Wasserman (The Team)

Who owns Wasserman?
Wasserman, now operating as The Team, is majority-owned by Providence Equity Partners. Providence acquired a 60% stake in November 2022 and announced an additional investment in July 2026 to acquire founder Casey Wasserman's remaining ownership interest. The transaction valued the agency at approximately $3.4 billion. Wasserman is a private company and is not publicly traded.

Is Wasserman publicly traded?
No. Wasserman is a private company. Providence Equity Partners owns a majority stake, and founder Casey Wasserman sold his remaining ownership interest in a 2026 transaction. The company does not file public financial reports. Some financial details have been disclosed through S&P Global reports and media coverage.

When was Wasserman founded?
Wasserman was founded in 1998 by Casey Wasserman as Wasserman Media Group. The company started as a sports marketing and talent management firm and grew into a global sports, music, and entertainment company. In 2026, the company rebranded as The Team.

What is Wasserman's ranking among sports agencies?
Wasserman ranked second on the Forbes 2025 Most Valuable Sports Agencies list with approximately $956 million in maximum commissions, behind CAA at $1.143 billion. The agency's commissions grew 31% over three years. In 2024, Wasserman's sports unit generated approximately $266 million in revenue from 4,500 sports clients.

What happened with Casey Wasserman in 2026?
In early 2026, files related to Jeffrey Epstein revealed flirtatious emails that Casey Wasserman had sent in the early 2000s to Ghislaine Maxwell. Clients including Chappell Roan and Abby Wambach left the agency. Wasserman announced he would sell the company, which rebranded as The Team. Providence Equity Partners acquired his remaining stake in a transaction valuing the agency at approximately $3.4 billion.

What services does Wasserman provide?
Wasserman provides athlete talent representation across basketball, baseball, football, hockey, soccer, and other sports. The company also offers brand consulting, property representation, sports broadcaster representation through The Montag Group, and music and entertainment management through Brillstein Entertainment Partners and Wasserman Music.

Where is Wasserman headquartered?
Wasserman is headquartered in Los Angeles, California, USA. The company operates globally with offices across more than 30 countries, including significant presence in the United States, the United Kingdom, Canada, the United Arab Emirates, and Spain.

What is Wasserman's revenue?
Wasserman does not publicly disclose revenue. An S&P Global report from June 2025 indicated the company's sports unit generated approximately $266 million in revenue in 2024, representing nearly 30% of total revenue, implying total company revenue of approximately $900 million. The Team was on track for approximately $215 million in adjusted EBITDA in 2026.

Casey Wasserman founded the company in 1998 as Wasserman Media Group (WMG). Wasserman, the grandson of legendary MCA executive Lew Wasserman, started the business after purchasing the Los Angeles Avengers arena football team. The agency began as a sports marketing and talent management firm focused on connecting athletes with corporate sponsors.

Through the 2000s, Wasserman Media Group built its talent representation practice. The agency focused on basketball and soccer, signing NBA players and representing soccer talent globally. The company developed a strong presence in athlete endorsement deals, helping athletes secure marketing partnerships with shoe companies, phone makers, and consumer brands.

In 2019, Wasserman earned over $200 million in commissions, making it the second most profitable sports agency that year. That same year, Wasserman became the first agency to have a client selected in the first round of all six of North America's major team sports drafts. In 2020, Wasserman was again the second most valuable sports agency, earning $331 million in commissions and signing $5.7 billion in contracts.

The company expanded beyond sports into music and entertainment. Wasserman acquired Brillstein Entertainment Partners, a management-production firm, adding music and entertainment clients to its portfolio. This move diversified the company beyond pure sports representation and positioned it in the broader talent management market.

Wasserman pursued a rollup strategy, acquiring a number of agency, management, and marketing businesses. The company acquired trevor//peter, a brand and communications agency, and Laundry Service (247LS), a creative agency. Wasserman also acquired CSM Sport and Entertainment, a UK-based sports marketing agency, expanding its international footprint.

