Billy McFarland’s seven-figure deal to promote the Fyre Pageant model collapsed and now he’s in search of a brand new purchaser.
Billy McFarland’s try to dump the Fyre Pageant crashed and burned this week after a multimillion-dollar settlement all of the sudden unraveled, leaving the controversial entrepreneur scrambling as soon as once more.
The failed deal, reportedly value seven figures, would have transferred full possession of the Fyre identify and mental property to filmmaker Shawn Rech, who aimed to relaunch the model as a part of a music-centric streaming platform.
However on day 5 of what McFarland described as a day by day “stroll and speak” grind to salvage an settlement the deal fell aside.
“We had a seven-figure deal for the entire Fyre model and IP package deal that fell by this morning,” McFarland mentioned in a video posted to social media.
McFarland had remained quiet in latest days, hoping to provide the buying firm time to announce the acquisition and permit his crew to unveil what that they had been engaged on.
“I used to be staying quiet for a couple of days to assist maximize the buying firm’s announcement and in addition to assist maximize the announcement of what the Fyre crew has been constructing,” he mentioned.
The model was formally listed on the market in April 2025, following a string of problems surrounding the deliberate Fyre Pageant 2.
The Fyre Pageant 2 was initially scheduled for Might 2025 in Mexico, however it was delayed as a result of allow points and logistical setbacks, together with a denial from officers that the occasion was even happening.
That postponement triggered the choice to promote the complete Fyre model.
If a brand new purchaser emerges, McFarland has mentioned he’s prepared to step apart from any formal position, although he’s open to consulting if requested.
The Fyre Pageant identify grew to become notorious after the unique 2017 occasion collapsed into chaos, leaving attendees stranded within the Bahamas with out meals, shelter or performances.
McFarland was later convicted of defrauding traders and ticket consumers out of greater than $26 million.
He was sentenced to 6 years in federal jail in October 2018 however was launched in March 2022, having served lower than 4 years.
Regardless of the model’s poisonous legacy, McFarland has continued pushing for a comeback, even teasing new ventures and partnerships. However with this newest deal falling by, the way forward for Fyre stays unsure.
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