‘I Can’t Risk a Repeat’: Billy McFarland Cancels Second Fyre Fest, Puts Brand Up for Sale

After months of setbacks, convicted fraudster Billy McFarland has officially decided to cancel the second (and somewhat first) edition of Fyre Festival.

Originally, the festival was set to take over Quintana Roo, Mexico this May, however, last week, McFarland revealed the festival would be postponed as organizers search for a new location. On Wednesday, McFarland announced that he’s officially calling-it-quits after the brand faced several “challenges.”

McFarland noted in a statement on the festival website that he was planning Fyre Fest 2 with hopes of “finishing what I started and making things right.” However, he came to the conclusion 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.”

“I’ve stood by my team, our partners, and our fans since Day 1 of FYRE Festival 2,” McFarland said. “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.”

Those interested in purchasing the brand can visit the Fyre Fest website to find assets that will be included in the purchase, including email and text contact lists, as well as screenshot attachments showing Fyre Festival’s social media reach and website traffic.

“To the supporters, believers, and builders who’ve stuck with my team and me: thank you,” McFarland continued. “We will pick the new group based on their ability to execute the vision of FYRE in a transparent, grand, and expeditious manner. The next chapter of FYRE will be bigger, better, and built to last without me at the helm.”

This follows news earlier this week that TrueBlue streaming service co-founder Shawn Rech reportedly acquired some of the festival’s IP, including a pair of trademarks that allows him to launch a music streaming service utilizing the name.

While McFarland had remained adamant about resurrecting Fyre Fest this year, the festival endured several woes. First, McFarland announced the event would take place on Isla Mujeres, though the tourism directorate Edgar Gasca told The Guardian “we have no knowledge of this event, nor contact with any person or company about it,” and “for us, this is an event that does not exist.” Gasca told the publication that “if you go on their website and take the coordinates they provide, then put them in Google Maps, it takes you to the ocean — between Cancun and Isla Mujeres.”

| READ: Isla Mujeres — Destination for Fyre Fest 2 — Claims No Knowledge of Festival |

Then, the festival was moved to the Martina Beach Club in Playa del Carmen, but details quickly emerged regarding the audience capacity. McFarland originally touted the event as a four-day festival with 3,000 attendees and 40 musical guests, however, a permit posted to his Instagram account — meant to combat allegations that the festival is fake — showed that the local government only approved 12 total hours of show time from 12 a.m. to 4 a.m. with a max capacity of 250 people.

To add more fuel to the “fyre” — the local government of Playa del Carmen denied all information regarding the festival. Officials noted in a statement on social media that “in light of rumors about an event called ‘Fyre 2,’ we inform you that no event with that name will be held in Playa del Carmen” and “after a responsible review, there is no registration or planning in the municipality.”

| READ: Fyre Fest Responds to Postponement, Accuses Mexican Government of ‘Theft’ |

McFarland had attempted to create a show that was starkly different from the original, failed Fyre Festival.  the 2017 event was promoted on social media as a luxury event from some of the top influencers across the globe. It was billed as the “festival of the year” on the Bahamian Island of Great Exuma in the Caribbean, boasting villas, top-tier chef cuisine, and performances from acts like blink-182 and Disclosure.

Ticketholders showed up to the biggest scam of their lives; at the island, they were met with wet tents, no performers, and a boxed cheese sandwich for dinner. The disastrous, failed event sparked eight lawsuits and became an infamous cultural sensation.