Gersh Buys Sports Agency to Fuel Expansion Plans

by

As a long-time follower of the entertainment industry, I can hardly contain my excitement about this latest move by Gersh! The acquisition of You First is not just a strategic step, it’s a giant leap forward for Gersh, marking their entry into the lucrative pro athlete space. It’s like watching a well-crafted screenplay unfold – each character perfectly placed, each plot twist meticulously planned.

After scouring the market for potential deal opportunities, Gersh is ready to take a big swing.

On Tuesday, the company based in Beverly Hills announced that they are purchasing the sports and entertainment agency You First, which is located in Madrid. This move represents a significant step for them as they aim to secure a strong position in the profitable professional athlete market.

Excitedly, I’m thrilled to share that as a part of our acquisition deal for Juan Aísa’s representation and consulting firm, we, at Gersh, are expanding our team significantly! We’re looking forward to doubling our workforce, growing from our current size to approximately 600 talented individuals. This growth comes with the addition of an agency that’s already making waves in 13 countries worldwide.

By establishing a sports division, Gersh is strategically targeting a segment of the talent representation market that’s currently dominated by the leading Hollywood agencies – CAA, WME, UTA, and management firm Wasserman. These industry giants already have established divisions and extensive rosters of professional athletes under their management.

Steve Gersh, a senior partner, expressed that expanding into sports representation is a logical progression in our agency’s development. By purchasing You First, we aimed to secure a partner who could offer worldwide reach, a variety of sports, and robust leadership.

Established in 2002, this agency is known for its specialization in representing prominent soccer and basketball players such as Fabián Ruiz, Alexia Putellas, Milos Kerkez, Christoph Baumgartner, Luis de la Fuente, Desmond Bane, Jarrett Allen, Jeremy Sochan, Ray Allen, and Vince Carter. Additionally, they have collaborated on marketing campaigns with various clients like Formula 1, Wrexham FC, Samsung, and Starbucks.

Aísa mentioned that teaming up with Gersh boosts our standing in the industry and enables us to provide even more robust assistance to our customers,” is a natural and easy-to-read paraphrase of the original statement.

This purchase is the second substantial one made by Gersh, headed by co-presidents Bob Gersh, David Gersh, and Leslie Siebert, since they sold a 45% stake to investment firm Crestview Partners in 2023 with the aim of boosting their growth via strategic acquisitions. Back then, Gersh employed approximately 300 people and had around 125 agents on board.

For the first time since its establishment in 1949, Gersh accepted an equity partner with the Crestview investment. Earlier this year, they recruited approximately 45 employees and 25 agents as part of a deal to acquire the digital and alternative departments from the struggling A3 Artists Agency, which was in the process of shutting down due to legal disputes over potential sale negotiations with Gersh.

Steve Stanford, Gersh’s head of strategy, emphasized that as the agency expands, our aim is to diversify into new fields of representation, strengthen our primary operations, and establish a network where all clients, regardless of division, can gain directly from these expanded abilities. Gersh has always occupied a special niche in the representation industry, and we strive to grow the business without compromising its strengths: dedicating ourselves to individuals and their aspirations,” he added.

Read More

2024-12-03 17:54