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THE·TEAM Rises from Wasserman's Shadow
9 Mar
Summary
- Wasserman Group rebranded to THE·TEAM after founder's controversy.
- Founder Casey Wasserman is selling his stake due to email distractions.
- The agency's music division represents major artists like Ed Sheeran.
Wasserman Group has undergone a significant rebranding, now operating as THE·TEAM. This change follows a period of turmoil after emails surfaced connecting founder Casey Wasserman to Ghislaine Maxwell. Though not implicated in any wrongdoing, Wasserman initiated the sale of his stake in the agency to move past the "distraction" caused by the emails. The agency, known for its work across Sports, Music, and Entertainment, is emphasizing its enduring philosophy and collaborative spirit.
Negotiations are ongoing for the sale of Wasserman's approximately 40% ownership. The remaining stake is held by private investment firm Providence Equity Partners. The release of documents in January revealed risqué email exchanges from 2003 between Wasserman and Maxwell, who is currently imprisoned. Despite the exchanges predating her crimes, numerous artists departed the agency in the aftermath.
Wasserman announced his departure in a February memo, apologizing for the discomfort caused and stating his belief that he had become a "distraction." The future structure of THE·TEAM's sale, whether as a whole or in parts, remains undetermined. The potential acquisition of its music division, which boasts high-profile clients like Ed Sheeran and Coldplay, could significantly impact the concert booking market.
