Wasserman Group, the talent management and sports marketing company will get a new name after founder by Casey Wasserman sells his 40 percent stake in the business.
Providence Equity Partners, which holds around 60 percent of the firm, is already in the process of selecting new branding for the agency once Wasserman has made his exit, according to a report by TheWrap on Sunday.
Wasserman, 51, announced in a memo to the company’s 4,000 staffers that he would sell his stake in the company following increased calls from some of the agency’s clients that he step down after it was revealed that he has prior relationships with Jeffrey Epstein and Ghislaine Maxwell.
In recently uncovered government documents, Wasserman was shown to have taken a trip to Africa aboard Epstein airplane and exchanged several flirtatious emails with Maxwell in 2003.
Maxwell is serving a 20-year prison sentence in connection with helping recruit victims and Epstein killed himself in a New York jail in 2019.
“This organization, its leadership and the entire team mean the world to me,” Wasserman’s note said to the company’s staff. “Our 4,000 employees are the absolute best in the business. I see you put it all on the line for your clients every day. Our clients expect – and deserve – world-class representation. And that’s exactly what they get because of all of you.”
It is unclear whether Wasserman’s portion of the agency would be sold to Providence or bidding on the open market would be an option. The Rhode Island-based equity firm first invested in the agency in 2022 and has boosted its holdings in the Wasserman company in the past three years.
On Friday, agency president Mike Watts was named as the interim chief and will lead the company in the next stages of its transition. And the next day, Providence put its support behind Watts at a time when restoring solidarity in an large roster of clients is an immediate priority.
“We believe deeply in the strength of the company and have full confidence in Mike and the leadership team, as well as in the exceptional employees across the organization,” a spokesperson for Providence Equity said in a statement. “We remain fully committed to investing in its growth, expanding its capabilities across sports, music, and entertainment, and supporting the extraordinary talent, brands and properties the company is proud to represent.”
The Wasserman agency is among the top talent powerhouses in Hollywood and represents music acts like Coldplay, Kendrick Lamar, Ed Sheeran, Pharrell Williams, Lorde and Imagine Dragons along with numerous athletes like Klay Thompson, Giancarlo Stanton, Alex Morgan, Megan Rapinoe, Paige Bueckers and Rickie Fowler.
Last week, some of Wasserman’s clients were more then vocal about their desire to seek representation elsewhere as retired U.S. women’s soccer star Abby Wambach announced that she has left the agency. Singer Chappell Roan and indie rock band Beach Bunny also revealed that they had cut ties with the agency.
In a post on social media, Wambach confirmed that she had distanced herself from the firm.
“I have left the Wasserman Agency. I read Casey Wasserman’s correspondences in the Epstein files,” the post read. “I know what I know, and I am following my gut and my values.I will not participate in any business arrangement under his leadership. I also need to say this: I’m grateful to my agent, who l’ve known for almost 20 years and trust. Casey should resign. He should leave, so more people like me don’t have to. I am unclear of my next steps. That’s OK with me, I just know where I can’t be.
Abby.”
The fallout, however, has not impacted Casey Wasserman’s standing in his ongoing leadership role as chairman of the 2028 Los Angeles Olympics.
Board members of the organizing committee of the Games pledged their support behind Wasserman and said their own independent inquiry regarding his interactions with Epstein and Maxwell did not warrant his removal from his position.
“We found Mr. Wasserman’s relationship with Epstein and Maxwell did not go beyond what has already been publicly documented,” the executive committee said in a statement. “The Executive Committee of the Board has determined that based on these facts, as well as the strong leadership he has exhibited over the past ten years, Mr. Wasserman should continue to lead LA28 and deliver a safe and successful Games.”
