Malik Beasley was approaching the biggest payday of his NBA career with the Detroit Pistons. Instead, a federal gambling investigation derailed a $42 million contract, leaving the former Sixth Man of the Year finalist fighting for his basketball future.
Now, Beasley is negotiating a potential guilty plea over allegations that he manipulated his performances to help gamblers profit from NBA games.
According to ESPN, court records filed Friday indicate that Beasley intends to change his initial not-guilty plea.
However, attorney Steve Haney said Saturday that no agreement has been finalized. Negotiations remain ongoing, with a decision expected early next week.
The development brings renewed attention to allegations involving millions in gambling debts, secret communications and a former teammate.
Malik Beasley’s Gambling Debts at Center of Federal Case
Despite earning nearly $60 million over nine NBA seasons, Beasley allegedly accumulated multimillion-dollar gambling losses.
According to the 22-page federal indictment, those debts helped draw him into an alleged scheme involving former Minnesota Timberwolves teammate Ed Davis.
Prosecutors claim Davis loaned Beasley money to address his gambling obligations.
In return, Beasley allegedly provided information about how he intended to perform in certain Milwaukee Bucks games during the 2023-24 season.
A December 2023 text exchange captured the nature of their alleged discussions.
“Only way you can beat Vegas is sports betting,” Davis allegedly told Beasley.
Later, Davis asked whether Beasley used Snapchat.
“Better to talk on there,” Davis wrote, according to the indictment.
He then added, “We can make some good money.”
Prosecutors allege that Davis relayed information to other bettors, while Beasley received benefits through reductions or repayment of his debts.
Prosecutors Detail $77,000 Profit From Alleged NBA Betting Scheme
One particularly striking example involved Milwaukee’s Feb. 27, 2024, game against the Charlotte Hornets.
According to prosecutors, Beasley indicated he would score fewer points but collect more rebounds than the applicable betting lines.
The indictment alleges that approximately $25,000 in wagers generated more than $77,000 in profit.
Beasley finished with six points and four rebounds, falling below a projected 12.5-point line while exceeding a 3.5-rebound line.
Another alleged incident occurred March 10 against the Los Angeles Clippers.
Prosecutors claim Beasley communicated that he intended to exceed his rebounding line.
He finished with four rebounds, surpassing the 3.5-rebound threshold and helping certain wagers win.
Federal authorities identified four games in the alleged scheme.
Beasley initially pleaded not guilty to charges involving sports bribery, wire fraud conspiracies and money laundering conspiracy.
Davis has also pleaded not guilty.
The allegations remain unproven in court.
Gambling Investigation Cost Beasley $42 Million Pistons Deal
The allegations are particularly striking given Beasley’s remarkable season in Detroit.
He averaged 16.3 points during the 2024-25 campaign while shooting 41.6% from the 3-point range.
His franchise-record 319 3-pointers helped the Pistons end a six-year playoff drought.
Detroit was preparing a three-year, $42 million contract to retain him.
However, negotiations collapsed after news of the federal investigation emerged in June 2025.
Beasley never signed the deal.
A player who appeared to have secured his long-term future alongside Cade Cunningham instead found himself without an NBA contract.
What’s Next for Malik Beasley?
Friday’s court filing suggests the federal case may be approaching a turning point.
Still, Beasley has not formally pleaded guilty, and his attorney emphasized that negotiations remain unresolved.
Several co-defendants have already pleaded guilty or indicated plans to change their pleas.
For Detroit, the case remains a remarkable reversal.
Beasley helped restore playoff basketball to the city and seemed poised to collect the richest contract of his career.
Instead, the former Pistons sharpshooter faces an uncertain future as federal prosecutors pursue allegations that could permanently reshape his basketball legacy.
Former Pistons Star Faces Major Gambling Case Twist After Losing $42 Million Deal