The Premier League has found itself entangled in a high stakes legal battle after the UK National Crime Agency froze roughly 13.5 million dollars held in a bank account linked to the organization. The move comes as authorities investigate potential connections between payments made by the crypto fantasy platform Sorare and alleged criminal activities carried out by third parties. While the agency hasn’t specified exactly what crimes are being probed, officials stepped in to freeze the funds to ensure they aren’t moved while the investigation proceeds.
For its part, Sorare has pushed back strongly against the claims, insisting that it is not the target of any NCA investigation. A spokesperson for the company clarified that the frozen funds reside in an account that does not belong to them and stated that they are not a party to these specific proceedings. This denial was echoed by CEO Nicolas Julia on social media, where he characterized early reports of the company’s involvement as inaccurate. Meanwhile, representatives for the Premier League have remained silent on the matter, declining to offer a public comment.
The controversy surrounds a massive four year partnership signed in 2023, valued at 140 million dollars, which allowed Sorare to create digital trading cards featuring players from across all twenty Premier League clubs. Under the terms of the agreement, clubs were set to receive payouts based on how often their players’ cards were used on the blockchain platform. Ironically, it appears that it was this very first payment from Sorare that triggered the current freeze by law enforcement agencies.
This latest headache arrives amid growing scrutiny over how soccer clubs handle cryptocurrency sponsorships. Only a few months ago, Britain’s Financial Conduct Authority issued a stern warning to teams about partnering with unauthorized financial firms that could expose loyal fans to risky or fraudulent products. Adding further pressure to Sorare is a pending trial scheduled for next June, where they face charges from the UK Gambling Commission for allegedly offering gambling services without a proper license.