Windfall Fairness Companions is reportedly finalizing a deal to take full management of THE•TEAM, the sports activities, music and leisure company previously referred to as Wasserman.
The private-equity agency already owns round 60% of the enterprise and is ready to purchase out founder Casey Wasserman‘s remaining stake.
That’s in keeping with Puck‘s Matt Belloni, who reported the event on Thursday (July 23), citing two individuals aware of the state of affairs.
The transaction values THE•TEAM at roughly USD $3.4 billion, in keeping with the report.
The deal has not but been signed and is predicted to shut within the coming weeks, Puck added.
Slightly than usher in a brand new outdoors co-owner, Windfall has opted to extend its funding and take sole management of the company.
The method was overseen by funding financial institution Moelis & Firm.
The months-long public sale drew roughly a dozen bidders, in keeping with Puck, together with expertise company United Expertise Company. Others kicking the tires included two private-equity corporations: Permira plus New Mountain Capital, the house of BMI.
Wasserman, who has reportedly agreed to a noncompete settlement as a part of the transaction, stays Chairman of the LA28 organizing committee for the 2028 Los Angeles Olympic Video games.
The sale course of started in February, when Wasserman introduced he would step away from the corporate and discover a sale of his possession stake.
His resolution adopted the discharge of US Division of Justice paperwork in late January that included correspondence from 2003 between Wasserman and Ghislaine Maxwell, an affiliate of Jeffrey Epstein.
Maxwell was sentenced in 2022 to twenty years in jail for conspiring with Epstein to abuse minors.
The correspondence occurred earlier than Maxwell’s crimes got here to mild, and Wasserman has not been accused of any criminal activity in reference to the paperwork.
In a press release issued shortly earlier than he stepped down, Wasserman stated: “I deeply remorse my correspondence with Ghislaine Maxwell,” including that it occurred “lengthy earlier than her horrific crimes got here to mild.”
“I by no means had a private or enterprise relationship with Jeffrey Epstein… I’m terribly sorry for having any affiliation with both of them,” Wasserman stated.
Quite a lot of the company’s shoppers lower ties within the wake of the disclosures, together with Grammy-winning artist Chappell Roan.
The LA28 govt committee individually reviewed Wasserman‘s previous interactions earlier this 12 months and voted unanimously to maintain him within the function.
Wasserman rebranded as THE•TEAM in March.
THE•TEAM‘s operations span sports activities illustration, music, model advertising and talent-management agency Brillstein Leisure Companions, which it acquired in 2023 and whose shoppers embody Brad Pitt and Russell Crowe.
Its music shoppers embody Kendrick Lamar, SZA, Travis Scott, Kenny Chesney, Coldplay, BLACKPINK, Noah Kahan, Tyler, the Creator and Fred once more..
Casey Wasserman, the grandson of leisure mogul Lew Wasserman, based the company in 2002.
He moved into music in 2021 with the acquisition of Paradigm Expertise Company‘s North American stay music illustration enterprise, which turned Wasserman Music.
Windfall first invested in Wasserman/THE•TEAM in 2022 and has since grown its holding to a majority.
Windfall‘s involvement in music extends past expertise illustration.
In 2019, the agency launched Tempo Music Investments in partnership with Warner Music Group, a fund created to amass recorded music and publishing catalogs.
Tempo went on to amass rights and earnings streams tied to artists together with Wiz Khalifa, Florida Georgia Line and Twenty One Pilots‘ Tyler Joseph.
Warner Music Group acquired a majority stake in Tempo in February 2025, in a deal that valued the fund at greater than $450 million, with Windfall retaining a minority holding.
Moelis & Firm, the financial institution overseeing the THE•TEAM sale, additionally suggested Windfall on that transaction.
Windfall‘s ties to Warner Music Group stretch again additional nonetheless: it was a part of the investor group that acquired the corporate from Time Warner in 2004.Music Enterprise Worldwide
