Billy McFarland’s seven-figure deal to promote the Fyre Festival model collapsed and now he’s in search of a brand new purchaser.

Billy McFarland’s try to dump the Fyre Festival crashed and burned this week after a multimillion-dollar settlement all of a 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 title and mental property to filmmaker Shawn Rech, who aimed to relaunch the model as a part of a music-centric streaming platform.

But on day 5 of what McFarland described as a day by day “walk and talk” grind to salvage an settlement the deal fell aside.

“We had a seven-figure deal for the complete Fyre brand and IP package that fell through this morning,” McFarland mentioned in a video posted to social media.

McFarland had remained quiet in latest days, hoping to offer the buying firm time to announce the acquisition and permit his group to unveil what they’d been engaged on.

“I was staying quiet for a few days to help maximize the acquiring company’s announcement and also to help maximize the announcement of what the Fyre team has been building,” he mentioned.

The model was formally listed on the market in April 2025, following a string of issues surrounding the deliberate Fyre Festival 2.

The Fyre Festival 2 was initially scheduled for May 2025 in Mexico, but it was delayed due to permit issues and logistical setbacks, including a denial from officials that the event was even taking place.

That postponement triggered the choice to promote the complete Fyre model.

If a brand new purchaser emerges, McFarland has mentioned he’s keen to step except for any formal position, although he’s open to consulting if requested.

The Fyre Festival title 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 buyers 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.

Despite the model’s poisonous legacy, McFarland has continued pushing for a comeback, even teasing new ventures and partnerships. But with this newest deal falling by, the way forward for Fyre stays unsure.

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