Wasserman is gone, say hello to “The Team.”
The talent agency founded by Casey Wasserman has officially rebranded, as its sale process kicks into high gear.
Visitors to Wasserman’s website Monday redirected them to a new URL, and a message from the operators.
“As of today, Wasserman is rebranding as THE·TEAM and you can now find us at the.team,” the message reads. “For 24 years, this company has been shaped by our work, our people and our unifying belief in the power of Sports, Music and Entertainment. That philosophy remains the foundation of who we are – and where we are going. We go forward as we always have: Together.”
Casey Wasserman announced last month that he would sell the firm he founded, with majority owner Providence Equity supporting the move. The firm hired the investment bank Moelis to lead the sale process shortly thereafter.
Interest in Wasserman’s business is expected to be robust, given its exposure to the sports and music sectors, which remain red hot.
Wasserman is expected to have a robust slate of potential buyers, both strategic and financial. Other talent agencies, like CAA, UTA and WME are seen as potential bidders, as is former Endeavor mogul Patrick Whitesell, who launched Silver Lake-backed investment firm WTSL last year.
Private equity firms are also circling, with many of those companies eager to gain exposure to the sports business. Bruin Capital and KKR’s Arctos are among the firms that may be interested, while Goldman Sachs inked a deal to acquire Excel Sports Management late last year (Moelis also advised Excel in that deal, which reportedly valued the firm at $1 billion).
It is not clear, however, whether Wasserman will sell itself whole, or sell off pieces to secure a higher return.
