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Casey Wasserman Says “I Leave With Pride” as He Sells Stake In The Team to Providence Equity
Casey Wasserman has formally exited the management company he founded 24 years ago, confirming he has sold his stake in Wasserman (rebranded The Team in March) to majority owner Providence Equity Partners. The sale caps a sale process launched in February and matters because it follows a turbulent period for Wasserman, who faced an artist exodus and industry scrutiny after being named in Department of Justice documents linked to Jeffrey Epstein and Ghislaine Maxwell.
The deal is expected to close in the second half of 2026, with veteran executive Mike Watts, who had steadied the company since February, taking over as CEO; Wasserman's exit fee was undisclosed. Bidding, run through investment bank Moelis & Co, attracted interest from United Talent Agency and Patrick Whitesell's WIN, but Providence, which first invested in November 2022, ultimately retained control. Wasserman, who is staying on to lead Los Angeles' 2028 Olympics effort, said he "leaves with pride"; The Team now employs around 4,000 people across sports representation, music (via the Paradigm acquisition), production management firm Brillstein and marketing services.
In short
- Casey Wasserman sells his stake in The Team to Providence Equity Partners
- Mike Watts becomes CEO; deal expected to close later in 2026
- Follows fallout from Wasserman's naming in Epstein-related DOJ documents
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The transition offers a constructive path forward for all stakeholders. Providence Equity's continued investment and appointment of experienced executive Mike Watts as CEO demonstrates confidence in the company's long-term potential. Separating Wasserman's personal circumstances from the company's operations allows it to refocus on serving clients and employees across its substantial sports, music, production and marketing divisions.
The case against
The sale reflects significant underlying difficulties that Wasserman's company has faced. The artist exodus and industry scrutiny documented in this period reveal genuine reputational damage. Wasserman's departure from a company he founded and built over two decades suggests that the firm has been materially weakened by association with scandal, requiring outside capital and new leadership.
Explained simply
Casey Wasserman founded his entertainment and sports management company 24 years ago, building it into a large operation representing athletes, musicians and creative professionals. The firm now operates as The Team with roughly 4,000 employees across sports representation, music, production and marketing services.
In recent years, Wasserman's company faced significant difficulties, with major clients departing and increased scrutiny after his name appeared in Department of Justice documents linked to Jeffrey Epstein and Ghislaine Maxwell. He then sold his ownership share to Providence Equity Partners, which now controls the business.
Mike Watts, a veteran entertainment industry executive, will take over as the company's chief executive. Wasserman is remaining with the business in a different capacity, overseeing Los Angeles' preparations for the 2028 Olympic Games.
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