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. He was ordered to pay the entirety in restitution.
So the public was shocked – and skeptical – 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 admitted 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.
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’
The public was shocked when McFarland revealed Fyre Festival 2.0 was coming to Playa Del Carmen (pictured) in 2025 – only for him to later postpone the event with no new date
‘When my team and I launched FYRE Festival 2, it was about two things: finishing what I started and making things right,’ he said.
The original Fyre Fest in 2017 resulted in a shambles after ticket holders – who paid thousands of dollars – became stranded in the Bahamas with no performing artists, no electricity or running water, a dire food situation, and limited shelter.
Tickets for the new event went on sale in February, starting at $1,400 and going all the way up to $25,000, with premium packages available for as much as $1.1 million.
‘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.
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
The initial event was promoted by rapper Ja Rule
Ticketholders were promised villas and a once in a lifetime experience, but were instead met with a dingy ‘tent city’
‘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.’
His decision to sell has sparked mass ridicule online, with critics saying they were ‘not surprised by the announcement.
‘I’m assuming it was all a ruse to sell the name,’ one said.
Another added: ‘Fyrefest is now synonymous with over promising, over charging, and under delivering. How is that “brand” worth anything.’
‘This guy will be president one day,’ a third joked.
