Malik Beasley, Who is Under Sports Betting Investigation, Had ‘Financial Issues’

• Free agent Malik Beasley is under federal investigation for gambling on NBA, prop bets
• Beasley is currently being sued by a former marketing agency, which describes him as having “financial issues”
• A separate report shows Beasley may have had several other forms of debt

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NBA free agent Malik Beasley, who is currently under federal investigation for allegations related to NBA games and prop bets, is also facing a lawsuit from a former marketing agency that described the athlete as having “financial issues.”

Hazan Sports Management, a New York-based professional basketball agency, filed a lawsuit against Beasley this past April, suing the then member of the Detroit Pistons for $2.25 million in relief for breach of contract.

In the lawsuit, counsel for Hazan Sports Management noted the firm took on Beasley as a client, despite him having known issues, “including and especially financial issues.”

Under Investigation for Sports Betting

ESPN’s David Purdum was the first to report on the lawsuit.

Beasley, 28, formerly of the Detroit Pistons, is being investigated for allegations related to NBA games and prop bets during the 2023-2024 NBA season when he was a member of the Milwaukee Bucks.

The U.S. Attorney’s Office in Eastern District of New York is leading the investigation. According to ESPN’s Sham Charania, who broke the story this past weekend, a major U.S. sportsbook identified unusual betting activity surrounding Beasley’s statistics beginning January 2024.

The NBA acknowledged the investigation and said it is cooperating.

No charges have been filed against Beasley.

Beasley Lawsuit Details

Beasley entered into an agreement with Hazan Sports Management on Nov. 27, 2023 for an initial term of four years. The agency provided Beasley with a cash advance against future marketing revenue in the amount of $650,000.

While the agency secured a contract for Beasley with the Pistons worth $6 million, the lawsuit contends he was courting other agents to represent his interests, a violation of the exclusivity provisions of his contract. The lawsuit contends he terminated his contract with the agency on Feb. 26, 2025, and did not return the full $650,000 cash advance to the agency.

Hazan Sports Management is seeking $2.25 million in relief and legal fees for Beasley’s alleged breach of contract and for damages stemming from his decision.

Other Report Shows Beasley May Have Been Largely in Debt

The Detroit News also published an in-depth review of Beasley’s recent financial history, which showed a number of amassed debts in the athlete’s name. According to the report, a lending company won a nearly $5.8 million ruling against Beasley for failure to repay a loan. The decision was made in 2022 when Beasley played for the Minnesota Timberwolves.

A barber in Milwaukee also won a nearly $27,000 judgement against Beasley in August 2024, while a Minnesota dentist won more than a $34,000 judgement against him.

A landlord also recently filed a lawsuit against Beasley in Detroit’s 36th District Court, according to The Detroit News. The lawsuit alleges Beasley owed $14,150 in rent during his time spent at a high-rise apartment. The lawsuit was eventually dismissed.