As soon as pitched as an elite escape of music and luxurious, Fyre Competition’s infamous collapse in 2017 turned a case examine in viral hype gone improper. Now, the ill-fated occasion that launched two documentaries in its wake is formally up on the market.
Fyre Competition founder Billy McFarland, who served 4 years in jail for wire fraud associated to the 2018 debacle on the Bahamian island of Nice Exuma, has introduced he intends to step away from the model whereas inviting potential consumers to put bids on its full mental property bundle.
The announcement follows McFarland’s makes an attempt to mount a comeback within the Caribbean. Initially scheduled to happen in Could 2025, Fyre Competition 2 was postponed indefinitely after contentious disputes with Mexican authorities officers in two separate municipalities, Isla Mujeres and Playa del Carmen.
Whereas he claims to have since secured a brand new Caribbean-based vacation spot keen to host Fyre Competition 2, McFarland says he is unwilling to danger one other collapse. “For FYRE Competition 2 to succeed, it’s clear that I must step again and permit a brand new group to maneuver ahead independently, bringing the imaginative and prescient to life on this unbelievable island,” he mentioned.
McFarland has now issued a brand new name to motion: purchase the model and take the reins.
“We have now determined one of the best ways to perform our objectives is to promote the FYRE Competition model, together with its logos, IP, digital property, media attain, and cultural capital—to an operator that may absolutely understand its imaginative and prescient,” McFarland mentioned in a statement. “There’s a clear path for operators and entrepreneurs with robust area experience to construct FYRE into a world power in leisure, media, trend, CPG, and extra.”
Since relaunching the model in 2023 after his launch from jail, McFarland states Fyre has already been leveraged for developments in theater, streaming platforms and tv.
Whereas the title nonetheless carries a seedy repute, it has continued to dominate headlines, main McFarland to name it “probably the most highly effective consideration engines on the earth.” For potential consumers, that focus might be a useful asset, supplied they have the initiative to rewrite the model’s tumultuous legacy.
For the time being, the model’s official web site is internet hosting an consumption type the place events can place affords to buy the Fyre Competition model. The sale bundle consists of the pageant’s logos, advertising supplies, domains, media property, artist assist lists and even the rights to its in depth documentary protection.
In the meantime, a separate however associated Fyre-branded undertaking is already underway beneath the management of media entrepreneur Shawn Rech. Rech, who just lately acquired choose Fyre IP, is launching a music streaming platform beneath the title, aiming to recast the model right into a fan-driven discovery device for rising artists.
Nonetheless, the primary occasion stays up for grabs. And as McFarland steps away, Fyre’s future forward will likely be within the palms of the following bidder.
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