After a strong year with the Detroit Pistons, Malik Beasley is in deep legal and financial trouble. In addition to ongoing lawsuits from former partners and creditors, the FBI is investigating alleged betting violations. A lucrative Pistons contract is reportedly already off the table.
Malik Beasley had his best season in years: With 319 three-pointers, the shooting guard set a franchise record for the Pistons and played a key role in Detroit reaching the playoffs for the first time since 2019. His 16.3 points per game made him a promising prospect for the future, but off the court, problems are mounting.
According to ESPN and The Detroit News, the 28-year-old is currently facing several lawsuits, millions in debt and an FBI investigation. According to media reports, a planned three-year, $42 million contract extension in Detroit has already been withdrawn.
Lawsuits, loans and broken deals
It all started with a legal dispute with his former agency, Hazan Sports Management. They sued Beasley for at least $2.25 million for breach of contract and outstanding payments from a marketing deal, including an unpaid advance of $650,000.
In addition, there is an older judgment for $5.8 million from a loan agreement with South River Capital, as well as further debts from rent arrears, unpaid services and medical treatment. Among others, a dentist and a celebrity barber won court judgments against Beasley.
According to court documents, Beasley’s debts now amount to around $8 million, despite over $59 million in NBA earnings.
Investigation into possible fraud
Even more serious is the ongoing investigation by the FBI. The allegation: Beasley is said to be involved in alleged betting violations and wire fraud. Similar to the case of Jontay Porter, who was banned for life by the NBA last year.
Although no charges have been filed against Beasley so far, his advisor Steve Haney emphasized in a statement: “Many are investigated, but never charged. Keep that in mind.” The NBA has not yet officially commented on the case.
