Providence Equity Partners has made an additional investment in THE TEAM to finance the acquisition of founder Casey Wasserman’s remaining ownership interest. The transaction follows a competitive sale process involving several rounds of bids from prospective buyers and investors.
Providence first invested in the sports, music and entertainment company in 2022 and will remain its majority investor following the transaction. Financial terms were not disclosed, and the deal is expected to close during the second half of 2026, subject to customary closing conditions.
Wasserman founded the business as Wasserman Media Group in 2002 and spent more than two decades developing it into an international marketing and talent representation company. THE TEAM now provides representation and marketing services to talent, brands and properties across 28 countries and more than 70 cities.
Michael Watts, who has served as president since 2014 and assumed day-to-day control in February 2026, will become CEO when the transaction closes. Watts has been part of the company’s leadership since its founding and will oversee its next phase as an independently managed Providence portfolio company.
Providence plans to continue supporting organic expansion and strategic acquisitions across sports, music and entertainment. The company operates in markets benefiting from demand for live experiences, athlete and artist representation, brand partnerships, sponsorships and entertainment marketing.
Support: J.P. Morgan Securities is serving as Providence’s exclusive financial advisor, while Kirkland & Ellis is acting as its legal counsel. Moelis & Company is advising THE TEAM, BDT & MSD Partners is advising Wasserman, and Sullivan & Cromwell is providing legal counsel to Wasserman and the company.
KEY QUOTES:
“We’re incredibly excited to further strengthen our partnership with THE TEAM. The robust interest in the company throughout this process only reinforced our belief in the business and enthusiasm for its next phase of growth. Our additional investment also reflects our conviction in the long-term growth in demand for in-person experiences across sports, music, and entertainment and the brands, talent, and partnerships that bring those moments to life.”
Davis Noell, Senior Managing Director and Co-Head of North America at Providence Equity Partners
“The truest measure of anything you build is whether it can thrive beyond you, and that was always my goal when I founded what was then called the Wasserman Media Group 24 years ago. What began as a small agency with big ambitions is today a global leader.”
“THE TEAM is powered by extraordinary people and trusted by the world’s greatest talent, brands, and properties. I leave with pride in what we created together, gratitude for those who made it possible, and confidence in what comes next. Sports, music, and entertainment are the languages the whole world speaks, and THE TEAM’s future is bright.”
Casey Wasserman, Founder of THE TEAM
