$13.5M Sponsorship Payment Caught in UK Crime Probe
More than $13.5 million sitting in a Premier League bank account has been frozen by the UK’s National Crime Agency as investigators examine whether the funds could be linked to alleged third-party criminality.
The funds are understood to be part of the first payment made by blockchain fantasy sports company Sorare under its four-year sponsorship agreement with the Premier League, worth around $140 million, according to The Sun. The partnership was signed in 2023 and was terminated at the end of last season.
The freezing order was obtained from Westminster Magistrates’ Court in January 2025 under the Proceeds of Crime Act.
The NCA has not identified the alleged criminal activity at the center of its investigation. A spokesperson said the purpose of the order was to prevent the funds from being dissipated while authorities investigate “any potential links between those funds and alleged third-party criminality.”
The distinction is significant: there is no reported suspicion of wrongdoing by the Premier League itself. The Premier League is now seeking to vary the terms of the freezing order, which is due to remain in place until Sept. 14. A court hearing is scheduled for Monday.
Neither the Premier League nor Sorare responded to CoinDesk’s request for comment.
Sorare Already Faces a Separate Gambling Fight
The NCA investigation is separate from a long-running prosecution brought by the UK Gambling Commission against Sorare.
In September 2024, the regulator charged Sorare with providing facilities for gambling without an operating license under the Gambling Act 2005. The prosecution was the first action brought against a blockchain-based platform under the UK gambling law, according to CoinDesk.
Sorare denies wrongdoing.
The case centers on Sorare’s blockchain-based fantasy sports platform, where users build teams using digital player cards and compete based on the real-world performance of footballers. The company originally operated its marketplace using cryptocurrencies including Ether and Solana before introducing cash transactions in August 2023.
That regulatory fight raises a broader question for Web3: where does blockchain-based fantasy gaming end and regulated gambling begin?
But the distinction between the two cases is critical. The Gambling Commission prosecution does not establish that the NCA froze the Premier League funds because of alleged unlicensed gambling. The NCA has not publicly disclosed the criminal activity it is investigating in connection with the frozen money.
Crypto Football Sponsorships Face a New Regulatory Test
The investigation comes as UK authorities take a harder look at the growing relationship between crypto companies and Premier League football.
In June, the Financial Conduct Authority warned Premier League clubs that partnerships with unauthorized crypto firms could potentially breach UK financial services laws.
Yet crypto remains deeply embedded in the league’s commercial ecosystem. Circle, the issuer of the USDC stablecoin, is sponsoring Chelsea, while crypto exchange OKX has partnered with Manchester City.
Sorare’s case illustrates the increasingly complicated regulatory territory surrounding those deals. A company can become one of football’s biggest commercial partners while simultaneously facing scrutiny over the legality of its products and, separately, an investigation involving funds connected to its sponsorship payments.
For now, the most consequential question surrounding the frozen $13.5 million is also the one authorities have yet to answer publicly: what alleged criminality, if any, is connected to the money?
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