Suit - Beasley, subject of betting probe, had financial issues - ESPN

Malik Beasley, an NBA player under investigation in a federal gambling probe, had «financial issues» and struggled to pay back a $650,000 advance this year, according to a lawsuit filed by his former marketing agency.

The suit, filed in April by New York-based Hazan Sports Management Group, seeks $2.25 million in damages and legal fees from Beasley for breach of contract.

An attorney for Hazan Sports wrote that the firm «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)» when it took Beasley on as a client in November 2023.

Beasley terminated the deal two years later on Feb. 27, according to the suit. Hazan Sports tried to recoup a $650,000 marketing advance «but received little more than drips and drabs of sporadic payments and vague promises to repay the balance over time,» the suit alleges.

On June 11, an attorney for Hazan Sports requested an extension in the suit to allow the parties to work on a settlement. A potential deal was predicated on Beasley's financial liquidity, «which is directly related to the commencement of the National Basketball Association's (»NBA") free agency period," the attorney wrote.

Beasley, a free agent, was coming off a resurgent season with the Detroit Pistons and was in discussions with the team about a three-year, $42 million deal, according to ESPN insider Shams Charania. The discussions have been put on hold, according to Charania. Beasley has earned nearly $60 million during his nine-year NBA career.

ESPN has reached out to attorneys for Hazan Sports. No attorney is listed for Beasley in the suit. Steve Haney, who is representing Beasley in the federal gambling