Reversal! Beasley is no longer a target in the gambling investigation; top shooter may re-enter the free agent market.

On August 22nd Beijing time, according to reporter Shams, Malik Beasley's lawyers, Hani and Schachter, informed ESPN that Malik Beasley is no longer under scrutiny in the federal gambling probe in New York’s Eastern District, potentially allowing the top NBA shooter to resume his free agent pursuits.

Hani and Schachter told ESPN that they have engaged in extensive discussions and meetings with the Eastern District of New York and learned that Beasley is not considered a subject of the investigation involving allegations related to the 2023-24 NBA season games and player prop bets.

“Months after the investigation began, Malik has neither been charged nor considered a target,” Hani told ESPN. “An allegation without charges, accusations, or convictions should never lead to such devastating consequences for Malik. This completely contradicts the presumption of innocence.”

A spokesperson for the U.S. Attorney’s Office in the Eastern District of New York declined to comment on the matter. ESPN reported on June 29 that Beasley was under federal investigation, which caused all his free agent negotiations and offers to be put on hold just before the official start of the free agency period. At that time, NBA spokesman Mike Bass said, “We are cooperating with the federal prosecutors’ investigation.”

Sources indicated that Beasley and the Detroit Pistons were close to finalizing a three-year, $42 million contract to bring the 28-year-old guard back, but the deal fell through after the team learned of the federal probe. Other interested teams also paused discussions with Beasley.

Insiders say several teams have maintained contact with Beasley’s representatives over the past few weeks, inquiring about his situation.

Last season marked Beasley’s first with the Pistons in his nine-year NBA career. He played all 82 games, averaging 16.3 points per game. Beasley made 319 three-pointers, setting the Pistons’ single-season record for most threes and ranking second in the NBA only behind Timberwolves All-Star Anthony Edwards. His total points and three-pointers made off the bench were both second highest, and his 248 catch-and-shoot threes were the most in a single season since player tracking began in 2013-14.

In the 2024 offseason, Beasley signed a one-year deal with the Pistons. According to ESPN’s Bobby Marks, because Detroit used their full mid-level exception on LeVert, the maximum value for Beasley’s re-signing was $7.2 million. Without Beasley, the Pistons added LeVert, Duncan Robinson, and Javonte Green to bolster their wing and guard depth.

Teams that have exceptions allowing them to offer Beasley more than $7.2 million include the Bulls, Pacers, Pelicans, Kings, and Wizards. The Nets also have over $20 million in salary cap space.

During the 2023-24 season under investigation, Beasley appeared in 79 games for the Bucks, averaging 11.3 points and starting a career-high 77 times.

A source from the sports betting industry told ESPN’s David Purdum that at least one major U.S. sports betting company noticed an unusual surge in bets on Beasley’s stats around January 2024. The source highlighted the January 31 Bucks vs. Trail Blazers game, where odds on Beasley grabbing fewer than 2.5 rebounds shifted dramatically due to heavy betting on the under, dropping from about +120 to approximately -250. Beasley ended up with 6 rebounds, causing those abnormal bets to lose.

Last year, Raptors forward Jontay Porter was suspended by the NBA after the league’s investigation found he shared confidential information with sports bettors and placed bets on games. Earlier this year, reports emerged that Heat guard Terry Rozier was under federal investigation related to suspicious betting patterns connected to a March 2023 Hornets game he played in. Rozier has not been charged or disciplined by the NBA; his lawyer Jim Trusty told Purdum that Rozier is not a target of the investigation.

The players’ union reiterated that aside from Porter, there is no evidence of further gambling issues within the league.

“NBA players compete with the highest level of integrity, and they are concerned that player prop bets have become an increasingly troubling source of harassment for players, both online and in real life,” a union spokesperson said. “If stricter regulations help reduce this abuse, we support a closer examination of such measures.”

In 2020, while with the Timberwolves, Beasley pleaded guilty to a felony charge related to a violent threat and was sentenced to 120 days in jail, which he served after the 2020-21 season. In 2021, due to the guilty plea, he was also suspended by the NBA for 12 games.