Assante Corp. announced Tuesday that it has reached an agreement that will see sports agent Leigh Steinberg acquire a portion of the player representation business from Steinberg & Moorad, an Assante subsidiary. The sale is worth $6 million.

“This move will favourably impact Assante’s bottom line on a go-forward basis,” said Dr. Harvey Schiller, chief executive officer of Assante US.

Assante does not expect the agreement to hinder its ongoing pursuit of remedies relating to litigation against Steinberg’s former protege, David Dunn, and some of his former employees.

Assante will continue to own one of the largest sports representation practices in North America, with four firms representing professional players in baseball, basketball, football and hockey.

In addition to Steinberg & Moorad, which has a large professional baseball practice, the Assante group includes Maximum Sports Management, focusing on NFL football, Fegan & Associates, specializing in NBA basketball player representation, and M.D. Gillis & Associates Ltd., representing NHL hockey players.