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Wasserman (US) acquires Flanders’ Squadra Sports Management

The American Wasserman Group has taken over Flanders-based Squadra Sports Management. By acquiring the management agency behind professional cyclists such as Julian Alaphilippe, Lotte Kopecky and others, Wasserman aims to plunge into the international cycling market.

Cycling agent meets entertainment group

Squadra Sports founder and CEO Dries Smets is considered one of the most important agents in the cycling world. His company and portfolio have now been acquired by sports, music & entertainment group Wasserman. Following the takeover, the Flanders-based business will operate under a new name: Wasserman Cycling.

Wasserman is a global sports industry giant based in the US. Founded by Casey Wasserman at the turn of the century, the group is active in 23 countries and manages top athletes from different sports, including soccer and NBA players, swimmers, golfers, boxers and more. Currently, founder and owner Casey Wasserman is also chairman of the Olympic Committee for the 2028 Games in Los Angeles.

Tapping into the cycling segment

In addition to sports, Wasserman also focuses on music and entertainment – with big names like Coldplay, Billie Eilish and Ed Sheeran on the list of references. Across all its focus domains, Wasserman has over 2,000 clients, including some 800 soccer players.

According to Forbes, all of this adds up to nearly USD 9 billion in contracts, making Wasserman the second company on the Forbes list of sports agencies. With the acquisition of Squadra Sports, Wasserman will now tap into the cycling market as well.

Mutual benefits

Acquiring Squadra Sports’ cycling portfolio fits within Wasserman’s strategy and track record. Earlier this year, the American sports and entertainment company already freed up several million to create the Circuit Racing International Tour (CRIT) to secure the future of American cycling.

Squadra Sports’ cyclists could also benefit from the acquisition. For years, Wasserman has been upping the ante when it comes to social media community building, commercial sponsorship deals and marketing activations for top athletes. The cycling world still has a lot of steps to take in this respect. With the new insights and partners Wasserman brings in, cyclists could get even more out of their careers.

More info

Reported by
newspaper De Tijd
25 July 2023

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