Who Owns Wasserman?

Casey Wasserman founded Wasserman Media Group (WMG) in 2002 in Los Angeles. Wasserman is the grandson of Lew Wasserman, the legendary Hollywood talent agent and MCA president who shaped the modern entertainment industry. Casey Wasserman started the agency months after his grandfather's death, applying lessons learned from Lew about relationship-driven representation.

The agency's first acquisition was Envision Group, a naming-rights and sports marketing firm founded by Jeff Knapple, purchased in 2002. This gave Wasserman an immediate foothold in corporate sponsorship sales. In 2005, the agency acquired The Familie, an action sports representation firm based in Carlsbad, California, giving Wasserman a roster in skateboarding, snowboarding, and freestyle motocross at a time when the X Games were growing.

In January 2006, Wasserman made a transformative acquisition: the NBA and MLB player representation business of Arn Tellem, one of the most powerful sports agents in the industry. Tellem and several colleagues joined the company, and until his retirement in June 2015, Tellem ran one of Wasserman's management groups. This deal established Wasserman as a major force in basketball and baseball representation.

In November 2006, Wasserman acquired the soccer, rugby, marketing, and events divisions of SFX Sports Group Europe. This acquisition brought a roster of soccer players including Steven Gerrard, Robbie Keane, Jamie Carragher, Michael Owen, and Tim Cahill. The SFX deal made Wasserman one of the dominant soccer agencies globally, a position it has maintained and expanded.

In 2007, Wasserman acquired OnSport, a corporate and property consulting firm, adding capabilities in sponsorship consulting and property representation. The agency continued expanding through acquisitions, purchasing CSM Agency in 2023 and the music division of Paradigm in 2021, which brought a roster of music artists into the portfolio.

In 2012, Highbridge Capital Management invested approximately $25 million for a minority position, making it the first outside investor in Wasserman Media Group. Wasserman used the capital for acquisitions and overseas expansion, particularly in Europe, Asia, and South America.

In 2016, Wasserman Media Group rebranded as Wasserman and was frequently referred to as "Team Wass." By 2019, the agency earned over $200 million in commissions, making it the second most profitable sports agency that year. In 2020, Wasserman was again the second most valuable sports agency, earning $331 million in commissions and signing $5.7 billion in contracts.

Providence Equity Partners first invested in 2022, acquiring a majority stake. Under Providence's backing, the agency continued acquiring companies, building out its music, broadcasting, and international soccer marketing businesses. Revenue reached approximately $994 million in 2025, with EBITDA of $185 million. Providence projected 10% EBITDA growth for 2026, targeting over $200 million.

In February 2026, the Epstein files disclosure forced Casey Wasserman to step down and sell his stake. The company rebranded to The Team in March 2026. Despite the reputational crisis, the agency's financial performance remained strong, and Providence secured a $3.4 billion valuation for the full buyout, a 15.8x EBITDA multiple based on projected 2026 EBITDA of $215 million.