Malik Beasley Is No Longer A Target Of A Federal Gambling Probe, But It Still Cost Around… $40 Million

It's been a chaotic summer for Malik Beasley. The NBA guard was coming off his best season as a pro, hitting 319 three-pointers at an impressive 41.6% clip. In fact, Beasley was one three-pointer shy of tying Anthony Edwards for the league lead. Beasley was a key piece for the Detroit Pistons, which had just won their first playoff games since 2008, and he was looking to sign a lucrative contract extension.

Then, the news came out that Beasley was the target of a federal gambling probe. Suddenly, that extension—which was reported to be for three years and $42 million—was off the table.

Beasley was being investigated over a series of games during the 2023-24 season that had unusual betting activity. While that was going on, reports of additional financial woes came out. Per public records, Beasley was dealing with:

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• A debt of more than $5.8 million to South River Capital, a firm that provides high-interest loans to athletes.
• A legal battle against a Minnesota dentist, who won a $34,390 judgment and began garnishing his Pistons paychecks in 2025.
• Another legal battle with a celebrity barbershop in Milwaukee, which obtained a $26,827 judgment against him.
• Two lawsuits from Bedrock Detroit, Dan Gilbert's real estate firm, for failing to pay rent at a downtown apartment building.
• An additional lawsuit from Hazan Sports Management for breach of contract, seeking $2.25 million over an unpaid $650,000 marketing advance.

As Beasley's lawyer noted, he hadn't been charged with anything. And now, investigators have said Beasley is no longer the "target" of the probe. That doesn't mean he's entirely in the clear—Front Office Sports reported a source said Beasley is still a "subject" of investigations—but it does appear to open the door for him to sign with a team before training camp starts in about a month.

Most free agents have signed with other teams, so he's one of the most valuable available players remaining. However, Beasley will likely lose out on millions of dollars as a result of the investigation. Some teams may still hesitate to sign him as long as there's still potential for a criminal charge.

Even if a team is willing to offer a contract, we're now much later into the offseason. Teams have filled out their rosters and used up their cap space. Beasley could join a contender like the New York Knicks or Cleveland Cavaliers, but he'd likely have to settle for the veteran's minimum. In Beasley's case, that would be about $3.3 million. Should that happen, this probe will have caused Beasley to miss out on about $38.7 million.

It seems the most realistic scenario is Beasley signing a one-year contract for the veteran's minimum this year and put up another productive season. With how this summer has gone, he'd probably welcome that fresh start.