The news that Detroit Pistons guard Malik Beasley is under investigation by the U.S. District Attorney’s office for alleged gambling on the NBA has resurfaced an April lawsuit against Beasley that claims he dealt with “financial issues.”
The suit, filed by Hazan Sports Management Group, seeks over $2 million in damages and legal fees for alleged breach of contract by Beasley.
The preliminary statement says the agency "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 bringing on Beasley as a client in November 2023.
Despite signing for an initial term of four years and receiving a cash advance of $650,000, the suit claims he fired Hazan Sports and breached exclusivity provisions by hiring a new marketing agent after about 15 months.
Hazan Sports attempted to collect the amount of the advance from Beasley but saw "little more than drips and drabs of sporadic payments and vague promises to repay the balance over time."
Beasley signed the deal while he was a member of the Milwaukee Bucks, making a salary just over $2.7 million per year.
It was during that 2023-2024 season that Beasley is being investigated for alleged gambling on NBA games and prop bets.
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.
It’s then claimed Beasley was “courting other agents” in late 2024/early 2025.
ESPN reports that on June 11, an attorney for Hazan Sports requested an extension to allow time to work on a settlement between the parties.
The settlement is “directly related to the commencement of the National Basketball Association’s (”NBA") free agency period" depending on Beasley’s financial liquidity.
And that’s been thrown into some chaos after reports came out on Sunday Beasley is a subject of a federal gambling probe.
Beasley’s attorney for the gambling investigation Steve Haney — who isn’t the attorney of record for the civil suit — said it’s been ongoing for 18 months.
While he’s not been charged with a crime, Beasley was nearing a deal to re-sign with the Pistons for three years. Talks have since paused.