The U.K.'s National Crime Agency froze more than £10 million ($13.5 million) in a Premier League bank account while investigating potential links between the funds and alleged third-party criminality, according to court filings reported Tuesday. The frozen capital represents the first payment made by blockchain-based fantasy sports platform Sorare under its terminated $140 million partnership with England's top soccer league.
Market Context
The freeze order, obtained from Westminster Magistrates' Court in January 2025 under the Proceeds of Crime Act, arrives as U.K. regulators have been escalating scrutiny of crypto sponsorship deals within professional football. The Financial Conduct Authority previously warned Premier League clubs that partnerships with unauthorized cryptocurrency firms could breach financial services laws. The investigation marks one of the most significant regulatory actions targeting sports-adjacent crypto arrangements in recent years.
Analysis
The NCA's action centers on tracing whether funds flowing from Sorare to the Premier League carried contamination from alleged criminal activity, even though neither organization is suspected of direct wrongdoing. "The purpose of the order is to prevent dissipation of the funds while the NCA investigates any potential links between those funds and alleged third-party criminality," an agency spokesperson said in a statement via email. The investigation operates separately from an ongoing Gambling Commission prosecution that charged Sorare in September 2024 with providing unlicensed gambling facilities—the first such action brought against a blockchain platform under the Gambling Act 2005. Sorare denies any wrongdoing in both matters.
The underlying partnership, signed in 2023 as a four-year deal worth up to $140 million, was terminated at the end of last season amid mounting regulatory pressure on crypto-related sponsorships across European football. Sorare operates a fantasy sports digital card game where users build virtual teams using blockchain-verified player cards, initially launching as a crypto-only marketplace accepting ETH and SOL before expanding to allow cash transactions in August 2023. The platform has featured high-profile ambassadors including Lionel Messi, Kylian Mbappé and Zinedine Zidane.
Key Numbers
- £10 million ($13.5 million) frozen by the NCA in Premier League account
- $140 million total value of terminated Sorare partnership agreement
- Four-year duration of original deal signed in 2023
- September 14, 2026 expiration date for current freezing order
What to Watch
The Premier League is seeking to vary the terms of the freezing order at a court hearing scheduled for Monday. Market watchers should monitor whether the NCA expands its investigation beyond the initial Sorare payment or identifies specific criminal allegations tied to third parties in the funds chain. The outcome of Sorare's Gambling Commission prosecution, expected to proceed through the courts later this year, could further shape the regulatory landscape for blockchain-based fantasy sports platforms operating in regulated gambling jurisdictions.
Neither the Premier League nor Sorare responded to CoinDesk's requests for further comment on the NCA probe or partnership termination details.