NBA free agent Malik Beasley, under federal investigation for illegal sports betting, allegedly has more than $8 million in financial woes.
The Detroit News obtained court records that showed Beasley was in debt to a celebrity barber, a dentist, a landlord, a marketing firm, and a lender.
Key takeaways
- Beasley is currently being sued for $2.25 million by a marketing agency.
- The Pistons were reportedly ready to offer Beasley a three-year, $42 million deal.
- An attorney for Beasley claimed that "an investigation is not a charge.”
On Sunday, ESPN's Shams Charania reported that Beasley, who spent last season with the Detroit Pistons, was the subject of a nefarious gambling investigation. This came as a response to at least one prominent sportsbook reporting that his prop bets were the subject of suspicious activity.
Beasley's personal struggles were crystallized even further when ESPN discovered a lawsuit filed in April by Beasley’s former marketing agency, Hazan Sports Management Group. They sought $2.25 million in damages and legal fees after they claimed Beasley failed to pay back a $650,000 advance.
"[Hazan Sports] elected to take a chance and make a substantial investment of time, effort, and resources in a player with known issues (including and especially financial issues),” the plaintiffs claimed in the lawsuit.
A troubled history
In 2022, lending company South River Capital, LLC, won a near-$5.8 million judgment against Beasley, who had borrowed from and failed to repay the company. The decision was filed in Minnesota when Beasley played for the Timberwolves.
In August 2024, Beasley signed a contract with a Florida-based lending firm, Aliya Capital Partners, that promised his current and future NBA paychecks in return.
A Milwaukee barber also won $26,827 in a judgment against Beasley the same month that a Minnesota dentist won $34,390 against him, per The Detroit News.
Another lawsuit against Beasley was filed in March, this time by his landlord. The suit filed in Detroit’s 36th Court claimed that he failed to pay $14,150 in rent for his high-rise apartment building at The Stott.
The lawsuit was dismissed before Beasley was sued again, this time for failing to pay $7,355 in rent. A hearing for that matter is set for July 15.
What’s next for Beasley?
According to Spotrac, Beasley earned close to $60 million during his nine-year NBA career. He played last year with the Pistons on a one-year, $6 million contract and was expected to be offered a three-year, $42 million extension, though that was pulled once news broke of the investigation.
“An investigation is not a charge,” Beasley’s attorney, Steve Haney, said after the investigation was made public. “Malik is afforded the same right of the presumption of innocence as anyone else under the US Constitution. As of now, he has not been charged with anything.”
Beasley averaged 16.3 points and 2.6 rebounds per game on 41.6 percent three-point shooting last year. He finished one made three-pointer behind Anthony Edwards for the league lead and became the third player in NBA history with at least 300 made threes on better than 40 percent shooting in one season.
