Billy McFarland, founder of the notorious Fyre Festival, announced he is putting the brand for sale after two unsuccessful attempts to launch physical festivals. In his statements, he emphasized the necessity for a new team to bring the vision of Fyre to life in a responsible and transparent manner. McFarland acknowledged his past failures, including his fraud conviction and previous event setbacks, and has already sold portions of the brandâs intellectual property. He seeks an operator capable of maximizing the brand's potential and continuing his commitments to those affected by the festival's failure.
Fyre Festival founder Billy McFarland says that after two unsuccessful attempts at staging a physical festival, he's putting the brand for sale with the hopes that a new group will 'execute the vision of FYRE in a transparent, grand, and expeditious manner.'
In his first public statement since the postponement of Fyre Fest 2 last week, McFarland said, 'it's clear that I need to step back and allow a new team to move forward independently, bringing the vision to life.'
'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...'
Already, McFarland has sold some of the brand's IP to documentarian Shawn Rech, who plans to leverage the Fyre name into a new music-focused subscription video-on-demand platform.
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