Casey Wasserman’s Exit Plan: New Owner of The Team May Be Same As Its Last One
Casey Wasserman is reportedly in talks to sell his remaining stake in talent and sports representation company The Team to Providence Equity Partners, its existing private-equity backer. The potential deal would remove the founder after a troubled period for the business, while leaving ownership effectively with the same strategic investor that has supported its recent growth.
Providence bought a major stake in the company in November 2022 and later backed its acquisition of Brillstein Entertainment; an auction run by Moelis & Co attracted interest from UTA, Patrick Whitesell’s WIN and others. Pressure for a sale followed renewed scrutiny over Wasserman’s past correspondence with Ghislaine Maxwell and a 2002 flight on Jeffrey Epstein’s jet, prompting more than 20 artists to leave in February; Wasserman apologised and said he had no personal or business relationship with Epstein. The firm rebranded from Wasserman to The Team in March, and its sports division generated $266 million in revenue.
- Providence may buy Casey Wasserman’s remaining stake in The Team.
- The sale follows controversy and artist departures.
- Existing investor ownership would largely remain unchanged.