The organizer of the failed Fyre Fest and its long-awaited sequel — which was supposed to take place next month — has put the brand up for sale.
Founder Billy McFarland announced Wednesday that the brand had grown "bigger than any one person and bigger than what I'm able to lead on my own," and that it needs a team with "scale, experience and infrastructure" to reach its full potential. He said on social media that "it's time to pass the torch."
"We have decided 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," he wrote.
Interested buyers can provide their personal information and make an open-ended offer through an online form. A disclaimer says people who submit offers will get an email with a request for follow-up information, and their "bid will be considered forfeit" if they don't respond within 24 hours.
McFarland said his team will pick the new owner 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," he added.
The assets for sale include not only Fyre's name, intellectual property and trademarks, but an unspecified "Caribbean Festival Location" that McFarland says is ready to host Fyre Festival 2.
McFarland's announcement confirms that the much-anticipated, repeatedly postponed sequel will not take place on May 30 in Mexico as planned.
Doubts about where — and whether — the festival would happen arose in recent weeks, after local governments of two different islands, one after another, publicly denied that they would be hosting it.
Media outlets including ABC and NBC reported last Wednesday that organizers notified ticket-holders that the event was postponed, only to say a few hours later that the show would go on and it would announce a new host destination soon.
McFarland said he has engaged with leaders from several Caribbean destinations that have already approached him about hosting the festival. But it seems that work will continue without him.
"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," McFarland wrote.
How did we get here?
Wednesday's abrupt announcement is the latest turn in a saga that began in earnest in April 2017, when the original Fyre Festival imploded.
The event was advertised — by a cast of big-name influencers and celebrities — as a glamorous music festival on a secluded Bahamian island with luxury accommodations. But when attendees arrived on Great Exuma for the inaugural weekend, they were met with a scene of total chaos.
Their luxury lodging turned out to be unfinished FEMA tents, and gourmet food was actually boxed cheese sandwiches.
Many of the scheduled artists — a lineup including Blink-182, Migos, and Major Lazer — had already canceled their performances. Attendees found themselves stranded on a remote — and, by design, "cashless" — island, without inadequate security, medical care, food, lodging, bathrooms or transportation.
Organizers quickly offered refunds and an apology, with McFarland telling Rolling Stone that "we were a little naïve in thinking for the first time we could do this ourselves." But that didn't stem the fallout, which included multiple lawsuits, dueling documentaries and criminal charges.
Hundreds of ticket-holders filed a class action lawsuit against event organizers, which they settled for $2 million in 2021. McFarland was sentenced to six years in prison after pleading guilty to two counts of wire fraud related to the festival.
He was released two years early in 2022 but still owes $26 million in restitution. McFarland quickly turned his attention to rebooting the festival. He said on Wednesday that Fyre Festival 2 was "about two things: finishing what I started and making things right."
What's happening with the festival?
The path to Fyre Festival 2 has been bumpy for years.
McFarland first unveiled his plans in 2023, for a festival slated to take place in December 2024. He then announced in September 2024 that the festival would take place over three days in April 2025 on an unnamed "private island off the coast of Mexico."
McFarland told the TODAY Show that he wouldn't be handling logistics this time around, saying he had "an incredible production company who's handling everything from soup to nuts."
While details on talent and location were scarce, McFarland said the festival would have more than just music ("for example, karate combat"). He talked of excursions like scuba diving and "super expensive" cheese sandwiches, paying homage to the 2017 edition.
Tickets went on sale in February 2025, even before a lineup was announced.
Ticket prices started at $1,400, according to Variety, but high rollers could pay $5,000 for VIP access, $25,000 for artist access and $1.1 million for the "Prometheus God of Fyre" package (which included a four-stateroom yacht and private chauffeur service).
The website said at the time that the festival would be held on Isla Mujeres, a tropical island off Cancún, Mexico. But within days, the local government was disputing that.
"We have no knowledge of this event, nor contact with any person or company about it," Edgar Gasca, from the tourism directorate of Isla Mujeres, told the Guardian when asked about it in late February. "For us, this is an event that does not exist."
Organizers changed course, announcing on Instagram — and then at a press conference — in late March that the festival would be held in the coastal resort town of Playa Del Carmen. But they were foiled once again in early April when Playa del Carmen City Hall posted on social media: "There will be no event called 'Fyre 2' in Playa del Carmen."
The post said there were no records or plans to indicate such an event was being held within the municipality. McFarland quickly fired back on social media, saying Fyre had been working directly with the local government since early March and sharing various screenshots of what he called "permits, payments and communications."
Two weeks later, attendees got messages about postponement and refunds. Festival spokesperson Nick Lawson said in a statement reported by the Washington Post that the event would not start in Playa del Carmen on May 30 after all, but insisted that "FYRE Festival 2 is still on."
"We are vetting new locations and will announce our host destination soon," the statement said. "Our priorities remain unchanged: delivering an unforgettable, safe, and transparent experience."
McFarland said Wednesday that "following the challenges we faced in Mexico," his team dove into the process of finding a new venue, conducting site visits and meeting with officials. He said they are confident they have "found the ideal location for the festival" — under new leadership.
"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," McFarland said. "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."
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