Billy McFarland says he will sell the brand "to an operator that can fully realize its vision." The news comes days after the postponement of Fyre Festival 2, which was scheduled for late May.

Billy McFarland announced the sale of Fyre Festival’s assets after canceling its Mexico revival and issuing refunds to ticket holders.

McFarland released a statement on social media about the proposed sale of the Fyre brand (NSFW water bottle sales not included). "A new chapter begins," he wrote in