Malik Beasley
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Malik Beasley is currently at the center of a gambling investigation that mirrors the situation that led to Jontay Porter earning a lifetime ban from the NBA. The guard has made $60 million during his career, but it appears he was facing a fairly unstable financial situation based on the various debts he racked up before drawing the attention of the federal government.
Anyone who’s seen the 30 For 30 documentary Broke is aware that more than a few professional athletes have managed to burn through an amount of cash that most people would consider a fortune, and the NBA is one of a few leagues that have institued a financial literacy program in an attempt to prevent its players from befalling a similar fate.
However, at the end of the day, it’s up to those athletes to make responsible decisions, and there are plenty of cautionary tales that prove that’s much easier said than done.
It seems like we’ve been treated to our most recent example in the form of Malik Beasley, who was reportedly on the verge of landing a three-year, $42 million deal with the Pacers last month.
However, those negotiations came to a screeching halt when the U.S. District Attorney’s office announced it had launched an investigation to examine suspicious betting patterns linked to prop bets he was involved in while playing for the Bucks during the 2023-24 season.
There’s no telling how things will end up panning out, but NBA teams haven’t exactly been knocking down the door of a free agent who will likely remain unsigned until he’s either exonerated or ends up following in the foosteps of Jontay Porter, the disgraced big man who is gearing up to serve a prison sentence in the wake of the scandal that resulted in him being exiled from the NBA.
Beasley has spent nine seasons in the league while racking up around $60 million in contract earnings, but according to The Detroit News, he may have had some extra incentive to engage in the illegal activity that’s led to him being thrust under the microscope based on the finacial issues he’s been dealing with.
The outlet combed through public records and discovered Beasley has been dealing with a litany of legal problems concerning debts to other parties, including a celebrity barber in Milwaukee who successfully sued him for $26,827, a dentist in Minnesota who was granted the right to garnish his paycheck with a $34,390 judgment, and a management company for an apartment building in Detoirt that has repeatedly attempted to collect backrent.
That’s just the tip of the iceberg, as another company that gives loans to pro athletes who are looking to collect on their contract before it’s paid out in its entirety got the right to collect $5.8 million from him a few years ago. Additionally, a management group in New York City is currently suing him for $2.25 million over breach of contract.
Beasley is innocent until proven guilty, but if you had questions about his potential motive as far as the gambling investigation is concerned, you’ve certainly got some answers now.