In 2023, Wasserman acquired The Montag Group, a sports broadcasting talent agency founded by Sandy Montag. The acquisition added high-profile broadcasters including Jim Nantz, Mike Tirico, and Scott Van Pelt to Wasserman's client roster. The deal strengthened Wasserman's post-career media representation offering for athletes.

In February 2022, RedBird Capital acquired between a 30% and 40% stake in Wasserman. In November 2022, Providence Equity Partners acquired a 60% stake in the company, making Providence the majority owner. Casey Wasserman retained a significant minority stake and continued as Chairman and Chief Executive Officer.

In 2025, Wasserman continued to expand. The company expanded its NHL division and invested more than $100 million in a European soccer agency. Wasserman and CAA tied for the most NBA Draft picks in the 2025 draft, according to Sports Business Journal.

In early 2026, the company faced a crisis. A dump of files related to Jeffrey Epstein revealed flirtatious emails that Casey Wasserman had sent in the early 2000s to Ghislaine Maxwell, a close Epstein associate. The emails had an immediate impact on Wasserman's business. Clients including pop star Chappell Roan and soccer star Abby Wambach left the agency. Employees expressed concerns. In mid-February 2026, Wasserman announced he would sell the agency. In March 2026, the company changed its name to The Team.

In July 2026, Providence Equity Partners announced an additional investment to acquire Casey Wasserman's remaining ownership interest. The transaction valued the agency at approximately $3.4 billion, according to a source with direct knowledge of the negotiations. The Team was on track for $215 million in adjusted EBITDA in 2026. Michael Watts, who had served as President since 2014 and assumed day-to-day control in February 2026, was elevated to Chief Executive Officer upon transaction close.

As a private company, Wasserman does not publish a formal annual sustainability or ESG report. The company's public disclosures on environmental and social performance are limited compared to publicly traded competitors.

The company has highlighted diversity and inclusion initiatives within its talent representation and corporate practices. Wasserman has supported programs aimed at increasing representation of women and underrepresented groups in sports management and marketing.

The most significant ethical issue affecting Wasserman emerged in early 2026. Files related to Jeffrey Epstein revealed flirtatious emails that founder Casey Wasserman had sent in the early 2000s to Ghislaine Maxwell, a close Epstein associate. The emails prompted client departures, employee concerns, and Wasserman's decision to sell his remaining ownership interest. The company changed its name to The Team and elevated Michael Watts to CEO as part of its response. The episode highlighted the reputational risks associated with founder-controlled private agencies.

Wasserman has been recognized consistently by Sports Business Journal and Forbes. The agency ranked second on the Forbes 2025 Most Valuable Sports Agencies list with approximately $956 million in maximum commissions. In 2019 and 2020, Wasserman was the second most valuable sports agency by commissions.

Wasserman and CAA tied for the most NBA Draft picks in the 2025 draft, according to Sports Business Journal. The agency has been a perennial leader in NBA and soccer representation.

Casey Wasserman was named to sports industry power lists and chaired the LA28 Olympic and Paralympic Games organizing committee, a role that raised the company's profile in Olympic sports marketing. His decision to sell the agency in 2026 followed the Epstein-related email controversy.

The most significant controversy affecting Wasserman emerged in early 2026. A dump of files related to Jeffrey Epstein revealed flirtatious emails that Casey Wasserman had sent in the early 2000s to Ghislaine Maxwell, a close Epstein associate. The emails had an immediate business impact. Clients including pop star Chappell Roan and soccer star Abby Wambach left the agency. Employees expressed concerns about the founder's judgment.

In mid-February 2026, Wasserman announced he would sell the agency. In March 2026, the company changed its name to The Team. In July 2026, Providence Equity Partners announced an additional investment to acquire Wasserman's remaining ownership interest in a transaction valuing the agency at approximately $3.4 billion. Michael Watts was elevated to Chief Executive Officer.

The ownership transition drew media attention from The Hollywood Reporter, Sportico, and Puck. Industry observers noted that the controversy accelerated a sale process that might otherwise have taken longer, and that Providence's existing 60% stake positioned it to consolidate ownership quickly.

No major regulatory or legal actions against Wasserman have been publicly documented. The company operates as a private talent agency subject to standard business regulations in the markets where it operates.