Malik Beasley Cleared of Federal Investigation
Good news for the basketball world. Shooting guard Malik Beasley is no longer the focus of the federal investigation into sports betting conducted by the Eastern District of New York, according to his lawyers, Steve Haney and Mike Schachter. This decision could reopen the free agent market for one of the NBA’s most prominent shooters. Haney and Schachter explained that they held conversations and meetings with the Eastern District of New York, obtaining confirmation that Beasley is not considered the target of the investigation, which focused on accusations related to betting on NBA games and prop bets during the 2023-24 season.On June 29, it was revealed that Beasley was under federal investigation, which halted negotiations and offers he had as a free agent. At that time, an NBA spokesman, Mike Bass, stated that the league was cooperating with the investigation. It was reported that Beasley and the Detroit Pistons were about to close a three-year, $42 million contract. However, the proposal fell through upon learning of the investigation. Other interested teams also paused talks. Several teams have been in contact with Beasley’s representatives in recent weeks to learn about his situation. Beasley, who finished second in the Sixth Man of the Year race in the 2024-25 season, averaged 16.3 points in the 82 games he played. In his first season with Detroit, he scored 319 three-pointers, the most in franchise history and the second in the NBA that season, surpassed by one three-pointer by Anthony Edwards of the Minnesota Timberwolves. Beasley also finished second in total points and three-pointers off the bench, and led the league with 248 catch-and-shoot three-pointers, the most since player tracking began in 2013-14, according to GeniusIQ. Beasley signed a one-year contract with the Pistons in the 2024 offseason. Because Detroit signed Caris LeVert, the most Beasley can re-sign with the Pistons for is $7.2 million. The teams with the exception to offer Beasley a contract exceeding $7.2 million include the Chicago Bulls, Indiana Pacers, New Orleans Pelicans, Sacramento Kings, and Washington Wizards. The Brooklyn Nets also have over $20 million in cap space. During the 2023-24 season, which was the focus of the accusations, Beasley averaged 11.3 points in 79 games with the Milwaukee Bucks and started in 77 games. An American betting house detected an unusually high interest in Beasley’s statistics starting in January 2024. A source from the gaming industry pointed out a match between the Bucks and the Portland Trail Blazers on January 31, 2024. The odds on Beasley recording less than 2.5 rebounds moved significantly before the match. Last year, Jontay Porter was suspended by the NBA following an investigation that revealed Porter disclosed confidential information to bettors and bet on games. Earlier this year, it was announced that Terry Rozier was under federal investigation for activity related to unusual betting patterns in a March 2023 game. The National Basketball Players Association reiterated that there is no evidence of a major problem with gambling in the league beyond Porter. In 2020, when Beasley played for the Timberwolves, he pleaded guilty to a charge of threats of violence and was sentenced to 120 days in jail.“Months after this investigation began, Malik has not been charged and is not the target of this investigation,” Haney stated. “An accusation without charges, no formal accusation, and no conviction should ever have the catastrophic consequences that this has caused Malik. This has been literally the opposite of the presumption of innocence.”
Steve Haney, Malik Beasley’s Lawyer
