A crypto fantasy platform has left the Premier League tangled in a $13.5 million U.K. criminal probe
Authorities are investigating a payment deposited into one of the league’s bank accounts.
The Premier League has become entangled in a $13.5 million U.K. criminal probe according to reports. The National Crime Agency has frozen £10 million held in a bank account linked to crypto gaming platform Sorare. Sorare is not accused of any wrongdoing, but authorities are investigating possible links between the platform's payments under a licensing deal with the Premier League and alleged criminal activity by third parties.
Sorare CEO Nicolas Julia and the company denied being involved in the inquiry, stating the freezing order concerns funds not belonging to Sorare. The Premier League declined to comment. The investigation followed the FCA warning soccer clubs against risky sponsorship deals with unauthorized financial firms, including crypto companies.
Sorare rose to prominence during the NFT boom, with a $680 million funding round in 2021 and partnerships with Premier League clubs and high-profile athletes. The company faces a separate U.K. Gambling Commission case for offering gambling services without the required license.
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