Malik Beasley is the subject of a federal investigation for unusual betting activity, and the NBA player is also facing a lawsuit by Hazan Sports alleging breach of contract.
The sports agency alleges that Beasley owes them $650,000 after canceling a contract in February. The money was paid to the Detroit Pistons guard as an advance, but when he terminated his contract on February 27, the company expected it to be repaid.
However, the lawsuit claims that the agency has seen “little more than drips and drabs of sporadic payments and vague promises to repay the balance over time.”
Beasley signed a four-year contract with Hazan in November 2023, and the lawsuit also claims he breached the terms of the deal by terminating the contract and signing with another agency after 15 months. The lawsuit is seeking over $2 million in damages and legal fees from Beasley.
Beasley Facing Gambling Probe
News came on Monday that Beasley is the subject of a federal gambling investigation. The details of Beasley’s involvement in the case are not yet known, but it is said that a sportsbook raised concerns over suspicious betting activity on the player’s prop bets from January last year.
One match in particular was highlighted when Beasley was playing for the Bucks against the Portland Trail Blazers on Jan. 31, 2024. There was a flurry of bets on Beasley to record fewer than 2.5 rebounds in the match, pushing the odds from +120 to -250. Beasley, however, recorded 6 rebounds in the match.
The player’s attorney pointed to the fact that no charges have been brought against his client, stating, “An investigation is not a charge. 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.”
If implicated in the gambling probe, Beasley could face a ban from the NBA and even imprisonment. Former NBA player Jontay Porter was convicted of a federal conspiracy to commit wire fraud in a sports betting scandal. He is currently awaiting sentencing with prosecutors recommending a prison sentence of between 41 to 51 months.
Miami Heat point guard Terry Rozier also remains under investigation related to suspicious betting patterns on prop bets in a game when he was with the Charlotte Hornets in March 2023.
Hazan Resuscitated Beasley’s Career
The suit claims that Hazan Sports was responsible for “single-handedly resuscitating Beasley’s career” by getting him a one-year deal with the Pistons in July 2024, worth a guaranteed $6 million.
Beasley played in all 82 matches for the Pistons in the season just gone and was in negotiations over a 3-year deal worth a reported $42 million. The contract talks have been put on hold after news of the federal gambling investigation.
During his nine-year NBA career, Beasley has earned almost $60 million. After parting ways with Hazan, Beasley signed a deal with Seros Partners, although neither party has disclosed how much the contract is worth. Seros has also yet to comment on the gambling investigation surrounding Beasley.
Debts Mounting For Years
News has also come to light of more debts for Beasley. South River Capital won a $5.8 million judgment against the player more than three years ago for unpaid loans. He also signed another loan deal last year, pledging his current and future NBA contracts as collateral.
Smaller debts have piled up, too. He was sued twice this year by his Detroit landlord over unpaid rent and is scheduled to appear in court in July.
Additionally, a barber won a $26,827 judgment, while a Minnesota dentist secured a $34,390 default judgment and began garnishing his paychecks from the Pistons.
Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.
