Report: NBA’s Beasley Had Financial Issues; MLB Investigating Pitcher for Gambling

03

Jul

Report: NBA’s Beasley Had Financial Issues; MLB Investigating Pitcher for Gambling

ESPN said that NBA free agent Malik Beasley, who is being investigated in a federal gambling probe, was having financial difficulties and was having trouble repaying a marketing business advance.

 

Federal Investigation

Hazan Sports Management Group gave Beasley a $650,000 advance and sued him for breach of contract in April of last year, arguing that he had only reimbursed them in smaller payments and made "vague" pledges to repay the loan over time. 

In the meantime, the U.S. District Attorney's office is looking into Beasley's gambling claims related to NBA games.  There are currently no charges against Beasley, according to his attorney, who spoke to the Associated Press.

 

Delayed 3-Year Deal for $42M

In order to negotiate a settlement related to Beasley's status as a free agent, Hazan requested an extension of the lawsuit from the court, according to ESPN reporting.

During Beasley's 2023–24 season with the Milwaukee Bucks, league games and prop betting were the subject of the gambling investigation.

He had a fantastic season last season, finishing with an average of 16.3 points per game, 2.6 rebounds, and 1.7 assists. He had signed a one-year contract with the Detroit Pistons and was hoping to earn a multi-year contract.

According to ESPN's Shams Charania, those contract negotiations centered on a three-year, $42 million agreement, but they have since been put on hold.

 

Ortiz of the Guardians Is Being Investigated

In the meantime, several media outlets have reported that Luis Ortiz, the pitcher for the Cleveland Guardians, has been placed on leave while MLB looks into his gambling-related claims.

On X, the Guardians released the following statement: "Major League Baseball has informed the Guardians that Luis Ortiz has been placed on leave in accordance with a deal with the Players Association because of an ongoing league investigation.  The Guardians will respect the league's private investigation process and are not allowed to comment further at this time.

The 26-year-old Ortiz pitched 4-9 for the Guardians in season, recording a 4.36 ERA and 1.376 WHIP.

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