UK's National Crime Agency Freezes $13.6 Million Linked to Premier League's Sorare Deal

Key Points

• The UK’s National Crime Agency has frozen $13.6 million (£10,024,041.33) from a Premier League account under the Proceeds of Crime Act.
• This amount represents the initial payment of a four-year sponsorship agreement with Sorare, a crypto-based fantasy soccer card game.
• Sorare is also facing legal action from the Gambling Commission for allegedly operating without a gambling license, with a trial scheduled for next June.

The National Crime Agency (NCA) of the UK has placed a freeze on over $13.6 million (£10,024,041.33) in a bank account owned by the Premier League, the top football division in England and the most popular league globally. This action is part of an investigation into the crypto company that made the payment, as reported by The Sun.

The NCA secured a court order from Westminster magistrates' court in January 2025 under the Proceeds of Crime Act, targeting funds in a Barclays account held by The Football Association Premier League Limited. The measure aims to "prevent dissipation of the funds while the NCA investigates any potential links between the funds and alleged third-party criminality," stated a spokesperson for the agency.

This money was the first installment from Sorare as part of a four-year sponsorship deal announced in January 2023, according to The Sun. Although the actual value of the deal was not disclosed due to contractual stipulations, it was reported to be approximately $41 million (£30 million) annually, totaling around $163 million (£120 million) for the entire contract. Under this agreement, Sorare was granted rights to issue digital cards representing players from all 20 clubs, with payments to clubs based on the usage of their players' cards. The sponsorship is set to conclude after the 2025-26 season.

There is currently no indication of wrongdoing on the part of the Premier League, which has refrained from commenting to The Sun. The league is scheduled to appear in court on Monday to seek modifications to the freeze order, which is in effect until September 14. Recent financial statements reveal that the league holds reserves exceeding $2 billion (£1.5 billion), as noted by the publication.

Is it a Game or Gambling?

Sorare operates a fantasy soccer platform where users create teams from digital cards and earn points based on real player performances. Established in 2018, it originally functioned as a crypto-exclusive marketplace, allowing users to trade cards using Ethereum or Solana, but began accepting cash transactions in August 2023. The Premier League identified high-profile figures such as Lionel Messi, Zinedine Zidane, Kylian Mbappé, Rio Ferdinand, and Serena Williams as investors and ambassadors for Sorare, with the platform valued at $4.3 billion (£3.21 billion) during its SoftBank-led funding round in 2021.

Whether Sorare qualifies as a gambling product is currently under judicial review. In September 2024, the Gambling Commission charged Sorare for allegedly providing gambling facilities without an operating license, violating the Gambling Act 2005. This marked the regulator's inaugural action against a blockchain-based platform, which is rare. Sorare pleaded not guilty to all charges at Birmingham magistrates' court in October, with the trial rescheduled for June 2027, pushed back from June 2026.

In response to the freeze order, Sorare stated it could not provide comments and noted that its contract with the Premier League had lapsed. Regarding the prosecution, the company firmly denies being classified as a gambling product under UK law, contending that the Gambling Commission has misinterpreted their business model and incorrectly applied legal standards to Sorare, asserting that their game rewards skill rather than luck.

Regulatory scrutiny is increasing in the broader context. In June, the Financial Conduct Authority alerted Premier League clubs that partnerships with unauthorized crypto entities could violate financial services regulations and pose legal and reputational risks. Lucy Castledine, the FCA's director of consumer investments, remarked that "Millions of football fans trust their club's badge," and urged clubs not to allow unauthorized financial firms to exploit this loyalty by introducing potentially dubious products to their supporters.