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Full Buyout and $3.4 Billion Valuation
Private equity firm Providence Equity Partners is reportedly finalizing a deal to take 100% ownership of THE•TEAM—the sports, music, and talent agency previously known as Wasserman.
Providence, which already holds a 60% majority stake in the company, plans to buy out founder Casey Wasserman’s remaining 40% interest. According to industry reports, the transaction values the agency at roughly $3.4 billion. The deal was managed by investment bank Moelis & Company and drew interest from approximately a dozen suitors, including United Talent Agency, Permira, and New Mountain Capital, before Providence opted to acquire full control outright.
Background and Founder Exit
The sale process began in February after Casey Wasserman announced he would step down and sell his stake. The announcement followed the release of U.S. Department of Justice documents containing 2003 correspondence between Wasserman and Ghislaine Maxwell.
Although the communications predated Maxwell’s public criminal charges and Wasserman was not accused of any illegal activity, he publicly expressed deep regret for the association. Following client departures—including high-profile music artists such as Chappell Roan—the agency rebranded from Wasserman to THE•TEAM in March. As part of the pending deal, Wasserman has reportedly agreed to a noncompete clause while retaining his role as Chairman of the LA28 Olympic Games organizing committee.
Agency Operations and Catalog Ties
Founded in 2002 by Casey Wasserman, the agency entered live music in 2021 by acquiring Paradigm Talent Agency’s North American live music business.
Today, THE•TEAM represents top-tier music talent—including Kendrick Lamar, SZA, Travis Scott, Drake, Coldplay, and BLACKPINK—alongside its sports division and management firm Brillstein Entertainment Partners. Buyer Providence Equity Partners also maintains extensive music rights footprint; the firm co-founded catalog investor Tempo Music Investments alongside Warner Music Group in 2019 before WMG acquired a majority stake in the fund in 2025.
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