Source: Fortune
Summary
The U.K.’s National Crime Agency has frozen £10 million in a bank account linked to the Premier League as part of an investigation into crypto gaming platform Sorare. The agency is looking into possible links between Sorare’s payments under a licensing deal and alleged criminal activity by third parties. Sorare denied being involved in the inquiry, stating the account in question does not belong to the company. The Premier League declined to comment. The investigation follows warnings from the Financial Conduct Authority about risky sponsorship deals with unauthorized financial firms, including crypto companies.
Our Reading
The numbers tell one story.
The NCA froze £10 million linked to the Premier League.
Sorare denies any involvement in the probe.
The agency is looking into third-party criminal activity.
The Premier League’s deal with Sorare is under scrutiny.
Corporate denials and regulatory warnings are standard in crypto-linked scandals.
Author: Evan Null
England’s Top Soccer League and the Crypto Tangle
England’s Premier League is now embroiled in a crypto investigation after the U.K.’s National Crime Agency froze £10 million in a bank account linked to the league. The move came as part of an inquiry into Sorare, a crypto gaming platform that had a four-year partnership with the league worth $140 million. The NCA is investigating potential links between Sorare’s payments and alleged criminal activity by third parties, though it has not specified the nature of the crimes.
Sorare Denies Involvement
Sorare, which rose to prominence during the NFT boom, has denied being the subject of the investigation. A spokesperson said the frozen funds do not belong to the company and that Sorare is not a party to the proceedings. The CEO also called the initial reports “inaccurate.” Despite these denials, the investigation has raised questions about the league’s financial dealings with crypto firms.
Regulatory Warnings and Risky Deals
The investigation comes after the Financial Conduct Authority warned Premier League clubs not to put fans’ money at risk through sponsorship deals with unauthorized financial firms, including crypto companies. Lucy Castledine, the FCA’s director of consumer investments, emphasized that clubs should not let such firms exploit fan loyalty by offering potentially risky products. This warning highlights the growing scrutiny of crypto in sports.
Sorare’s Legal Challenges
Sorare is facing additional legal challenges beyond the NCA investigation. In September 2024, the U.K. Gambling Commission charged the company with offering gambling services without the required operating license. This is the first prosecution of a blockchain-based platform under the country’s 2005 Gambling Act. The trial is scheduled for next June, and Sorare has denied wrongdoing.
Partnership with Premier League
The partnership between Sorare and the Premier League was highly publicized. The four-year deal, worth $140 million, allowed Sorare to release digital cards featuring players from all 20 Premier League clubs. The first payment Sorare made under the deal is the one currently frozen by the NCA. The partnership officially ended at the close of the 2025–26 football season, but the legal fallout continues.
