Providence Equity Partners has assumed full ownership of THE•TEAM, the talent and sports agency formerly known as Wasserman, after acquiring founder Casey Wasserman's remaining stake in the business. The firm was already THE•TEAM's majority owner and has been its strategic investor since 2022. Providence confirmed the transaction in a press release on July 29, 2026, one day after Billboard obtained an internal company memo announcing the conclusion of the sale process Billboard.

The memo, quoted by Billboard, told staff: "We are pleased to confirm that our sale process has concluded with Providence Equity Partners, our existing investor and partner since 2022, investing additional capital into the company." It described the process as "highly competitive, with strong interest from many parties and multiple bidders at the finish line." The sale is expected to close within 45 to 60 days of the memo's date. THE•TEAM did not immediately respond to Billboard's request for comment. News of the deal was first reported by Puck.

Providence's own release, issued through PRNewswire, was titled "Providence Equity Partners Announces Additional Investment in THE•TEAM to Support Acquisition of Founder's Ownership Interest" PRNewswire.

The sale brings to a close a turbulent chapter for the agency. In February 2026, Casey Wasserman announced he would sell the business after his ties to Ghislaine Maxwell, the convicted associate of Jeffrey Epstein, were revealed in the Epstein files. Several artists on the Wasserman roster called for his departure and either left or threatened to leave. The following month, the agency rebranded as THE•TEAM, removing Wasserman's name from the company. Mike Watts assumed the role of CEO following Wasserman's departure.

THE•TEAM is a sprawling operation. Its divisions include Wasserman Music, Wasserman Sports, the Montag Group, Brillstein Entertainment Partners, and a Brands & Properties unit. The music team was built after Wasserman acquired Paradigm's music holdings in 2021, and the touring roster now includes Ed Sheeran, Coldplay, Imagine Dragons, Kendrick Lamar, SZA, and Tyler, the Creator. As of April 2026, the Los Angeles Times reported the agency was expected to be valued at around $3 billion Los Angeles Times.

Potential bidders for the agency included UTA, backed by the private equity firm EQT; Patrick Whitesell's WIM; and Excel Sports Management, working with Goldman Sachs. In the end, the existing investor prevailed.

As recently as March 9, 2026, the Billboard Bulletin reported that it was not yet clear whether the renamed agency would be sold as a single entity or broken into parts, and the buyer had not been identified. Four months later, that question has been answered: Providence kept the whole thing together and bought out the founder.