UK crime agency froze $13.5M amid probe into Premier League crypto sponsor
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
The UK’s National Crime Agency (NCA) has frozen approximately $13.5 million as part of an investigation into Sorare, an online sports company involved in digital blockchain trading cards. The probe concerns allegations of unlicensed gambling linked to Sorare, which had a four-year sponsorship deal with the Premier League that ended after the last season. The freezing of funds was ordered by the Westminster magistrates’ court in January 2025 to prevent dissipation during the investigation.
Why it matters
The NCA’s action highlights regulatory and legal scrutiny over crypto-related companies engaged in sports sponsorships, especially those suspected of operating without proper licenses. The UK’s Financial Conduct Authority (FCA) has also warned Premier League clubs about sponsorship deals with unauthorized companies, signaling increasing oversight. The report does not explicitly state further market or industry impacts.
Key context
Sorare had signed a $162-million, four-year deal with the Premier League in 2023, terminated at the end of last season. The FCA previously issued warnings about “questionable sponsorship deals” involving crypto companies, reflecting concerns about regulatory compliance. The broader crypto sponsorship landscape has contracted since 2022 due to market downturns and reputational issues. Some Premier League clubs continue to have crypto sponsors unrelated to Sorare.
Key numbers and entities
The National Crime Agency (NCA), Sorare, the Premier League, the UK Financial Conduct Authority (FCA), and Westminster magistrates’ court are involved. The funds frozen amount to roughly £10 million ($13.5 million). Sorare’s Premier League sponsorship deal was valued at $162 million over four years.
What remains unclear
The source does not detail specific evidence linking Sorare to unlicensed gambling or third-party criminality. It is also unclear how the investigation will proceed or what potential legal consequences Sorare might face. The exact nature of the alleged violations and any responses from Sorare are not provided.