Providence Equity Partners is finalizing an agreement to buy out Casey Wasserman and assume full ownership of the sports, music & entertainment agency recently renamed The Team, according to a new report from Matt Belloni at Puck.
Belloni, who broke the news Wednesday, reported that the proposed transaction values The Team at approximately $3.4 billion—higher than the roughly $3 billion valuation previously associated with the sale process. The agreement has not yet been signed and is not expected to close for several weeks, according to Belloni, who attributed the information to two sources familiar with the negotiations.
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