moelis served as financial advisor to The Team. BDT & MSD Partners served as financial advisor to Casey Wasserman, while Sullivan & Cromwell LLP is served as legal counsel to Wasserman and The Team. Read Next Lionsgate Increases CEO Jon Feltheimer's Pay to $19.4 Million for 2026 Alyssa Ray Alyssa Ray is the night news editor at TheWrap and boasts a passion for period dramas, horror films, musicals, romance novels, reality TV, pop music and theme parks. After growing up in Massachusetts, Alyssa found herself in Los Angeles through Emerson College’s internship program, where she majored in Marketing Communications. After a stint in publicity,… Lucas Manfredi Lucas Manfredi is a TV Business reporter at TheWrap, writing about the programming, executives and trends in the television and streaming industries. Prior to joining the TheWrap in November 2022, he spent four years at Fox Business as a production assistant and a reporter on its digital team. He has a Bachelor of Science in… Please wait while we verify your access… Leave a Reply Logged in as . Manage your account . Sign out? Comment * Sorry, we're having trouble loading commenting features. Please try again in a moment. 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Curated by Taleb Kabbara · Source: www.thewrap.com
Casey Wasserman
Casey Wasserman: Wasserman operates in athlete representation and sports marketing and will sell his agency after fallout related to Epstein.
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