BREAKING NEWS Fyre Festival 2 is cancelled as fraudster founder Billy McFarland puts failed brand up for sale
The infamous Fyre Festival brand is up for sale and the comeback event officially canceled days after organizers said it had been indefinitely postponed.
Disgraced businessman Billy McFarland and rapper Ja Rule hyped up the 2017 festival as a 'luxury' event packed with A-list stars, but it instead descended into a chaotic failure.
McFarland was sentenced to six years in prison in 2018 for defrauding investors out of $26 million along with over $100,000 in additional fraudulent ticket-selling schemes.
So the public was shocked when McFarland revealed Fyre Festival 2.0 was coming in 2025 - only for him to later postpone the event with no new date.
Now, he's revealed the brand 'is bigger than any one person and bigger than what I'm able to lead on my own' and is attempting to offload it to a new buyer.
'Over the past two years, we've poured everything into bringing FYRE back with honesty, transparency, relentless effort, and creativity. We've taken the long road to rebuilding trust. We rebuilt momentum. And we proved one thing without a doubt: FYRE is one of the most powerful attention engines in the world,' he said.
'It's a movement. And it deserves a team with the scale, experience, and infrastructure to realize its potential.'
McFarland said he has accepted that the best way 'to accomplish our goals is to sell the FYRE Festival brand, including its trademarks, IP, digital assets, media reach, and cultural capital - to an operator that can fully realize its vision.
'When my team and I launched FYRE Festival 2, it was about two things: finishing what I started and making things right.,' he said.
'Since 2017, FYRE has dominated headlines, documentaries, and conversations as one of the world's most talked-about music festivals. We knew that FYRE was big, but we didn't realize just how massive the wave would become. That wave has brought us here: to a point where we know it's time to call for assistance.'
McFarland argued there is a 'clear path for operators and entrepreneurs with strong domain expertise to build FYRE into a global force in entertainment, media, fashion, CPG, and more.
'Giving control of the brand to a new group is the most responsible way to follow through on what we set out to do: build a global entertainment brand, host a safe and legendary event, and continue to pay restitution to those who are owed from the first festival.'
He said: 'In addition, following the challenges we faced in Mexico, we were approached by several Caribbean destinations eager to host FYRE Festival 2. We dove into the process—meeting with national officials, conducting site visits—and we're confident we've found the ideal location for the festival.
'While I'm incredibly excited, I can't risk a repeat of what happened in Playa Del Carmen, where support quickly turned into public distancing once media attention intensified.
'For FYRE Festival 2 to succeed, it's clear that I need to step back and allow a new team to move forward independently, bringing the vision to life on this incredible island.
'A new chapter begins. After two years of rebuilding FYRE with honesty, creativity, and relentless effort, it's time to pass the torch. We're officially putting the FYRE brand up for sale.
'To the right buyer: the platform is yours. Execute the vision. Make history.'
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