Wasserman Group has officially rebranded to THE·TEAM as the agency continues to hammer out the details after parting ways with now-controversial founder Casey Wasserman.
The name change, announced Monday (March 9), is a nod to the agency’s former moniker “Team Wass.” This follows the release of emails between Wasserman and convicted Jeffrey Epstein associate Ghislaine Maxwell, leading to a mass exodus of music clients. Though nothing in the documents implicates Wasserman in a crime, he agreed earlier this month to sell his namesake agency to get past the “distraction.”
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“For 24 years, this company has been shaped by our work, our people and our unifying belief in the power of Sports, Music and Entertainment,” THE·TEAM says in a statement announcing the new name. “That philosophy remains the foundation of who we are — and where we are going. We go forward as we always have: Together.”
Negotiations are still underway for the sale of Wasserman’s stake in the agency, which includes valuable sports, music and brand divisions. Forbes estimates that the entertainment mogul owns roughly 40% of the business, with the rest held by private investment firm Providence Equity Partners.
Wasserman’s name became controversial after it popped up in the millions of pages released on Jan. 30 by the Department of Justice as part of the Epstein Files Transparency Act. These files included risqué emails from 2003 between Wasserman, who was then married, and Maxwell, who is now serving prison time following her conviction for trafficking underage girls on Epstein’s behalf.
The exchanges between Wasserman and Maxwell occurred years before her crimes came to light, and nothing in the documents suggests that Wasserman engaged in any wrongdoing. But numerous artists departed the agency in the fallout, including Chappell Roan, Orville Peck and Sylvan Esso.
Wasserman announced his exit in a Feb. 13 company-wide memo, writing, “I’m deeply sorry that my past personal mistakes have caused you so much discomfort. It’s not fair to you, and it’s not fair to the clients and partners we represent so vigorously and care so deeply about.”
“Our clients expect — and deserve — world-class representation. And that’s exactly what they get because of all of you,” wrote Wasserman at the time. “At this moment, I believe that I have become a distraction to those efforts. That is why I have begun the process of selling the company, an effort that is already underway.”
It’s not yet clear whether the newly-renamed THE·TEAM will be sold as a single entity or in parts, and the buyer (or buyers) have not yet been publicly identified. The sale could reshape the concert booking market, especially if a competitor like CAA, WME or UTA were to acquire the agency’s music division, which boasts clients including superstars Ed Sheeran, Coldplay, Kendrick Lamar and SZA, plus a heavy slate of dance acts like Skrillex, Rüfüs Du Sol and Swedish House Mafia.
Additional reporting by Eric Renner Brown.
