Wasserman Majority Investor Providence Equity Partners Enters Damage Control Following Friday’s Bombshell Announcement

Photo Credit: Providence Equity Partners

After Casey Wasserman’s announcement that he’s putting his agency up for sale, Providence Equity issues a statement about the future of the company.

Providence Equity has entered damage control mode in the wake of Casey Wasserman’s announcement on Friday night that he’s putting his agency up for sale. Wasserman’s appearance in the Epstein files quickly rocked his leadership position across sports and media, which resulted in several high-profile clients jumping ship in the past couple of weeks.

“We believe deeply in the strength of the Company and have full confidence in Mike [Watts] and the leadership team, as well as in the exceptional employees across the organization,” reads Providence’s statement. “We remain fully committed to investing in its growth, expanding its capabilities across sports, music, and entertainment, and supporting the extraordinary talent, brands, and properties the Company is proud to represent.”

On Friday night, Wasserman sent a memo to employees that revealed his intention to sell the agency. He wrote that he had “become a distraction” to the company’s work, which is why “I have begun the process of selling the company, an effort that is already underway.” He also said that Mike Watts would oversee the day-to-day business operations “while I devote my full attention to delivering Los Angeles an Olympic Games in 2028 that is worthy of this outstanding city.”

As chairman of the Los Angeles Olympics Committee, Wasserman was investigated by the board over his connections to Jeffrey Epstein and Ghislaine Maxwell. Ultimately, the board issued a statement supporting Wasserman’s position on the committee.

“LA28 takes allegations of misconduct seriously, and our Board is committed to thoroughly reviewing any concerns related to the organization’s leadership,” the committee’s statement read. “Mr. Wasserman fully cooperated with the review. We found Mr. Wasserman’s relationship with Epstein and Maxwell did not go beyond what has already been publicly documented.”

Emails between Wasserman and Maxwell released among the Justice Department’s Epstein files revealed that the two had a flirtatious, possibly intimate relationship back in 2003—years before she was convicted of sex trafficking on behalf of sex offender Jeffrey Epstein.

Wasserman released a statement that he regretted his involvement with Maxwell, but stressed that he did not have a personal or business relationship with Epstein. In 2002, Wasserman was among those who flew on Epstein’s private jet as part of a humanitarian trip to Africa organized by former President Bill Clinton. Wasserman claims this trip was the extent of his involvement with Epstein.