{"id":4505,"date":"2026-07-29T11:07:48","date_gmt":"2026-07-29T11:07:48","guid":{"rendered":"https:\/\/uspropertymoves.com\/?p=4505"},"modified":"2026-07-29T11:07:48","modified_gmt":"2026-07-29T11:07:48","slug":"casey-wasserman-says-i-leave-with-pride-as-he-sells-stake-in-the-team-to-providence-equity","status":"publish","type":"post","link":"https:\/\/uspropertymoves.com\/?p=4505","title":{"rendered":"Casey Wasserman Says \u201cI Leave With Pride\u201d as He Sells Stake In The Team to Providence Equity"},"content":{"rendered":"<div>\n<!-- do not apply CSS styles to this element! --><\/p>\n<div>\n<div>\n<div>\n<p>\n\tIn a quiet end to what had been billed as a frenzied auction, Casey Wasserman is formally exiting his namesake management company that he founded nearly a quarter century ago.<\/p>\n<p>Read more <a href=\"https:\/\/uspropertymoves.com\/?p=4503\">Disney Unveils Annual Halloween Shop With Costumes, Decor and Coveted Starbucks Cup<\/a><\/p>\n<p>\n\tThe mogul confirmed on Tuesday that he sold his stake in Wasserman (since rebranded as The Team in March) to Providence Equity Partners, which had held a majority of the company since buying in 2022. The deal close is expected in the second half of this year. As part of the sale, Mike Watts, the veteran exec who stepped in to steady the ship in February, will be named CEO.<\/p>\n<p>\n\tThe move caps a sale process that was announced in February and began in earnest in April when the first round of bids to buy the company were submitted to investment bank Moelis &amp; Co. The company said it saw multiple rounds of bids from prospective suitors. United Talent Agency and Patrick Whitesell\u2019s WIN were among the bidders that kicked the tires.<\/p>\n<p>\n\t\u201cThe truest measure of anything you build is whether it can thrive beyond you \u2014 and that was always my goal when I founded what was then called the Wasserman Media Group 24 years ago,\u201d stated Wasserman on Tuesday. \u201cWhat began as a small agency with big ambitions is today a global leader.\u00a0The Team is\u00a0powered by extraordinary people and trusted by the world\u2019s 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\u2019s future is bright.\u201d\u00a0<\/p>\n<p>\n\tThe mogul, who is exiting his role at the management firm for an undisclosed sum but is staying on to lead Los Angeles\u2019 Olympic Games effort in 2028, faced an artist rebellion at his day job after being named in a tranche of Department of Justice documents related to convicted sex trafficker Jeffrey Epstein and accomplice Ghislaine Maxwell in late January.<\/p>\n<p>Read more <a href=\"https:\/\/uspropertymoves.com\/?p=4493\">Jared Leto Accused of Sexual Misconduct by Four Women in New BBC Doc<\/a><\/p>\n<p>\n\tMore than 20 artists said they were dropping Wasserman while, behind the scenes, agents were caught in an awkward predicament as the company\u2019s name became a liability in the moment. Wasserman apologized for the flirtatious messages with Maxwell in 2003 but weeks later, as the scandal didn\u2019t abate, conceded, \u201cI have become a distraction\u201d to the company\u2019s business and pledged to sell his stake.<\/p>\n<p>\n\tThe new owner, Providence, is the same as the old one, given the firm had already boosted the fortunes of the the-named Wasserman when it invested in Nov. 2022 to take the place of prior backers RedBird Capital and Madrone Capital Partners.<\/p>\n<p>\n\tThe Team is now home to a powerhouse sports representation unit, a notable music agency group built from an acquisition of Paradigm\u2019s music division, as well as production-management firm Brillstein, a marketing services unit and more properties. Since founding Wasserman in 2002, the company has rolled up multiple boutique agencies and had 4,000 employees as of earlier this year.<\/p>\n<p>\n\t\u201cWe\u2019re incredibly excited to further strengthen our partnership with The Team,\u201d added Davis Noell, senior managing director, co-head of North America at Providence. \u201cThe 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.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/uspropertymoves.com\/?p=4491\">\u2018Bloody Tennis,\u2019 Tunisian Horror and a Surgeon With Kleptomania: Quirky Films at Locarno<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The move concludes a tumultuous few months for the management and production company.<\/p>\n","protected":false},"author":1,"featured_media":4504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2874],"class_list":["post-4505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting","tag-casey-wasserman"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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