- Tie-up would build further scale for Wasserman
- Agency bolstered various divisions last year
Agency giant Wasserman is in advanced talks to acquire CSM Sport & Entertainment, according to Sky News.
A deal for London-based CSM, which counts World Athletics president Sebastian Coe as its non-executive chairman, could reportedly be agreed as soon this week although it is understood talks could yet collapse.
Sports and entertainment agency CSM’s clients include Hong Kong-headquartered insurance company AIA, the main sponsor of Premier League outfit Tottenham Hotspur. It was also handed the sponsorship sales brief for the 2023 Netball World Cup.
Wasserman, which represents the likes of Manchester City defender John Stones, made a string of notable acquisitions in 2022, including The Montag Group, Esportif, Mullhaupt Management, Jey Sports Management and BSE Media Group.
The deal for CSM would make sense given Chime Communications, CSM’s parent company, and Wasserman count Providence Equity Partners as a common shareholder after the firm invested in Wasserman last November.
As well as strengthening its service portfolio, Sky News notes that CSM falling under the Wasserman banner would continue the global trend of consolidation among groups spanning media rights, athlete representation and sponsorship activation.
In Wasserman’s case, building further scale would also come at a time when new players are emerging into the sports space, notably Saudi Arabia and its Public Investment Fund (PIF), which owns Newcastle United and is bankrolling LIV Golf.
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