Billy McFarland announced the sale of the Fyre brand, effectively canceling Fyre Festival 2, which was set for late May in Playa del Carmen. Initially, organizers claimed the festival was postponed, but McFarland stated that new leadership is needed for the brand to realize its potential. The original event, co-organized by Ja Rule, ended miserably for attendees in 2017, and McFarland's legal troubles, including a guilty plea for wire fraud, compound the brand's challenges moving forward.
This brand is bigger than any one person and bigger than what I'm able to lead on my own. It's a movement.
The event was slated for late May in Playa del Carmen, Mexico, until a dispute with the location occurred.
The organizers had initially claimed the festival was postponed and would be rescheduled, but later implied it was all contingent on the brand's sale.
In 2018, McFarland pleaded guilty to two counts of wire fraud, fraudulently taking more than $26 million from investors.
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