Letters of intent “were due this week as the sale process narrows” for The Team, the sports and talent agency formerly known as Wasserman, according to Matthew Belloni of the PUCK. Sources said that UTA (with its private equity backer, EQT) is “still in the mix,” as is Excel Sports Management/Goldman Sachs, the U.K.’s Primera, and Swiss P.E. firm Partners Group. One development is that founder Casey Wasserman, who along with majority owner Providence, has “final say over who buys either all or part of the company.” Wasserman “wants to be paid a control premium, as well as extra fees to give up his ability to compete with and solicit clients and employees of his soon-to-be-former firm” (PUCK, 6/11).
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