Court records “paint a picture of a turbulent personal life” for free agent G Malik Beasley, who “experienced a career breakthrough” with the Pistons last season as “debts mounted from a celebrity barber, a dentist, a landlord, a lender and a marketing firm,” according to Robert Snell of the DETROIT NEWS. The court records and details “about a years-long history of financial problems” are emerging as FBI agents conduct an investigation involving Beasley that is focused on “wire fraud, gambling and prop bets.” Beasley was sued in April by Hazan Sports Management Group Inc., a boutique N.Y.-based agency, which “accused Beasley of failing to repay $650,000 in cash that was given to him as an advance against future marketing revenue from his name, image and likeness.” Hazan “wants at least” $2.25M for “alleged breach of contract.” Almost one year ago, in August, Beasley signed a deal with a Florida firm that provides bridge loans to pro athletes. As collateral, Beasley “pledged his current and future NBA contracts.” Then in March, Beasley was sued in Detroit’s 36th District Court for “failing to pay $14,150 in rent” at The Stott -- the apartment building he lived in -- though the lawsuit was dismissed later that month. But then, in June, Beasley “was sued again by The Stott for failing to pay $7,355 in rent.” A hearing is scheduled for July 15 (DETROIT NEWS, 7/1).
UNFORTUNATE TIMING: The WALL STREET JOURNAL’s Diamond & O’Connell wrote the “mere suggestion of any wrongdoing has already resulted in significant consequences for Beasley.” Before this happened, Beasley’s representatives said that he had “agreed to the framework” of a new $42M contract to remain with the Pistons. But after news broke of the government’s investigation on Sunday, that pact was “put on hold, sparking questions about Beasley’s NBA future.” Just days ago, Beasley -- who made $6M last season -- was a player “coming off one of the best seasons of his career at the perfect time, ready to double his salary and then some.” Then the federal investigation came -- at the “worst possible moment” (WALL STREET JOURNAL, 6/30).
