As part of its efforts to sell the company, Wasserman, a well-known talent agency for sports and entertainment, has changed its name to “The Team.” This decision comes after founder Casey Wasserman decided to sell his stake because of problems.
The agency’s website now takes you to the.team, where there is a message saying that client service will continue as usual even though the name has changed. Casey Wasserman started the company 24 years ago. It now manages more than $9.5 billion in contracts for top athletes like Yoshinobu Yamamoto, Giancarlo Stanton, Klay Thompson, and Connor McDavid. The new name marks a new beginning, with an emphasis on working together in music, sports, and entertainment.
Providence Equity Partners, the majority owner, backs Wasserman’s plan to sell his 40% stake and has hired investment bank Moelis to lead the process. Talks started in the middle of February after it came out that Wasserman had worked with Ghislaine Maxwell in the past. Wasserman has stopped running the business every day, making room for new leaders.
After the controversy, a number of artists, such as ODESZA, REZZ, and Subtronics, have cut ties with the agency. The company tells its global clients that the transition is business as usual, even though things are a little crazy.
