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.