Malik Beasley has allegedly been having money problems amid the news of his gambling investigation.
The veteran NBA guard Beasley is facing a lawsuit from his former agency Hazan Sports Management Group, David Purdum of ESPN reported on Tuesday. The lawsuit, which was filed back in April, alleges that Beasley was having “financial issues” and struggled to pay back a $650,000 advance that Hazan Sports had given to him.
Hazan Sports took on Beasley as a client in Nov. 2023, but Beasley allegedly terminated the agreement in February of this year. When Hazan Sports attempted to recoup the $650,000 marketing advance, the lawsuit claims, Beasley gave “little more than drips and drabs of sporadic payments and vague promises to repay the balance over time.”
In the lawsuit, Hazan Sports is now seeking $2.25 million in damages and legal fees from Beasley for breach of contract. On June 11 of this year though, an attorney for Hazan Sports reportedly requested an extension in the lawsuit to allow the parties to work on a settlement. The potential deal was said to be predicated on Beasley’s “financial liquidity” in connection with the 2025 NBA free agency period.
Purdum notes that there is no attorney of record listed for Beasley in the civil suit, which is separate from the federal gambling investigation that the 28-year-old guard is currently facing. You can read Purdum’s full report on the situation here.
Word broke over the weekend that the nine-year NBA veteran Beasley was being investigated by the U.S. District Attorney’s Office for alleged gambling related to NBA games. Beasley has yet to be charged with a crime, but his free agent negotiations are currently on hold as a result of the investigation.
Video evidence has also since surfaced showing supposedly questionable plays that Beasley had made during games in the past.
After appearing in all 82 games for the upstart Pistons last season and scoring 16.3 points per game on a career-high 41.6 percent from three, Beasley (who has made roughly $60 million in NBA salary to this point of his career) was expected to land a sizable free agent contract. But it appears the Pistons, who were in talks with Beasley on a new deal before the investigation, have since moved on from Beasley and thus the payday may no longer be coming.
