Sources indicate that Malik Beasley is purportedly no longer the primary focus in an ongoing federal inquiry related to gambling activities, as conveyed by his legal representatives to ESPN on Friday.
However, according to sources within Yahoo Sports possessing direct insight into the matter, the investigation by the Eastern District of New York remains active, and Beasley is still considered a person of interest.
A day prior to the commencement of free agency in June, reports surfaced indicating that Beasley was under federal scrutiny as part of a gambling-related probe. This development significantly impacted Beasley, who was poised to enter the open market, leading to a cessation of potential offers due to the ongoing investigation.
On Friday, Beasley’s attorneys, Steve Haney and Mike Schachter, affirmed that Beasley has not been formally charged despite investigators having dedicated over a month to examining the circumstances. His legal team criticized the investigators, asserting that the allegations have had a “catastrophic consequence” on Beasley, according to ESPN.
“An allegation without a formal charge, indictment, or conviction should never inflict the catastrophic repercussions that Malik has endured. This situation has effectively inverted the principle of the presumption of innocence.”
The inquiry was reportedly initiated following the detection of irregular betting patterns involving Beasley prop bets by a U.S. sportsbook, which commenced in January 2024. At that time, Beasley was associated with the Milwaukee Bucks.
ESPN reached out to the U.S. Attorney’s Office for the Eastern District of New York on Friday, but the office declined to provide any comments regarding Beasley’s situation.
When the investigation came to light, Beasley, 28, was reportedly contemplating a potential three-year, $42 million contract to rejoin the Detroit Pistons. However, this agreement dissipated following the announcement of the investigation, and other NBA teams reportedly ceased communication with Beasley as a result of the news, as reported by ESPN.
Given the uncertainty surrounding Beasley’s circumstances, the Pistons proceeded to sign Caris LeVert, Duncan Robinson, and Javonte Green, effectively eliminating Beasley as a potential target for the team. Even if Beasley were to express interest in returning to Detroit, the team’s maximum offer is limited to $7.2 million due to LeVert’s full mid-level exception.
Following a notable 2024-25 NBA season, where Beasley averaged 16.3 points per game and secured the second-highest number of 3-pointers in the NBA, Beasley was positioned to secure a substantial, multi-year contract on the market. He was recognized as the No. 14 player available in free agency, according to Yahoo Sports’ Morten Stig Jensen.
However, with the investigation impeding Beasley’s free-agent prospects, there are now only a limited number of teams that can offer the guard more than $7.2 million.
While Beasley is unlikely to receive the lucrative deal he initially anticipated, several teams have reportedly maintained contact with Beasley’s representatives in recent weeks, as reported by ESPN. Considering his successful performance last season, he may swiftly align with a new team following Friday’s developments.
