UPDATE: Malik Beasley is officially no longer a target in the federal gambling investigation led by the Eastern District of New York, his attorneys confirmed today. This development, announced by Beasley’s lawyers Steve Haney and Mike Schachter, could dramatically reshape his free agency prospects as the NBA season approaches.
The attorneys revealed that extensive discussions with federal officials determined Beasley will not face any charges related to allegations of gambling on NBA games during the 2023-24 season. “Months after this investigation commenced, Malik remains uncharged and is not the target of this investigation,” Haney stated. He emphasized that the baseless allegations have had devastating consequences for Beasley, undermining his presumption of innocence.
This announcement comes as a relief for Beasley, who has faced uncertainty in his career since the investigation was first reported on June 29. The inquiry halted a lucrative $42 million contract agreement with the Detroit Pistons, which was set to be finalized just before free agency commenced. NBA spokesman Mike Bass previously stated that the league was cooperating with the investigation, causing other teams to pause negotiations with the talented shooter.
Beasley, who averaged 16.3 points last season while playing all 82 games for the Pistons, made a historic impact by sinking 319 three-pointers, the most in Pistons franchise history. His performance ranked him second in the NBA for three-pointers made, just behind Minnesota Timberwolves star Anthony Edwards. His explosive shooting ability has kept several teams interested, even amid the investigation.
With the clearance from federal scrutiny, Beasley’s opportunities have expanded. While the Pistons signed Caris LeVert, limiting Beasley’s potential re-signing to a maximum of $7.2 million, other teams are ready to pursue him. The Chicago Bulls, Indiana Pacers, New Orleans Pelicans, Sacramento Kings, and Washington Wizards all have the capacity to offer more significant contracts. The Brooklyn Nets also sit with over $20 million in cap space, making them a potential contender for Beasley’s services.
Despite recent challenges, Beasley remains a valuable asset. He averaged 11.3 points during the 2023-24 season with the Milwaukee Bucks, where he made a career-high 77 starts. However, he was at the center of unusual betting patterns detected by sportsbooks, notably during a game against the Portland Trail Blazers on January 31, 2024. These patterns raised eyebrows and prompted the investigation.
The NBA continues to navigate the complex intersection of sports and gambling. Following the Beasley case, former Toronto Raptors forward Jontay Porter was banned for disclosing confidential information to bettors. Miami Heat guard Terry Rozier also faced scrutiny earlier this year, but like Beasley, he has not been charged or sanctioned by the league.
The National Basketball Players Association has voiced concerns over the increasing impact of gambling on player integrity. “NBA players compete at the highest level with the utmost integrity,” a spokesperson stated, emphasizing the need for tighter regulations on prop bets to mitigate player harassment.
As Beasley moves forward, his focus will be on securing a new contract amid the fallout from the investigation. The outcome of this situation not only affects his career but also resonates through the league as it addresses the growing concerns of gambling’s influence on professional sports.
Stay tuned for further updates as Malik Beasley navigates this critical juncture in his career.
