The deal for CSM, led by the company’s chief executive Matt Vandrau, was unveiled in July.

Financial terms have not been disclosed.

The Wasserman Media Group was founded by Casey Wasserman, the chair of the Los Angeles 2028 Organising Committee.

Coe is a non-executive chair of CSM, a global sport and entertainment agency, and has been part of the sports marketing firm for more than a decade.

The deal is widely seen as Coe preparing to launch a bid to succeed Thomas Bach as President of the International Olympic Committee (IOC) when the German is due to step down in 2025.

The move further broadens Wasserman's reach in sport, as well as music and entertainment, expanding tailored services it can offer through a network of relationships with brands, properties and talent in 27 countries and 62 cities worldwide.

The Wasserman Media Group claim the two companies were "a natural fit."

CSM’s clients include Major League Baseball, the National Football League (NFL), cricket’s The Hundred and World Netball, while last year it worked with the Commonwealth Games in Birmingham.

Wasserman, a sports marketing and talent management company, represents top NFL players, English Premier League footballers and some of the world's leading boxers, as well as Olympic and Paralympic athletes.

Wasserman was pleased to get the deal over the line.

"The completion of the Wasserman-CSM deal is another exciting and important milestone in Wasserman’s growth as we continue to build a company that serves the best talent, brands and properties across the world," he said.

"I, along with the entire Wasserman team, am looking forward to working with Matt Vandrau and his colleagues as part of a world-class management group running a global platform that powers the business of sports, music, entertainment and culture."

It is expected that Coe will step down as chairman of CSM before launching a campaign to run for IOC President to avoid claims of conflict of interest.

The 67-year-old Coe, who played a crucial role in London winning the 2012 Olympic and Paralympic hosting rights, had previously sold his consulting business, Complete Leisure Group, to the Chime Challenger Network, the parent company of CSM Sport & Entertainment, 11 years ago.

According to reports, the former Conservative MP earned £12 million ($14.5 million/€13.8 million) for the sale of Complete Leisure Group.

Double Olympic 1500 metres gold medallist Coe is seen as one of the leading candidates to succeed Bach as IOC President when he leaves after completing the maximum 12-year term in the role.

Other potential candidates include Spain’s Juan Antonio Samaranch, Zimbabwe’s two-time Olympic swimming gold medallist Kirsty Coventry and Japan’s International Gymnastics Federation President Morinari Watanabe.