Hoops Rumors

An ESPN report last week stating that Malik Beasley is no longer a target of a federal gambling investigation into unusual prop betting activity has fueled speculation about the possibility of the free agent sharpshooter joining an NBA team for the start of the 2025/26 season. The Knicks and Cavaliers are among the clubs said to have interest.

However, as we detailed over the weekend, the term “target” has a specific legal definition to federal prosecutors, and while it may not apply to Beasley, that doesn’t mean he’s entirely in the clear.

The former Pistons wing is still a “subject” of the investigation being conducted by the Eastern District of New York, a source has confirmed to Alex Schiffer of Front Office Sports.

As Schiffer explains, a subject of an investigation is defined by the Department of Justice as “a person whose conduct is within the scope of the grand jury’s investigation,” whereas a target is someone who “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.”

In practical terms, that means that while federal investigators aren’t zeroing in on Beasley specifically, he also could still theoretically face criminal charges, something his lawyer Steve Haney acknowledged to Robert Snell and Coty M. Davis of The Detroit News.

“I have no idea,” Haney said when asked if Beasley will 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?”

It makes sense that NBA teams would be reluctant to finalize a deal with the 28-year-old before getting clarity on whether or not he’ll face charges (or discipline from the league) related to the unusual activity on Beasley-related prop bets during the 2023/24 season. Still, it’s worth noting that there’s technically nothing stopping an NBA club from signing him.

For example, Heat guard Terry Rozier, who has also been investigated as part of the federal probe into illegal betting, continued to play during the second half of last season while that investigation was ongoing and is still on Miami’s roster. Based on somewhat conflicting reports about his status, it sounds as if Rozier in the same boat as Beasley — not a “target,” but not fully cleared yet either as the probe continues.

Besides being a subject in a federal investigation, Beasley has also had his share of financial issues in recent years, as outlined in multiple reports this summer. He allegedly failed to pay off debts to a celebrity barber, a money lender, a marketing firm, and a dentist, and was evicted from his apartment earlier this month after being accused of not paying rent.

Haney, who has been working with Beasley in an effort to clear up his debts, said his client could reclaim his apartment as soon as this week and suggested that his financial woes have been overstated.

“A lot of his problems came from, I think, a lack of management and not having somebody diligently coordinating a lot of his financial matters,” Haney told The Detroit News. “And though I’m not his business manager, I am trying to help coordinate whatever I can to get him back in better standing.

“… It is not fair to characterize him as being broke. Athletes are very busy. They have had a life of privilege. They are not used to handling business affairs. Most of these NBA players get people around them that they trust to handle business affairs. 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.”

If not for Beasley’s off-court complications, he’d almost certainly be the most coveted unrestricted free agent left on the market. The former Florida State standout is coming off a very strong season in Detroit in which he was the Sixth Man of the Year runner-up after averaging 16.3 points per game and ranking second in the NBA in three-pointers made (319). He has knocked down 41.5% of 8.1 three-point attempts per contest over the past two seasons for the Bucks and Pistons.