Providence Equity Partners is set to gain full ownership of THE•TEAM through an internal transaction confirmed in a company memo. The deal builds on the firm's existing stake since 2022.
Leadership at THE•TEAM circulated a memo to staff on July 28 confirming the sale process had concluded. The memo states that Providence Equity Partners will invest additional capital to support a transaction acquiring Casey Wasserman's remaining ownership interest.
The sale is expected to close within the next 45 to 60 days. Mike Watts has served as interim CEO since Wasserman's departure earlier this year.
THE•TEAM, formerly known as Wasserman, includes divisions such as Wasserman Music and Brillstein Entertainment Partners. Its touring roster features Ed Sheeran, Coldplay, Imagine Dragons, Kendrick Lamar, SZA and Tyler, the Creator.
