Fyre Festival founder Billy McFarland has cancelled the planned Fyre Festival 2 event in Mexico and put the brand up for sale just a week after its indefinite postponement. In a statement on the festival’s official website, McFarland announced that he is stepping down as leader of the brand to sell it to an operator who can “realize its potential.” The move comes after McFarland served four years of a six-year sentence for his role in the 2017 Fyre Festival scandal.
McFarland claims to have rebuilt trust and momentum around Fyre, but admits that the brand has become too big for him to handle alone. He believes selling the brand will allow it to reach new heights in entertainment, media, fashion, CPG, and more. The news comes as Fyre Festival’s name remains synonymous with poor organization, with many fans criticizing lengthy delays at this month’s Coachella Festival.
Source: https://www.independent.co.uk/arts-entertainment/music/news/fyre-festival-2-canceled-brand-sale-billy-mcfarland-b2738323.html