Pistons’ Malik Beasley had ‘financial issues’ prior to gambling investigation, per report

Detroit Pistons shooting guard Malik Beasley was ranked as CBS Sports’ No. 14 available player as free agency was set to begin, but just one day before legal tampering opened, it was reported that Beasley was potentially in serious trouble.

ESPN reported that federal authorities were investigating Beasley on allegations of gambling related to NBA games and prop bets during the 2023-24 season, when he was a member of the Milwaukee Bucks. Beasley and the Pistons were in talks on a new three-year, $42 million deal, according to ESPN. But those talks of course ceased once the investigation came to light and Detroit reportedly agreed to a three-year, $48 million deal with Duncan Robinson (who, like Beasley, is known for his outside shooting) on Tuesday. 

Recently, ESPN discovered a lawsuit filed in April by Beasley’s former marketing agency, Hazan Sports Management Group. The suit seeks $2.5 million in damages and legal fees, and claims Beasley had “financial issues,” as he could not pay back a $650,000 advance this year. 

An attorney for Hazan Sports wrote in the suit that the management group, “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).” Beasley was taken on as a client in November 2023, but he terminated the deal less than two years later. 

Hazan Sports failed to recoup a $650,000 marketing advance once the deal was terminated, instead receiving, “little more than drips and drabs of sporadic payments and vague promises to repay the balance over time.”

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Last month, Hazan Sports requested an extension in the suit with hopes of a settlement. Beasley was expected to cash in this offseason after averaging 16.3 points per game in 2024-25, and hitting 319 3-pointers, which ranked second most in the NBA.

In a statement to ESPN earlier this week, Beasley’s attorney, Steve Haney, made sure to note that his client has not been charged with a crime. 

“An investigation is not a charge,” Haney said. “Malik is afforded the same right of the presumption of innocence as anyone else under the U.S. Constitution. As of now he has not been charged with anything.”

In regards to what sparked the investigation, ESPN reported that one prominent sportsbook detected unusual betting activity on Beasley props beginning in early 2024. In a Jan. 31, 2024 matchup between the Bucks and Portland Trail Blazers, the odds on Beasley recording less than 2.5 rebounds moved significantly before the game, going from around +120 to -250 after the Under experienced a high amount of action. Beasley recorded six rebounds that night.

But the Hazan lawsuit is just one part of the financial troubles plaguing Beasley. 

Three years ago, South River Capital, LLC, a company specializing in loaning money to professional athletes, won a nearly $5.8 million settlement against Beasley in Maryland, according to court documents obtained by The Detroit News.

In August 2024, Beasley signed a deal with a Florida firm that provides bridge loans to athletes. Beasley pledged his current and future NBA contracts as collateral, according to The Detroit News.

The outlet noted legal issues between Beasley and multiple businesses, including a Milwaukee-based barber that won a $26,827 judgment against the shooting guard and Minnesota dentist that won a $34,390 default judgment against Beasley that same month. 

Beasley and his landlord are also reportedly at odds. In March, Beasley was sued in Detroit’s 36th District Court for failing to pay $14,150 in rent at a high-rise apartment building where he was a tenant. The lawsuit was dismissed before The Stott sued him again for failing to pay $7,355 in rent. A hearing is scheduled for July 15.

Beasley played for the Pistons on a one-year, $6 million contract last season after making $2.7 million in one year with Milwaukee. According to Spotrac, Beasley has made $59,948,525 over the course of his nine-year career.