UK crime agency froze $13.5M amid probe into Premier League crypto sponsor

The UK National Crime Agency (NCA) has frozen £10 million, or approximately $13.5 million, in cash as part of an investigation into the online sports company Sorare. This decision was prompted by a January 2025 order from the Westminster Magistrates’ Court, which aimed to prevent the dissipation of funds while the agency investigates potential links to criminal activity.

Sorare, known for its blockchain-based digital trading cards, signed a lucrative four-year, $162-million partnership deal with the Premier League in 2023, which was subsequently terminated at the end of the previous season. The NCA's move comes amid growing concerns over unlicensed gambling and the involvement of crypto companies in sports sponsorship deals.

The Financial Conduct Authority (FCA) had previously warned Premier League clubs about questionable sponsorship agreements with unlicensed crypto entities, including those with stablecoin issuer Circle and the OKX exchange, which are associated with Manchester City and Chelsea, respectively. Despite the ongoing investigation, the number of sponsorship deals between crypto companies and sports teams has reportedly declined since 2022 due to the market downturn and heightened public scrutiny of the industry.

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