The UK’s National Crime Agency has frozen 10 million pounds, or about $13.5 million, as part of an investigation into online sports platform Sorare, according to a report Monday by The Sun. The freeze followed a January 2025 order from Westminster Magistrates’ Court.
The report said Sorare is being investigated over allegations of unlicensed gambling. The company, known for blockchain-based digital trading cards, signed a four-year, $162 million partnership with the Premier League in 2023. That agreement ended at the close of last season.
A spokesperson quoted in the report said the court order was designed to prevent the dissipation of funds while the NCA examines possible links between the money and alleged third-party criminality.
The development comes as UK regulators keep a close watch on sports sponsorships involving crypto firms. In June, the Financial Conduct Authority said it had written to Premier League clubs about questionable sponsorship arrangements with companies not authorized to operate in the country, including crypto-related businesses. Some clubs still have crypto sponsors for the coming season, including Circle with Chelsea and OKX with Manchester City.
The UK’s National Crime Agency has frozen 10 million pounds, or about $13.5 million, as part of an investigation into online sports company Sorare.
According to a Monday report by UK outlet The Sun, the agency is investigating Sorare over allegations of unlicensed gambling. Sorare operates blockchain-based digital trading cards and signed a four-year, $162 million partnership deal with the Premier League in 2023. That agreement was terminated at the end of last season.
Funds frozen under January 2025 court order
The Sun reported that the cash was frozen following a January 2025 order from Westminster Magistrates’ Court.
A spokesperson quoted in the report said the order was meant "to prevent dissipation of the funds while the NCA investigates any potential links between those funds and alleged third-party criminality."
Regulators have also warned clubs about sponsorship deals
In June, the UK Financial Conduct Authority said it had sent letters to Premier League clubs warning about "questionable sponsorship deals" with companies not authorized to operate in the country, including firms tied to crypto.
Some Premier League clubs still have crypto-related sponsors for the upcoming season, including stablecoin issuer Circle for Chelsea and crypto exchange OKX for Manchester City.
The report also said sponsorship deals between crypto companies and sports teams worldwide have declined since 2022 after the market downturn and growing concern about public links to the sector.
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