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Malik Beasley isn’t out of the water with a federal gambling investigation–yet.
Beasley is no longer the “target” of the Eastern District of New York probe, ESPN reported Friday, potentially opening the door for the 3-point specialist to sign with a team with a month to go before NBA training camps open.
Investigators are reportedly focusing on a handful of games during Beasley’s tenure with the Bucks from the 2023–24 season in which at least one prominent U.S. sportsbook detected unusual prop bet activity, according to ESPN.
To federal prosecutors, “target” has a specific and narrow technical definition.
The Department of Justice defines a “target”as “a person as to whom the prosecutor or the grand jury has substantial evidence linking him or her to the commission of a crime and who, in the judgment of the prosecutor, is a putative defendant.”
But Beasley is still considered a “subject” of the investigation, according to a source with knowledge of it. The Department of Justice defines a subject as “a person whose conduct is within the scope of the grand jury’s investigation,” which means Beasley could still be charged with a crime, something his lawyers have acknowledged.
“I have no idea,” Steve Haney, one of Beasley’s attorneys, said when asked Friday by The Detroit News if Beasley would be charged. “That is the frustrating thing. You live in a state of purgatory with a cloud hanging over your head for what? Forever? And you’re out of the league and can never play basketball again?
“Hopefully this gives some new hope to his situation of being gainfully employed in the new year,” Haney added.
Beasley made the second-most 3s in the NBA last season while playing for the Pistons on a one-year deal worth $6 million. He was poised to cash in during free agency with both sides working toward a three-year, $42 million deal, but talks stalled after Beasley’s name came up in the federal probe in June.
The 6-foot-4 guard has problems beyond the investigation, too. Beasley is currently being sued for more than $2 million by his former agency for breach of contract. He was also evicted from his apartment in Detroit on Aug. 8 for unpaid rent, which his landlord sued him twice for this year.
Haney said despite Beasley’s recent string of financial issues, his client is not struggling financially.
“It is not fair to characterize him as being broke,” Haney told The Detroit News. “Malik obviously did not have people in his management circle that were diligent. We are working with him to go through and solve some of the problems.”
NBA free agency’s game of musical chairs has mostly ended, with only a handful of major restricted free agents still remaining and most teams low on cap space.
The Pistons appear to have moved on, adding Caris LeVert, Duncan Robinson, and Tim Hardaway Jr., all of whom have similar attributes to Beasley.
Detroit still holds Beasley’s non-Bird rights, which allow a team to re-sign a player who played one year for the team for 120% of their previous salary. Because of that, the Pistons can re-sign Beasley for a maximum of $7.2 million, according to ESPN. The Brooklyn Nets are the only remaining team with meaningful cap space and are an unlikely destination for a player like Beasley amid their rebuild.
The Bulls, Pacers, Pelicans, Kings, and Wizards all have the mid-level exception available, which allows them to sign Beasley for more than $7.2 million.
Even if he did sign somewhere, Beasley could still be the subject of NBA discipline. The Eastern District’s investigation is still ongoing and the NBA is investigating Beasley for possible violations of its own rules, which aren’t contingent on the federal investigation.
The Eastern District of New York did not immediately respond to a request for comment.
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