Lawsuit Investigation Shows Malik Beasley Was Suffering From ‘Financial Issues’

The investigation in a federal gambling probe over NBA player Malik Beasley continues, and has now shed light on some of his personal struggles. According to a lawsuit filed by his former marketing agency, he had “financial issues” and difficulty to pay back a $650,000 advance this year.

The suit, which was filed three months ago by Hazan Sports Management Group, is looking to receive $2.25 million in damages and legal fees from the athlete for breach of contract. The company’s attorney said that the firm “elected to take a chance and make a substantial investment of time, effort, and resources in a player with known issues.”

Malik terminated their deal two years later, as Hazan Sports tried to recover 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.”

“An investigation is not a charge,” said Steve Haney, who serves as Beasley’s attorney. “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.”

The 28-year-old was negotiating his future in Detroit on a three-year, $42 million deal, which is now on pause until the athlete solves his issues with the authorities. The Michigan organization told the press they are aware of the situation but are deferring further comment.

“There have been no charges against Malik,” the sharpshooter’s lawyer said. “It’s just an investigation at this point. We hope people reserve judgement until he’s charged – or if he’s charged. It’s not uncommon for there to be a federal investigation.”

As for the NBA, they also acknowledged the FBI’s interest. “We are cooperating with the federal prosecutors’ investigation,” league spokesman Mike Bass revealed, as last year former Raptors forward Jontay Porter was banned by the NBA after he was found guilty of disclosing confidential data to sport bettors.